By Dave Sebastian

Intercontinental Exchange Inc. on Thursday set its outlook for the third quarter as it earned more from transactions during the second quarter amid the Covid-19 pandemic.

The parent of the New York Stock Exchange said it sees data revenue of $575 million to $580 million. It sees quarterly operating expenses of $651 million to $661 million, or $580 million to $590 million on an adjusted basis. Third-quarter non-operating expenses are expected to be $20 million to $25 million.

Intercontinental Exchange assumes third-quarter effective tax rate of 33% to 35%, or 24% to 26% on an adjusted basis. For the fourth quarter, it expects reported and adjusted effective tax rate of 22% to 24%.

The company expects full-year operating expenses of $2.617 billion to $2.667 billion, or $2.32 billion to $2.37 billion on an adjusted basis.

For the third quarter, the company expects diluted share count to be between 542 million to 548 million weighted average shares outstanding.

Write to Dave Sebastian at dave.sebastian@wsj.com