v3.25.4
Segment Reporting - Schedule of Segment Reporting Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Total revenues $ 12,640 $ 11,761 $ 9,903
Transaction-based expenses 2,709 2,482 1,915
Total revenues, less transaction-based expenses 9,931 9,279 7,988
Other operating expenses 3,372 3,329 2,810
Depreciation and amortization 1,560 1,537 1,215
Acquisition-related transaction and integration costs 70 104 269
Total operating expenses 5,002 4,970 4,294
Operating income 4,929 4,309 3,694
Total other income/(expense), net (583) (681) (800)
Income before income tax expense 4,346 3,628 2,894
Exchanges      
Segment Reporting Information [Line Items]      
Total revenues 8,120 7,441 6,355
Transaction-based expenses 2,709 2,482 1,915
Total revenues, less transaction-based expenses 5,411 4,959 4,440
Other operating expenses 1,172 1,063 1,033
Depreciation and amortization 255 260 248
Acquisition-related transaction and integration costs 2 0 0
Total operating expenses 1,429 1,323 1,281
Operating income 3,982 3,636 3,159
Fixed Income and Data Services      
Segment Reporting Information [Line Items]      
Total revenues 2,419 2,298 2,231
Transaction-based expenses 0 0 0
Total revenues, less transaction-based expenses 2,419 2,298 2,231
Other operating expenses 1,140 1,129 1,079
Depreciation and amortization 344 326 341
Acquisition-related transaction and integration costs 2 0 0
Total operating expenses 1,486 1,455 1,420
Operating income 933 843 811
Mortgage Technology      
Segment Reporting Information [Line Items]      
Total revenues 2,101 2,022 1,317
Transaction-based expenses 0 0 0
Total revenues, less transaction-based expenses 2,101 2,022 1,317
Other operating expenses 1,060 1,137 698
Depreciation and amortization 961 951 626
Acquisition-related transaction and integration costs 66 104 269
Total operating expenses 2,087 2,192 1,593
Operating income 14 (170) (276)
Energy futures and options      
Segment Reporting Information [Line Items]      
Total revenues 2,182 1,876 1,498
Energy futures and options | Exchanges      
Segment Reporting Information [Line Items]      
Total revenues 2,182 1,876 1,498
Energy futures and options | Fixed Income and Data Services      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Energy futures and options | Mortgage Technology      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Agricultural and metals futures and options      
Segment Reporting Information [Line Items]      
Total revenues 233 257 271
Agricultural and metals futures and options | Exchanges      
Segment Reporting Information [Line Items]      
Total revenues 233 257 271
Agricultural and metals futures and options | Fixed Income and Data Services      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Agricultural and metals futures and options | Mortgage Technology      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Financial futures and options      
Segment Reporting Information [Line Items]      
Total revenues 608 559 460
Financial futures and options | Exchanges      
Segment Reporting Information [Line Items]      
Total revenues 608 559 460
Financial futures and options | Fixed Income and Data Services      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Financial futures and options | Mortgage Technology      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Cash equities and equity options      
Segment Reporting Information [Line Items]      
Total revenues 3,176 2,913 2,298
Cash equities and equity options | Exchanges      
Segment Reporting Information [Line Items]      
Total revenues 3,176 2,913 2,298
Cash equities and equity options | Fixed Income and Data Services      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Cash equities and equity options | Mortgage Technology      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
OTC and other      
Segment Reporting Information [Line Items]      
Total revenues 395 400 398
OTC and other | Exchanges      
Segment Reporting Information [Line Items]      
Total revenues 395 400 398
OTC and other | Fixed Income and Data Services      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
OTC and other | Mortgage Technology      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Data and connectivity services      
Segment Reporting Information [Line Items]      
Total revenues 1,031 947 933
Data and connectivity services | Exchanges      
Segment Reporting Information [Line Items]      
Total revenues 1,031 947 933
Data and connectivity services | Fixed Income and Data Services      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Data and connectivity services | Mortgage Technology      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Listings      
Segment Reporting Information [Line Items]      
Total revenues 495 489 497
Listings | Exchanges      
Segment Reporting Information [Line Items]      
Total revenues 495 489 497
Listings | Fixed Income and Data Services      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Listings | Mortgage Technology      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Fixed income execution      
Segment Reporting Information [Line Items]      
Total revenues 125 117 124
Fixed income execution | Exchanges      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Fixed income execution | Fixed Income and Data Services      
Segment Reporting Information [Line Items]      
Total revenues 125 117 124
Fixed income execution | Mortgage Technology      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
CDS clearing      
Segment Reporting Information [Line Items]      
Total revenues 338 343 360
CDS clearing | Exchanges      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
CDS clearing | Fixed Income and Data Services      
Segment Reporting Information [Line Items]      
Total revenues 338 343 360
CDS clearing | Mortgage Technology      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Fixed income data and analytics      
Segment Reporting Information [Line Items]      
Total revenues 1,234 1,177 1,118
Fixed income data and analytics | Exchanges      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Fixed income data and analytics | Fixed Income and Data Services      
Segment Reporting Information [Line Items]      
Total revenues 1,234 1,177 1,118
Fixed income data and analytics | Mortgage Technology      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Data and network technology      
Segment Reporting Information [Line Items]      
Total revenues 722 661 629
Data and network technology | Exchanges      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Data and network technology | Fixed Income and Data Services      
Segment Reporting Information [Line Items]      
Total revenues 722 661 629
Data and network technology | Mortgage Technology      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Origination technology      
Segment Reporting Information [Line Items]      
Total revenues 738 713 694
Origination technology | Exchanges      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Origination technology | Fixed Income and Data Services      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Origination technology | Mortgage Technology      
Segment Reporting Information [Line Items]      
Total revenues 738 713 694
Closing solutions      
Segment Reporting Information [Line Items]      
Total revenues 223 202 179
Closing solutions | Exchanges      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Closing solutions | Fixed Income and Data Services      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Closing solutions | Mortgage Technology      
Segment Reporting Information [Line Items]      
Total revenues 223 202 179
Servicing software      
Segment Reporting Information [Line Items]      
Total revenues 871 848 288
Servicing software | Exchanges      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Servicing software | Fixed Income and Data Services      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Servicing software | Mortgage Technology      
Segment Reporting Information [Line Items]      
Total revenues 871 848 288
Data and analytics      
Segment Reporting Information [Line Items]      
Total revenues 269 259 156
Data and analytics | Exchanges      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Data and analytics | Fixed Income and Data Services      
Segment Reporting Information [Line Items]      
Total revenues 0 0 0
Data and analytics | Mortgage Technology      
Segment Reporting Information [Line Items]      
Total revenues $ 269 $ 259 $ 156