ICE posts 24% decline in Q4 profit

The InterContinental Exchange said its fourth-quarter profit was hit by a $16 million write-down in its holding in a derivatives exchange in India, NCDEX, and trading cuts by financial institutions. Quarterly net income fell from $65 million in 2007 to $49 million last year. ICE said it planned to reduce its work force as much as 7% by the end of March.

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