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Business Segments (Tables)
 3 Months Ended
Mar. 31, 2017
Segment Reporting [Abstract]  
Schedule of Operating Segments
The following table presents certain information regarding our operating segments for the three months ended March 31, 2017 and 2016:
 
Market Services
 
Corporate Services
 
Information Services
 
Market Technology
 
Corporate Items
 
Consolidated
 
(in millions)
Three Months Ended March 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Total revenues
$
606

 
$
160

 
$
138

 
$
67

 
$
—

 
$
971

Transaction-based expenses
(388
)
 
—

 
—

 
—

 
—

 
(388
)
Revenues less transaction-based expenses
218

 
160

 
138

 
67

 
—

 
583

Operating income (loss)
$
119

 
$
43

 
$
102

 
$
13

 
$
(29
)
 
$
248

Three Months Ended March 31, 2016
 
 
 
 
 
 
 
 
 
 
 
Total revenues
$
572

 
$
143

 
$
133

 
$
57

 
$
—

 
$
905

Transaction-based expenses
(371
)
 
—

 
—

 
—

 
—

 
(371
)
Revenues less transaction-based expenses
201

 
143

 
133

 
57

 
—

 
534

Operating income (loss)
$
113

 
$
34

 
$
97

 
$
10

 
$
(35
)
 
$
219
Schedule of Corporate Items
A summary of our corporate items are as follows:
 
Three Months Ended March 31,
 
2017
 
2016
 
(in millions)
Amortization expense of acquired intangible assets
$
23

 
$
17

Restructuring charges
—

 
9

Merger and strategic initiatives expense
6

 
9

Total
$
29

 
$
35