ICE Attractive On Pullback

The Intercontinental Exchange (ICE) has now pulled back to a more attractive level. ICE now trades at 19X forward earnings. I continue to like the exchange sector. As more volume moves electronic, volumes and margins increase for ICE. Futures clearing is a great business to be in. With the CME's $11B bid for the NYMEX (NMX), ICE is likely the next exchange to be bought.

Note: I am long ICE & NMX