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REVENUE RECOGNITION (Tables)

12 Months Ended

Dec. 31, 2021

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


			North								Corporate
			American		Europe and						Items and
	Options		Equities		Asia Pacific		Futures		Global FX		Eliminations		Total
Year Ended December 31, 2021
Transaction and clearing fees	$	1,231.2	$	1,173.1	$	145.3	$	95.2	$	48.3	$	—	$	2,693.1
Access and capacity fees		124.0		98.0		31.2		18.7		8.8		—		280.7
Market data fees		84.3		134.6		25.6		6.6		1.0		—		252.1
Regulatory fees		46.6		161.6		—		0.1		—		—		208.3
Other revenue		18.9		3.2		38.2		—		—		0.3		60.6
		1,505.0		1,570.5		240.3		120.6		58.1		0.3		3,494.8
Timing of revenue recognition
Services transferred at a point in time	$	1,296.7	$	1,337.9	$	183.5	$	95.3	$	48.3	$	0.3	$	2,962.0
Services transferred over time		208.3		232.6		56.8		25.3		9.8		—		532.8
		1,505.0		1,570.5		240.3		120.6		58.1		0.3		3,494.8

Year Ended December 31, 2020
Transaction and clearing fees	$	1,046.3	$	1,147.2	$	90.9	$	84.5	$	49.1	$	—	$	2,418.0
Access and capacity fees		107.0		84.2		20.6		17.0		7.9		—		236.7
Market data fees		74.2		137.0		13.4		6.6		0.8		—		232.0
Regulatory fees		83.4		416.8		—		—		—		—		500.2
Other revenue		19.2		4.3		15.6		1.1		—		—		40.2
		1,330.1		1,789.5		140.5		109.2		57.8		—		3,427.1
Timing of revenue recognition
Services transferred at a point in time	$	1,148.9	$	1,568.3	$	106.5	$	85.6	$	49.1	$	—	$	2,958.4
Services transferred over time		181.2		221.2		34.0		23.6		8.7		—		468.7
		1,330.1		1,789.5		140.5		109.2		57.8		—		3,427.1

Year Ended December 31, 2019
Transaction and clearing fees	$	742.9	$	744.6	$	73.1	$	110.2	$	45.4	$	—	$	1,716.2
Access and capacity fees		104.1		78.9		16.5		15.6		6.8		—		221.9
Market data fees		55.7		138.1		12.6		6.5		0.6		—		213.5
Regulatory fees		64.0		247.0		—		0.7		—		—		311.7
Other revenue		16.4		4.5		8.6		2.9		0.2		0.2		32.8
		983.1		1,213.1		110.8		135.9		53.0		0.2		2,496.1
Timing of revenue recognition
Services transferred at a point in time	$	823.3	$	996.1	$	81.7	$	113.8	$	45.6	$	0.2	$	2,060.7
Services transferred over time		159.8		217.0		29.1		22.1		7.4		—		435.4
		983.1		1,213.1		110.8		135.9		53.0		0.2		2,496.1

Schedule of revenue recognized from contract liabilities and the remaining balance


	Balance at January 1, 2021			Cash Additions		Revenue Recognized		Balance at December 31, 2021
Liquidity provider sliding scale (1)	$	—	$	7.2	$	(7.2)	$	—
Other, net		10.2		17.6		(12.5)		15.3
Total deferred revenue	$	10.2	$	24.8	$	(19.7)	$	15.3

(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.