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v3.25.3

REVENUE RECOGNITION - Revenue by Product Line and Segment (Details) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended
--- | --- | --- | ---
Sep. 30, 2025 USD ($) | Sep. 30, 2024 USD ($) | Sep. 30, 2025 USD ($) fee segment | Sep. 30, 2024 USD ($) | Dec. 31, 2024 segment
Segment Reporting Information |  |  |  |  |
Number of reportable segments | segment |  |  | 5 |  | 6
Number of types of regulatory fees recognized | fee |  |  | 2 |  |
Revenues | $ 1,141.7 | $ 1,055.7 | $ 3,510.2 | $ 2,986.9 |
Services transferred at a point in time |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 954.1 | 888.0 | 2,963.4 | 2,492.9 |
Services transferred over time |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 187.6 | 167.7 | 546.8 | 494.0 |
Options | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 616.0 | 510.3 | 1,776.4 | 1,470.0 |
Options | Operating Segments | Services transferred at a point in time |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 531.8 | 437.5 | 1,533.7 | 1,253.8 |
Options | Operating Segments | Services transferred over time |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 84.2 | 72.8 | 242.7 | 216.2 |
North American Equities | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 377.8 | 403.6 | 1,279.7 | 1,106.5 |
North American Equities | Operating Segments | Services transferred at a point in time |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 308.4 | 340.2 | 1,076.4 | 921.8 |
North American Equities | Operating Segments | Services transferred over time |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 69.4 | 63.4 | 203.3 | 184.7 |
Europe and Asia Pacific | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 92.8 | 81.1 | 284.9 | 243.4 |
Europe and Asia Pacific | Operating Segments | Services transferred at a point in time |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 70.2 | 60.8 | 218.1 | 183.5 |
Europe and Asia Pacific | Operating Segments | Services transferred over time |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 22.6 | 20.3 | 66.8 | 59.9 |
Futures | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 32.0 | 39.9 | 99.8 | 107.2 |
Futures | Operating Segments | Services transferred at a point in time |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 23.8 | 31.8 | 75.4 | 83.5 |
Futures | Operating Segments | Services transferred over time |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 8.2 | 8.1 | 24.4 | 23.7 |
Global FX | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 23.1 | 20.7 | 69.4 | 60.0 |
Global FX | Operating Segments | Services transferred at a point in time |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 19.9 | 17.6 | 59.8 | 50.6 |
Global FX | Operating Segments | Services transferred over time |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 3.2 | 3.1 | 9.6 | 9.4 |
Digital | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 0.0 | 0.1 | 0.0 | (0.2) |
Digital | Operating Segments | Services transferred at a point in time |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 0.0 | 0.1 | 0.0 | (0.3) |
Digital | Operating Segments | Services transferred over time |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 0.0 | 0.0 | 0.0 | 0.1 |
Transaction and clearing fees |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 919.9 | 725.9 | 2,620.2 | 2,142.0 |
Transaction and clearing fees | Options | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 519.0 | 405.3 | 1,451.8 | 1,181.0 |
Transaction and clearing fees | North American Equities | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 305.1 | 231.0 | 877.0 | 709.9 |
Transaction and clearing fees | Europe and Asia Pacific | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 52.4 | 40.5 | 157.2 | 118.2 |
Transaction and clearing fees | Futures | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 23.8 | 31.7 | 75.2 | 83.3 |
Transaction and clearing fees | Global FX | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 19.6 | 17.4 | 59.0 | 50.0 |
Transaction and clearing fees | Digital | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 0.0 | 0.0 | 0.0 | (0.4) |
Access and capacity fees |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 103.9 | 94.2 | 302.9 | 274.8 |
Access and capacity fees | Options | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 47.0 | 42.3 | 136.3 | 125.6 |
Access and capacity fees | North American Equities | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 36.6 | 33.2 | 106.7 | 93.5 |
Access and capacity fees | Europe and Asia Pacific | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 11.8 | 10.3 | 34.6 | 30.4 |
Access and capacity fees | Futures | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 5.7 | 5.7 | 17.0 | 16.9 |
Access and capacity fees | Global FX | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 2.8 | 2.7 | 8.3 | 8.3 |
Access and capacity fees | Digital | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 0.0 | 0.0 | 0.0 | 0.1 |
Market data fees |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 83.7 | 73.5 | 243.9 | 219.2 |
Market data fees | Options | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 37.2 | 30.5 | 106.4 | 90.6 |
Market data fees | North American Equities | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 32.8 | 30.2 | 96.6 | 91.2 |
Market data fees | Europe and Asia Pacific | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 10.8 | 10.0 | 32.2 | 29.5 |
Market data fees | Futures | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 2.5 | 2.4 | 7.4 | 6.8 |
Market data fees | Global FX | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 0.4 | 0.4 | 1.3 | 1.1 |
Market data fees | Digital | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 0.0 | 0.0 | 0.0 | 0.0 |
Regulatory fees |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 11.8 | 139.0 | 270.4 | 275.1 |
Regulatory fees | Options | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 10.8 | 31.0 | 77.3 | 68.9 |
Regulatory fees | North American Equities | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 1.0 | 107.9 | 193.0 | 206.0 |
Regulatory fees | Europe and Asia Pacific | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 0.0 | 0.0 | 0.0 | 0.0 |
Regulatory fees | Futures | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 0.0 | 0.1 | 0.1 | 0.2 |
Regulatory fees | Global FX | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 0.0 | 0.0 | 0.0 | 0.0 |
Regulatory fees | Digital | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 0.0 | 0.0 | 0.0 | 0.0 |
Other revenue |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 22.4 | 23.1 | 72.8 | 75.8 |
Other revenue | Options | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 2.0 | 1.2 | 4.6 | 3.9 |
Other revenue | North American Equities | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 2.3 | 1.3 | 6.4 | 5.9 |
Other revenue | Europe and Asia Pacific | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 17.8 | 20.3 | 60.9 | 65.3 |
Other revenue | Futures | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 0.0 | 0.0 | 0.1 | 0.0 |
Other revenue | Global FX | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 0.3 | 0.2 | 0.8 | 0.6 |
Other revenue | Digital | Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 0.0 | 0.1 | 0.0 | 0.1 |
Cash and spot markets |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 415.0 | 434.1 | 1,403.5 | 1,201.4 |
Cash and spot markets | Transaction and clearing fees |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 377.0 | 288.9 | 1,093.1 | 877.7 |
Cash and spot markets | Access and capacity fees |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 0.0 | 0.0 | 0.0 | 0.0 |
Cash and spot markets | Market data fees |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 16.8 | 15.5 | 49.5 | 46.1 |
Cash and spot markets | Regulatory fees |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 1.0 | 107.9 | 193.0 | 206.0 |
Cash and spot markets | Other revenue |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 20.2 | 21.8 | 67.9 | 71.6 |
Data Vantage |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 162.1 | 145.6 | 472.9 | 427.9 |
Data Vantage | Transaction and clearing fees |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 0.0 | 0.0 | 0.0 | 0.0 |
Data Vantage | Access and capacity fees |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 103.9 | 94.2 | 302.9 | 274.8 |
Data Vantage | Market data fees |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 57.5 | 50.7 | 167.9 | 150.9 |
Data Vantage | Regulatory fees |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 0.0 | 0.0 | 0.0 | 0.0 |
Data Vantage | Other revenue |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 0.7 | 0.7 | 2.1 | 2.2 |
Derivatives markets |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 564.6 | 476.0 | 1,633.8 | 1,357.6 |
Derivatives markets | Transaction and clearing fees |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 542.9 | 437.0 | 1,527.1 | 1,264.3 |
Derivatives markets | Access and capacity fees |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 0.0 | 0.0 | 0.0 | 0.0 |
Derivatives markets | Market data fees |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 9.4 | 7.3 | 26.5 | 22.2 |
Derivatives markets | Regulatory fees |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | 10.8 | 31.1 | 77.4 | 69.1 |
Derivatives markets | Other revenue |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Revenues | $ 1.5 | $ 0.6 | $ 2.8 | $ 2.0 |

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