REVENUE RECOGNITION (Tables)

3 Months Ended

Mar. 31, 2020

REVENUE RECOGNITION

Schedule of disaggregation of revenue

			U.S.				European		Global
	Options		Equities		Futures		Equities		FX		Total
Three Months Ended March 31, 2020
Transaction fees	$	284.2	$	304.0	$	35.9	$	22.3	$	15.1	$	661.5
Access and capacity fees		27.2		20.0		4.0		4.9		1.6		57.7
Market data fees		17.2		34.0		1.6		3.2		0.2		56.2
Regulatory fees		22.3		114.5		—		—		—		136.8
Other revenue		5.6		1.2		—		2.5		—		9.3
	$	356.5	$	473.7	$	41.5	$	32.9	$	16.9	$	921.5
Timing of revenue recognition
Services transferred at a point in time	$	312.1	$	419.7	$	35.9	$	24.8	$	15.1	$	807.6
Services transferred over time		44.4		54.0		5.6		8.1		1.8		113.9
	$	356.5	$	473.7	$	41.5	$	32.9	$	16.9	$	921.5
Three Months Ended March 31, 2019
Transaction fees	$	173.8	$	198.9	$	24.6	$	21.1	$	12.0	$	430.4
Access and capacity fees		26.0		19.0		3.7		4.0		1.7		54.4
Market data fees		13.7		32.9		1.7		3.2		0.1		51.6
Regulatory fees		14.5		43.7		0.5		—		—		58.7
Other revenue		4.1		1.3		—		2.0		0.1		7.5
	$	232.1	$	295.8	$	30.5	$	30.3	$	13.9	$	602.6
Timing of revenue recognition
Services transferred at a point in time	$	192.4	$	243.9	$	25.1	$	23.1	$	12.1	$	496.6
Services transferred over time		39.7		51.9		5.4		7.2		1.8		106.0
	$	232.1	$	295.8	$	30.5	$	30.3	$	13.9	$	602.6

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, 2020		Cash Additions		Revenue Recognition		Balance at March 31, 2020
Liquidity provider sliding scale (1)	$	—	$	9.6	$	(2.4)	$	7.2
Other, net		4.5		13.2		(7.6)		10.1
Total deferred revenue	$	4.5	$	22.8	$	(10.0)	$	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.