(Reuters) - Intercontinental Exchange ( ICE ) reported an estimate-beating profit rise of 9% in the second quarter on Thursday, helped by strong performance in its exchange business as trading remained robust.

The conflict in the Middle East has changed the landscape for global commodity and energy markets, significantly raising volatility and bumping up trades as investors assess the impact of shifting supply chains.

Trading volumes at exchanges typically do better in times of market fluctuation, as investors rejig portfolios or when there is a broad-based rally, which encourages riskier trades.

Energy trading volumes surged 31% in the second quarter, with gains across segments including oil, gasoil as well as other crude and refined products. Natural gas average daily volumes jumped 36%.

Total revenue from ICE's exchange business, the biggest component of its income base, jumped to $1.25 billion in the reported quarter, up from $1.09 billion in the year-ago period.

High interest rates have dampened investor expectations of a rebound in the U.S. IPO market in 2024, which has been marked by uneven post-debut performances of some high-profile names that came forward with new listings in the second quarter.

Microsoft-backed cybersecurity company Rubrik opened at $38.6 per share in its April market debut, but closed nearly 4% below that price on Wednesday.

The listings unit, a part of ICE's exchange segment, saw a 3% fall in second-quarter revenue, even though the NYSE has raked in more from IPO proceeds in the first half of 2024, compared to the last two years.

The company reported adjusted earnings of $876 million, or $1.52 per share, in the quarter ended June 30, compared to $802 million, or $1.43 apiece last year.

Analysts had expected a profit of $1.49 per share in the second quarter.