Intercontinental Exchange said its board authorised a new $300 million share repurchase plan, joining a growing list of companies looking to take advantage of the market volatility in recent weeks to add shareholder value.

"Though we continue to focus on capital deployment to support growth, we do not believe that our recent share price has reflected our strong fundamentals, and offered us an opportunity to repurchase shares at what we believe are attractive levels," chief financial officer Scott Hill said.