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REVENUE RECOGNITION (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2021
Transaction and clearing fees	$	283.2	$	268.0	$	22.2	$	33.3	$	11.5	$	—	$	618.2
Access and capacity fees		29.6		23.8		4.3		7.2		2.2		—		67.1
Market data fees		21.0		34.8		1.7		5.1		0.2		—		62.8
Regulatory fees		10.7		26.1		0.1		—		—		—		36.9
Other revenue		5.5		0.8		—		9.5		—		—		15.8
	$	350.0	$	353.5	$	28.3	$	55.1	$	13.9	$	—	$	800.8
Timing of revenue recognition
Services transferred at a point in time	$	299.4	$	294.9	$	22.3	$	42.8	$	11.5	$	—	$	670.9
Services transferred over time		50.6		58.6		6.0		12.3		2.4		—		129.9
	$	350.0	$	353.5	$	28.3	$	55.1	$	13.9	$	—	$	800.8

Three Months Ended June 30, 2020
Transaction and clearing fees	$	250.8	$	325.1	$	15.8	$	15.2	$	11.4	$	—	$	618.3
Access and capacity fees		23.9		20.9		4.1		4.7		2.1		—		55.7
Market data fees		17.8		35.8		1.7		3.2		0.2		—		58.7
Regulatory fees		21.0		107.7		—		—		—		—		128.7
Other revenue		4.1		1.0		—		2.2		—		—		7.3
	$	317.6	$	490.5	$	21.6	$	25.3	$	13.7	$	—	$	868.7
Timing of revenue recognition
Services transferred at a point in time	$	275.9	$	433.8	$	15.8	$	17.4	$	11.4	$	—	$	754.3
Services transferred over time		41.7		56.7		5.8		7.9		2.3		—		114.4
	$	317.6	$	490.5	$	21.6	$	25.3	$	13.7	$	—	$	868.7


			North								Corporate
			American						Global		Items and
	Options		Equities		Futures		Europe		FX		Eliminations		Total
Six Months Ended June 30, 2021
Transaction and clearing fees	$	591.9	$	649.8	$	47.8	$	68.0	$	23.9	$	—	$	1,381.4
Access and capacity fees		59.0		47.2		8.7		14.3		4.3		—		133.5
Market data fees		41.5		72.3		3.3		9.1		0.4		—		126.6
Regulatory fees		29.8		108.5		0.1		—		—		—		138.4
Other revenue		10.2		1.7		—		19.5		—		0.3		31.7
	$	732.4	$	879.5	$	59.9	$	110.9	$	28.6	$	0.3	$	1,811.6
Timing of revenue recognition
Services transferred at a point in time	$	631.9	$	760.0	$	47.9	$	87.5	$	23.9	$	0.3	$	1,551.5
Services transferred over time		100.5		119.5		12.0		23.4		4.7		—		260.1
	$	732.4	$	879.5	$	59.9	$	110.9	$	28.6	$	0.3	$	1,811.6

Six Months Ended June 30, 2020
Transaction and clearing fees	$	535.0	$	629.1	$	51.7	$	37.5	$	26.5	$	—	$	1,279.8
Access and capacity fees		51.1		40.9		8.1		9.6		3.7		—		113.4
Market data fees		35.0		69.8		3.3		6.4		0.4		—		114.9
Regulatory fees		43.3		222.2		—		—		—		—		265.5
Other revenue		9.7		2.2		—		4.7		—		—		16.6
	$	674.1	$	964.2	$	63.1	$	58.2	$	30.6	$	—	$	1,790.2
Timing of revenue recognition
Services transferred at a point in time	$	588.0	$	853.5	$	51.7	$	42.2	$	26.5	$	—	$	1,561.9
Services transferred over time		86.1		110.7		11.4		16.0		4.1		—		228.3
	$	674.1	$	964.2	$	63.1	$	58.2	$	30.6	$	—	$	1,790.2

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 June 30, 2021
Liquidity provider sliding scale (1)	$	—	$	7.2	$	(3.6)	$	3.6
Other, net		10.2		9.3		(5.8)		13.7
Total deferred revenue	$	10.2	$	16.5	$	(9.4)	$	17.3

(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.