Intercontinental Exchange, Inc. Quarterly Report for Q2 Ended Jun 30, 2013

Summary

This Form 10-Q for Intercontinental Exchange Group, Inc. (ICE Group) covers the period ending June 30, 2013, and the three months ended on that date. It is important for investors to note that ICE Group was newly formed on March 6, 2013, solely to facilitate ICE's proposed acquisition of NYSE Euronext. As such, the company had not commenced operations, had no significant assets or liabilities, and had no revenue or expenses during this period. The financial statements reflect only the initial capitalization by ICE, totaling $10, and the organizational activities related to the acquisition. The primary focus for investors during this reporting period is the impending acquisition of NYSE Euronext. The transaction, valued at approximately $9.5 billion, was expected to close in the second half of 2013, subject to regulatory approvals and customary closing conditions. This 10-Q serves primarily as a placeholder and a formal record of the shell entity's formation and its preparation for the transformative acquisition, rather than reporting on active business operations.

Key Highlights

• 1ICE Group was incorporated on March 6, 2013, for the sole purpose of acquiring NYSE Euronext.
• 2The company reported no revenues, expenses, or net income for the period ending June 30, 2013, as it had not commenced operations.
• 3Total assets and total equity were $10 as of June 30, 2013, reflecting initial capitalization.
• 4The financial statements are unaudited and prepared in accordance with U.S. GAAP for interim reporting.
• 5The proposed acquisition of NYSE Euronext by ICE was valued at approximately $9.5 billion as of August 1, 2013.
• 6The acquisition was anticipated to close in the second half of 2013, pending regulatory approvals.
• 7ICE Group had no significant liquidity or capital resource requirements as it was not yet funded and awaiting the acquisition.

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