May 2 (Reuters) - Intercontinental Exchange (ICE.N) New Tab, opens new tab reported a rise in adjusted profit for the first quarter on Thursday as volumes hit a record on surge in energy markets trading.

The conflict in the Middle East has resulted in a reshaping of the global commodities and energy markets, significantly raising volatility as investors assess the impact of shifting supply chains.

Energy trading volumes surged a record 27% with gains across segments, including oil, gasoil as well as other crude and refined products. Natural gas average daily volumes jumped 34%, including record options.

Trading across other markets was also robust with agriculture and metals climbing 11%, helped by a record 47% surge in cocoa trading volume.

Prices of the commodity behind chocolate have soared to all-time highs as supply tightened after years of poor harvests.

Total average daily volumes at ICE jumped 16% to hit a record in the first quarter. Consolidated net revenue rose 21% to $2.3 billion.

While U.S. initial public offerings are expected to rebound this year as capital market volatility settles, the post-debut performance of newly listed companies has been uneven, prompting some caution from investors.

Listings revenue fell 4% to $122 million.

The company's flagship New York Stock Exchange hosted the IPOs of several high-profile companies in the first quarter, including social media firm Reddit (RDDT.N) New Tab, opens new tab and Wilson tennis racket maker Amer Sports (AS.N) New Tab, opens new tab.

ICE's adjusted first-quarter net income rose to $852 million, or $1.48 per share compared with $791 million, or $1.41 per share, a year earlier.

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https://www.reuters.com/business/finance/nyse-parent-ices-profit-rises-record-surge-energy-market-volatility-2024-05-02/