ICE
Intercontinental Exchange Inc.
stock NYSE

Well as of their Press Release on 6/21, they had 97M CAD in cash, and \~38.64M shares outstanding which puts them at **$2.51 CAD per share alone in pure cash, with no debt** (they can force conversion of their outstanding debenture.
Then you have the fully licensed exchange and clearinghouse which has a 200M+ USD liquidation comp: See the Singapore Mercantile Exchange which sold for 150M USD to ICE in 2013, not inflation adjusted, losing $20M USD per year with 8.2K ADV... Abaxx ADV currently at 17.5K and rising quickly, with today being 44.7K contracts. 200M USD / 38.64M shares = $5.18 USD per share / .75 = $6.90 CAD per share
Then you have the LabMag and KeMag deposits that are valued at literally zero on their books, but could reasonably fetch a distressed sale value of $100M USD if needed (not needed, which is why they sit around on the balance sheet until they can sell for much closer to 1B+ in a decade). 100M USD / 38.64 = $2.73 USD per share / .75 = $3.64 CAD per share
So right there, you're looking at $2.51+$6.90+$3.64 = 13 CAD in book value alone.
Maybe don't count on automated software to calculate a book value?

Abaxx is trading at liquidation value of $25 USD with ATB securities is giving it a blue sky valuation of $2500 should they get success in just 5 of their current contracts. This does not account for their future contract launches (like Silver which was just launched with Crude contract on horizon and many more) and it doesn't account for their MarketOS sales which I believe could make it worth significantly more.
[ATB Securities Suggesting Upwards of $2500](https://preview.redd.it/lcvodpukuf9h1.png?width=1080&format=png&auto=webp&s=695d60617589cbb385100e47559eeb6faf4d43d3)
Some of you complained first time I posted that it was already tripled. Well now you can get it at a steep discount to their last raise about a month ago at \~$37 USD after it peaked already at \~$50 USD. No complaints now.
[2 Months ago. You can now get it on Robinhood due to TSX listing](https://preview.redd.it/jhum1wu7uf9h1.png?width=693&format=png&auto=webp&s=ce7fa585f04928b5060206ba97b9a5f49e3f2cd7)
[8 months ago. Never Change WSB.](https://preview.redd.it/5wdbaiafuf9h1.png?width=323&format=png&auto=webp&s=be8a225398574f6541b7f257af4f858caa6a7712)
**Liquidation Value**
Abaxx is a globally licensed exchange and clearinghouse building physically delivered futures benchmark contracts. This means they have direct regulated access to basically the entire globe such as China, USA, EU, and UK. Given the surge in demand due to prediction markets. Josh (Abaxx CEO) indicated companies were looking to buy ones with a budget of $750-1 billion at the biggest futures event of the year in Boca.
[Demand sits at $750m to $1 billion](https://preview.redd.it/4sklopxpuf9h1.png?width=539&format=png&auto=webp&s=5ec73201b04cebb99f7629e42135f823d1133f2b)
Understandably, don't take just his word for it. The last time a Singapore Exchange (SMX) that was similar was back in 2013 for $200 million inflation adjusted. But they did not have direct USA access and Abaxx's volumes are currently double when sold. Abaxx also has a cloud native infrastructure which supports high scalability or the significant onboarding Abaxx currently has.
Abaxx has 11 ISVs connected, 5 in pipeline. 8 clearing firms connected (including China starting on Monday) and 13 in pipeline. Keep in mind, Clearing Firms take large amounts of commitments. LIkely in the millions worth as well as committing to reserve funds. And they also have 22 brokers with 10 in pipeline. Most of these should be completed in the next 6 months. As trading surges, it is likely we see more onboarding so I am projecting this time next year we are about half of the connectivity of the major exchanges like ICE and CME.
Additionally Abaxx is currently onboarding to Bloomberg (you can search it, not done yet) and they just finished onboarding to LSEG.
I propose given all of this, they are easily valued at $750+ million confirming Josh's claim. This suggests they are trading at near liquidation value today. Very limited and protected downside.
Then you have the wildcard asset of their iron ore deposits. Abaxx did a reverse merger of NML back in 2020 which owns one of the worlds biggest green iron ore deposits. NPV value back in 2014 at full build out was $7.3–7.6 billion inflation adjusted. Typically you would see a spin out company here where a mining company pays for all of the mine building and Abaxx contributes the deposits. This could be worth $$200–600 million to Abaxx shareholders. It's highly illiquid and needs a strong iron ore market which lately has been steadily growing in price.
**The Future Valuations**
I have presented my case that I believe Abaxx is trading at liquidation. Now I will present my case how you get all of the future valuation basically for free as a call option that does not expire.
Benchmark commodity contracts are worth ALOT of money. Brent and WTI are worth billions due to the fees collected on trading. It's a money printing machine with 70% margins because competition is difficult.

I won't go to deep into futures markets though as I went more in depth 2 months ago that I posted here: [Abaxx Technologies: Overthrowing COMEX and ICE as the new global commodities exchange](https://www.reddit.com/r/wallstreetbets/comments/1sjdzem/abaxx_technologies_overthrowing_comex_and_ice_as/)
To help calculate the valuations of Abaxx for their current products you can use this tool. [https://abxx-calc.lovable.app/](https://abxx-calc.lovable.app/)
If you adjust Digital Title amplifier to 2x and LNG to 100% you get close to the valuations estimated by ATB securities.
I added a Lobster Maine Contract (defaulted to 0) to show you how easy Abaxx can grow revenue by just adding markets that aren't currently handled by exchanges today. CEO mentioned this in the past.
You can see that if they achieve this, they are sitting well below current valuation and suggests we should be trading upwards of $5+ billion. 5x from the current liquidation. All of that growth you get for free.
**Revenue Projections**
At current pace without any growth, Abaxx current sits around $17 million ARR. They earn 1 million every 14 trading days right now. I know the first thing you probably think is, "why is it a billion dollar company on so little revenue"? And the answer is to go look at my first DD where they were earning like \~$700k a quarter at the same share price. It should be very clear that Abaxx can grow their revenues exponentially and are priced as such.

Starting this Monday, one of the biggest China futures brokerages will be giving their customers access to Abaxx. All of the trading now is dominated by a small amount of traders in Singapore, Thailand and India. Imagine what they will be doing once they have connected all of China, USA, and EU into their exchange over the next 6 months.
My working theory is that Abaxx will be rebating most revenue back to traders while they focus on the chicken/egg problem with liquidity. Traders won't trade without liquidity, liquidity won't grow without traders. So we should expect 1-2% dilution in 2027. I think doing this will more likely secure benchmark status in all of their contracts. They just finished a raise one month ago giving them enough runway for about 6 more quarters.
I do believe with all of their connectivity upcoming they will be sitting at \~250k daily trading volume next year. This is worth around $200 million USD in revenue with still lots of exponential growth left.
[Trading Volumes without China, EU, UK, or USA](https://preview.redd.it/bfc4wi7vuf9h1.png?width=1514&format=png&auto=webp&s=63f40591309cf8c516663a51a8da6ca471e51995)
**Uplisting**
They finally got TSX uplisting. Which means now its approved for OTC trading on Robinhood. Before Robinhood didn't let you touch it because it didn't have a "proper" listing yet. This also means they now qualify for TSX indexes which should generate about 1.5 million worth of shared demand in the next 6 months.
They might be looking to uplist to Nasdaq this year along with Singapore as well. I suspect they are waiting for more exchange onboarding and trading though. Although with China onboarding Monday maybe we see uplisting in Octoberish.
If we see uplisting there that would be another 2 million + share demand from indexes there alone.
All past DDs here which go more in depth on different aspects such as ESG commodities and their tech.
[8 months ago](https://www.reddit.com/r/wallstreetbets/comments/1omm40e/abaxx_technologies_newest_clearing_house_and/), [4 months ago](https://www.reddit.com/r/wallstreetbets/comments/1r4n9hs/abaxx_technologies_real_time_collateral_of_real/), [2 months ago](https://www.reddit.com/r/wallstreetbets/comments/1sjdzem/abaxx_technologies_overthrowing_comex_and_ice_as/)
**Position**
I have since increased my position since my last post to 10k shares.
https://preview.redd.it/etda99opwf9h1.png?width=909&format=png&auto=webp&s=3e312bbd3e9d461cf2827f7535bc2219c9f40367
https://preview.redd.it/pb0l8x2wwf9h1.png?width=1167&format=png&auto=webp&s=e28bfe55afda14fbae451e572f20d941e5f35ee5

Bunch of mexicans blaring their mariachi music across the street and yelling while doing construction and having to look at this nonsense with that in the background is gunna make me crash out and call ICE on them ngl.

Alright, for those of you who want to get a refund on all that options gambling money you've burned, now is the time to buy into the same casinos that routinely profit from your depravity and gambling addiction. Here's a quick list of derivatives exchanges, financial exchanges, business analytics firms, and asset managers, all at a discount.
Exchanges: CBOE, CME, ICE, MIAX, ASXFY, HKXCY, ERNXY.
Business Anal and Indy gatekeepers: NDAQ, IVZ (QQQ lads), and SPGI (yes, the S&P 500 guys).
Ass. Mans. trading near 52-week lows: AB, BLK, and BX.
If you don't hate crypto: BLSH, COIN, and CRCL are also heavily discounted.

Ich hab nach der ganzen ICE scheiße bei den amis einiges in den ETFL47 umgezogen. Der läuft seidem prima. Ist halt nicht der Knaller, wenns um Diversifizierung geht.

I just signed up with a company where I get 3 hours free electricity during the day. From now on, I'll come back home from work and I'm going to start the oven, microwave, air fryer, washing machine, dishwasher, dryer, charge my phone, laptop, run the tv on, lights on, heating on. Charge the battery of my ICE car(for no reason), and make a good use of this three hour free electricity window. Fuck I'm calling this a win in this economy.

It has very sticky AI software to help organise enterprise data across multiple sources.
Its’ earnings growth has been outstanding and until that changes these price movements will not affect my thesis.
Valuation is high, no doubt, which creates this volatility in the interim. But I’m willing to bet that earnings will continue to grow at an exceptional rate. Sometimes you have to pay for growth.
Fundamentals are not the issue of this company, but image is. Unfortunately it has strong ties to the Trump government and particularly the ICE program even though it was well embedded before Trump.
But people also ignore the fact it has healthcare, supply chain and commercial applications which have a positive societal impact.
I guess I’m willing to bet that the fundamentals will endure, but of course there are risks.

[Intercontinental Exchange, Inc. (ICE) Stock Price, News, Quote & History - Yahoo Finance](https://ca.finance.yahoo.com/quote/ICE/)
The NYSE is explicitly not a privately held company. Its a publicly held company

Sometimes I forget we're supposed to talk about stocks here
I am on THIN ICE with the mods
🫪

If i came here to visit from a country where BBQ didn't exist.. bro I'm never going back.. ICE would have to hunt me down. How tf do you not have real slow cooked juicy saucey BBQ...

So I’ve been reading a LOT of SaaS articles out there, many of them complaining about how value investing sucks or these bullish calls were awful and I’d just like to add my two cents based on some experience I’ve had for anyone out there that’s newer to this stuff.
I’d like to start off with a lesson that I’ve learned the very hard way and that is that it’s EXTREMELY hard to stay on the sidelines and wait once you’ve found a compelling stock or sector. This is what for the first 15 years of my investing career lead me to be early on basically every call that I made and then I’d ride it down an additional 35% before things eventually worked out.
As a recent example during the COVID crisis I was pretty keen to buy oil companies because I never bought into the story that EVs were gonna replace ICE vehicles overnight but I was early, and the weeks and months after my purchase were very very painful. However the bet ultimately paid off enormously, but it was a very challenging time to be long and wrong.
So I guess what I’m saying is that with any market dislocation don’t be too eager to jump in right away and all at once, these things take time to play out and the best positions will get built over time. When you do decide to wade into a position do it slowly because things can often drop further. Being in an unpopular trade feels awful but more often than not it doesn’t stay unpopular forever.
Best of luck to everyone out there and I hope all your trades work out!

Alright, for those of you who want to get a refund on all that options gambling money you've burned, now is the time to buy into the same casinos that routinely profit from your depravity and gambling addiction. Here's a quick list of derivatives exchanges, financial exchanges, business analytics firms, and asset managers, all at a discount.
Exchanges: CBOE, CME, ICE, MIAX, ASXFY, HKXCY, ERNXY.
Business Anal and Indy gatekeepers: NDAQ, IVZ (QQQ lads), and SPGI (yes, the S&P 500 guys).
Ass. Mans. trading near 52-week lows: AB, BLK, and BX.

Yeah, it's almost as bad as the US. The only thing missing over here is ICE, otherwise it would be just as bad.

You guys think when ICE Cube wrote F\*\*k the Police, he ever could have imagine that he would one day be playing a cop in movies or on CNBC discussing taking his basketball enterprise public 🤔

Small caps and TLT absolutely parabolic today
Big money already has the PCE report for tomorrow and it’s ICE COLD

I was driving the other day to a relatives house on Father’s Day. I COULD NOT believe how many cars were on the road. I recall 30yrs ago driving in the car with my parents during those times…so many more cars on the road now! Anyway, I bought $100K worth of Goodyear Tire (GT) on 6/19, leap calls…I cannot even recall expiry as I was too focused on how many cars with 4 wheels were on the road. Also threw in another $40 large on BP because so many cars are still ICE. Lol