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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenues:    
Total revenues $ 1,195.0 $ 957.2
Cost of revenues:    
Total cost of revenues 629.8 455.1
Revenues less cost of revenues 565.2 502.1
Operating expenses:    
Compensation and benefits 116.2 115.3
Depreciation and amortization 30.3 37.3
Technology support services 25.6 24.2
Professional fees and outside services 20.8 21.5
Travel and promotional expenses 6.4 7.5
Facilities costs 6.2 6.5
Acquisition-related costs 0.2 0.6
Other expenses 5.6 6.8
Total operating expenses 211.3 219.7
Operating income 353.9 282.4
Non-operating (expenses) income:    
Interest expense (12.8) (13.0)
Interest income 8.4 4.1
(Loss) earnings on investments, net (3.3) 14.0
Other income, net 4.0 4.6
Income (loss) before income tax provision (benefit) 350.2 292.1
Income tax provision 99.6 82.6
Net income 250.6 209.5
Net income allocated to participating securities (1.2) (1.2)
Net income allocated to participating securities (1.2) (1.2)
Net income allocated to common stockholders 249.4 208.3
Net income allocated to common stockholders $ 249.4 $ 208.3
Basic earnings per share (in USD per share) $ 2.38 $ 1.97
Diluted earnings per share (in USD per share) $ 2.37 $ 1.96
Basic weighted average shares outstanding (in shares) 104.7 105.6
Diluted weighted average shares outstanding (in shares) 105.1 106.1
Cash and spot markets    
Revenues:    
Total revenues $ 500.9 $ 380.9
Data Vantage    
Revenues:    
Total revenues 152.5 140.2
Derivatives markets    
Revenues:    
Total revenues 541.6 436.1
Liquidity payments    
Cost of revenues:    
Total cost of revenues 394.8 338.8
Routing and clearing    
Cost of revenues:    
Total cost of revenues 19.6 16.0
Section 31 fees    
Cost of revenues:    
Total cost of revenues 153.1 42.1
Royalty fees and other cost of revenues    
Cost of revenues:    
Total cost of revenues $ 62.3 $ 58.2