NEW YORK - The New York Stock Exchange (NYSE), operated by Intercontinental Exchange, Inc. (NYSE: NYSE:ICE), has established the NYSE Tech Council, a collective of senior technology executives from companies listed on the exchange. The council aims to cultivate thought leadership and share actionable best practices in technology, with an initial focus on cybersecurity and artificial intelligence (AI) applications.
Comprising Chief Technology Officers, Chief Information Officers, and other C-level tech leaders, the NYSE Tech Council will operate akin to other NYSE thought leadership groups, serving the interests of its 2,400 listed issuers. The formation of the council underscores the importance of technological innovation and security in today's digital business landscape.
Lynn Martin, President of the New York Stock Exchange, emphasized the council's role in supporting NYSE-listed companies as they navigate technology-driven goals. She noted that the NYSE community, by leveraging the council's insights, could further their ambitions to raise capital and enact global change.
Chuck Adkins, Chief Information Officer of NYSE, expressed confidence in the council's unique position to harness technology's vast opportunities for the NYSE community. The council's objective is to facilitate discussions among market leaders to optimize the use of AI, cybersecurity, and other critical technological advancements.
The announcement follows a series of technological upgrades by the NYSE, including the completion of a multi-year enhancement of its trading technology in October 2023. The NYSE Pillar technology platform, highlighted for its performance and reliability, now underpins all NYSE exchanges and essential U.S. equity market-data infrastructure.
The information regarding the NYSE Tech Council is based on a press release statement.
InvestingPro Insights
Intercontinental Exchange, Inc. (NYSE: ICE), the parent company of the New York Stock Exchange, has been a consistent performer in terms of financial metrics. As of the last twelve months leading up to Q1 2024, the company has shown a robust revenue growth of 15.0%, reflecting its successful integration of technology in market operations. This growth is further exemplified by a significant quarterly revenue increase of 20.78% in Q1 2024, showcasing the company's adaptability and innovation in a competitive landscape.
Investors looking at ICE's stock can take note of its current P/E ratio of 29.88, which indicates that the stock is trading at a discount relative to its near-term earnings growth potential. This is supported by the company's PEG ratio of 0.45 during the same period, suggesting that the stock might be undervalued based on its earnings growth rate.
One of the notable InvestingPro Tips for ICE is its commendable track record of raising its dividend for 12 consecutive years, demonstrating a commitment to returning value to shareholders. Additionally, ICE has maintained its dividend payments for the same duration, with a recent dividend yield of 1.34%, which could appeal to income-focused investors.
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