UPDATE 1-NYSE owner ICE reports 17 pct rise in 2nd-qtr profit

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Aug 3 (Reuters) - Intercontinental Exchange Inc, which owns the New York Stock Exchange, on Thursday reported a 17 percent rise in second-quarter profit, helped by a drop in operating and transaction-based costs.

Operating expenses fell 1.6 percent to $569 million in the second quarter, while transaction-based costs dropped 15.7 percent to $316 million.

Net income attributable to the exchange and clearing house operator rose to $418 million, or 70 cents per share, in the latest quarter ended June 30 from $357 million, or 60 cents per share, a year earlier.

However, total revenue fell to $1.49 billion from $1.50 billion, hurt by a 5 percent fall in transaction and clearing revenue. (Reporting by Diptendu Lahiri in Bengaluru; Editing by Supriya Kurane and Anil D'Silva)