Buy ICE by Sep 12, 2026.

Curious what people here think about ICE — Intercontinental Exchange. I’ve been looking at it more lately and it feels like one of those businesses that is easy to underrate because it doesn’t screen like a “cheap stock,” but the business quality is pretty obvious. They own critical financial market infrastructure: exchanges, clearing, NYSE, energy futures, fixed income/data services, mortgage tech, etc. The moat seems pretty durable to me. Once liquidity, clearing, benchmarks, and data workflows build around a platform, …