REVENUE RECOGNITION (Tables)

6 Months Ended

Jun. 30, 2018

REVENUE RECOGNITION

Schedule of disaggregation of revenue

											Corporate
							European				items and
	Options		U.S. Equities		Futures		Equities		Global FX		eliminations		Total
Three Months Ended June 30, 2018
Transaction fees	$	189.0	$	211.9	$	26.9	$	24.2	$	12.8	$	—	$	464.8
Access fees		14.5		11.4		2.1		2.2		1.0		—		31.2
Exchange services and other fees		9.9		7.3		1.7		1.5		0.6		—		21.0
Market data fees		10.6		36.6		1.8		3.4		0.1		—		52.5
Regulatory fees		15.5		73.7		0.1		—		—		—		89.3
Other revenue		4.6		2.3		—		1.6		—		0.2		8.7
	$	244.1	$	343.2	$	32.6	$	32.9	$	14.5	$	0.2	$	667.5
Timing of revenue recognition
Services transferred at a point in time	$	209.1	$	287.9	$	27.0	$	25.8	$	12.8	$	0.2	$	562.8
Services transferred over time		35.0		55.3		5.6		7.1		1.7		—		104.7
	$	244.1	$	343.2	$	32.6	$	32.9	$	14.5	$	0.2	$	667.5
Three Months Ended June 30, 2017
Transaction fees	$	181.2	$	208.3	$	34.0	$	20.8	$	9.6	$	—	$	453.9
Access fees		13.9		12.7		0.5		1.8		0.8		—		29.7
Exchange services and other fees		10.1		5.9		2.2		1.2		0.5		—		19.9
Market data fees		10.5		33.9		0.8		2.8		—		—		48.0
Regulatory fees		14.7		68.6		—		—		—		—		83.3
Other revenue		3.1		1.7		—		1.0		—		0.2		6.0
	$	233.5	$	331.1	$	37.5	$	27.6	$	10.9	$	0.2	$	640.8
Timing of revenue recognition
Services transferred at a point in time	$	199.0	$	278.6	$	34.0	$	21.8	$	9.6	$	0.2	$	543.2
Services transferred over time		34.5		52.5		3.5		5.8		1.3		—		97.6
	$	233.5	$	331.1	$	37.5	$	27.6	$	10.9	$	0.2	$	640.8

											Corporate
			U.S				European		Global		Item and
	Options		Equities		Futures		Equities		FX		Eliminations		Total
Six Months Ended June 30, 2018
Transaction fees	$	424.8	$	445.7	$	65.7	$	49.9	$	25.8	$	—	$	1,011.9
Access fees		28.0		23.1		2.4		4.4		1.9		—		59.8
Exchange services and other fees		20.0		13.7		5.1		3.0		1.2		—		43.0
Market data fees		21.4		75.1		3.2		6.8		0.2		—		106.7
Regulatory fees		33.3		172.2		0.1		—		—		—		205.6
Other revenue		10.7		3.9		—		3.2		—		0.4		18.2
	$	538.2	$	733.7	$	76.5	$	67.3	$	29.1	$	0.4	$	1,445.2
Timing of revenue recognition
Services transferred at a point in time	$	468.8	$	621.8	$	65.8	$	53.1	$	25.8	$	0.4	$	1,235.7
Services transferred over time		69.4		111.9		10.7		14.2		3.3		—		209.5
	$	538.2	$	733.7	$	76.5	$	67.3	$	29.1	$	0.4	$	1,445.2
Six Months Ended June 30, 2017
Transaction fees	$	321.4	$	285.0	$	62.7	$	28.0	$	13.2	$	—	$	710.3
Access fees		26.2		16.9		1.0		2.4		1.0		—		47.5
Exchange services and other fees		23.0		7.9		2.2		1.6		0.6		—		35.3
Market data fees		20.9		45.0		0.8		3.7		0.1		—		70.5
Regulatory fees		27.4		94.2		—		—		—		—		121.6
Other revenue		7.3		2.3		0.7		1.2		—		0.3		11.8
	$	426.2	$	451.3	$	67.4	$	36.9	$	14.9	$	0.3	$	997.0
Timing of revenue recognition
Services transferred at a point in time	$	356.1	$	381.5	$	63.4	$	29.2	$	13.2	$	0.3	$	843.7
Services transferred over time		70.1		69.8		4.0		7.7		1.7		—		153.3
	$	426.2	$	451.3	$	67.4	$	36.9	$	14.9	$	0.3	$	997.0

Schedule of revenue recognized from contract liabilities

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

	Balance at January 1, 2018		Cash Additions		Revenue Recognition		Balance at June 30, 2018
Liquidity provider sliding scale (1)	$	4.8	$	4.8	$	(4.8)	$	4.8
Other, net		10.6		8.0		(6.0)		12.6
Total deferred revenue	$	15.4	$	12.8	$	(10.8)	$	17.4

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.