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REVENUE RECOGNITION (Tables)

3 Months Ended

Mar. 31, 2021

The following table depicts the disaggregation of revenue according to segment (in millions):


			North								Corporate
			American						Global		Items and
	Options		Equities		Futures		Europe		FX		Eliminations		Total
Three Months Ended March 31, 2021
Transaction and clearing fees	$	308.7	$	381.8	$	25.6	$	34.7	$	12.4	$	—	$	763.2
Access and capacity fees		29.4		23.4		4.4		7.1		2.1		—		66.4
Market data fees		20.5		37.5		1.6		4.0		0.2		—		63.8
Regulatory fees		19.1		82.4		—		—		—		—		101.5
Other revenue		4.7		0.9		—		10.0		—		0.3		15.9
	$	382.4	$	526.0	$	31.6	$	55.8	$	14.7	$	0.3	$	1,010.8
Timing of revenue recognition
Services transferred at a point in time	$	332.5	$	465.1	$	25.6	$	44.7	$	12.4	$	0.3	$	880.6
Services transferred over time		49.9		60.9		6.0		11.1		2.3		—		130.2
	$	382.4	$	526.0	$	31.6	$	55.8	$	14.7	$	0.3	$	1,010.8

Three Months Ended March 31, 2020
Transaction and clearing fees	$	284.2	$	304.0	$	35.9	$	22.3	$	15.1	$	—	$	661.5
Access and capacity fees		27.2		20.0		4.0		4.9		1.6		—		57.7
Market data fees		17.2		34.0		1.6		3.2		0.2		—		56.2
Regulatory fees		22.3		114.5		—		—		—		—		136.8
Other revenue		5.6		1.2		—		2.5		—		—		9.3
	$	356.5	$	473.7	$	41.5	$	32.9	$	16.9	$	—	$	921.5
Timing of revenue recognition
Services transferred at a point in time	$	312.1	$	419.7	$	35.9	$	24.8	$	15.1	$	—	$	807.6
Services transferred over time		44.4		54.0		5.6		8.1		1.8		—		113.9
	$	356.5	$	473.7	$	41.5	$	32.9	$	16.9	$	—	$	921.5

Schedule of revenue recognized from contract liabilities and the remaining balance

The revenue recognized from contract liabilities and the remaining balance is shown below (in millions):


	Balance at January 1, 2021		Cash Additions		Revenue Recognized		Balance at March 31, 2021
Liquidity provider sliding scale (1)	$	—	$	7.2	$	(1.8)	$	5.4
Other, net		10.2		8.4		(2.8)		15.8
Total deferred revenue	$	10.2	$	15.6	$	(4.6)	$	21.2

(1)

Liquidity providers are eligible to participate in the sliding scale program, which involves prepayment of transaction fees, and to receive reduced fees based on the achievement of certain volume thresholds within a calendar month. These transaction fees are amortized and recorded ratably as the transactions occur over the period.