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REVENUE RECOGNITION (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of disaggregated revenue contract types The following table depicts the disaggregated revenue contract types listed above within each respective financial statement caption in the consolidated statements of income (in millions):
Cash and Spot
Markets		Data VantageDerivatives
Markets		Total
Year Ended December 31, 2024
Transaction and clearing fees$1,196.3 $— $1,708.3 $2,904.6 
Access and capacity fees— 369.8 — 369.8 
Market data fees60.4 203.9 30.5 294.8 
Regulatory fees320.2 — 106.1 426.3 
Other revenue93.1 2.9 3.0 99.0 
$1,670.0 $576.6 $1,847.9 $4,094.5 
Cash and Spot
Markets		Data VantageDerivatives
Markets		Total
Year Ended December 31, 2023
Transaction and clearing fees$1,149.7 $— $1,681.6 $2,831.3 
Access and capacity fees— 347.5 — 347.5 
Market data fees71.3 188.7 33.7 293.7 
Regulatory fees153.8 — 69.9 223.7 
Other revenue70.3 3.0 4.0 77.3 
$1,445.1 $539.2 $1,789.2 $3,773.5 
Cash and Spot
Markets		Data VantageDerivatives
Markets		Total
Year Ended December 31, 2022
Transaction and clearing fees$1,375.5 $— $1,563.3 $2,938.8 
Access and capacity fees— 324.2 — 324.2 
Market data fees80.3 168.7 33.2 282.2 
Regulatory fees280.2 — 84.5 364.7 
Other revenue41.6 4.1 2.9 48.6 
$1,777.6 $497.0 $1,683.9 $3,958.5 
Schedule of disaggregation of revenue according to segment
The following table depicts the disaggregation of revenue according to segment (in millions):
OptionsNorth
American
Equities		Europe and
Asia Pacific		FuturesGlobal FXDigitalTotal
Year Ended December 31, 2024
Transaction and clearing fees$1,599.0 $970.5 $159.6 $109.2 $66.6 $(0.3)$2,904.6 
Access and capacity fees168.4 127.7 40.3 22.4 11.0 — 369.8 
Market data fees123.8 120.8 39.4 9.3 1.5 — 294.8 
Regulatory fees105.9 320.2 — 0.2 — — 426.3 
Other revenue5.5 7.6 84.9 — 0.8 0.2 99.0 
$2,002.6 $1,546.8 $324.2 $141.1 $79.9 $(0.1)$4,094.5 
Timing of revenue recognition
Services transferred at a point in time$1,710.4 $1,298.3 $244.5 $109.4 $67.4 $(0.1)$3,429.9 
Services transferred over time292.2 248.5 79.7 31.7 12.5 — 664.6 
$2,002.6 $1,546.8 $324.2 $141.1 $79.9 $(0.1)$4,094.5 
Year Ended December 31, 2023
Transaction and clearing fees$1,583.7 $946.3 $145.6 $98.0 $62.2 $(4.5)$2,831.3 
Access and capacity fees161.0 117.1 36.3 22.0 10.7 0.4 347.5 
Market data fees118.8 128.3 36.7 8.5 1.4 — 293.7 
Regulatory fees69.6 153.8 — 0.3 — — 223.7 
Other revenue6.4 7.5 62.6 0.2 0.6 — 77.3 
$1,939.5 $1,353.0 $281.2 $129.0 $74.9 $(4.1)$3,773.5 
Timing of revenue recognition
Services transferred at a point in time$1,659.7 $1,107.6 $208.2 $98.5 $62.8 $(4.5)$3,132.3 
Services transferred over time279.8 245.4 73.0 30.5 12.1 0.4 641.2 
$1,939.5 $1,353.0 $281.2 $129.0 $74.9 $(4.1)$3,773.5 
Year Ended December 31, 2022
Transaction and clearing fees$1,471.7 $1,155.3 $161.9 $91.6 $58.0 $0.3 $2,938.8 
Access and capacity fees151.7 109.3 34.0 19.9 9.3 — 324.2 
Market data fees108.7 131.2 33.1 8.0 1.2 — 282.2 
Regulatory fees84.2 280.2 — 0.3 — — 364.7 
Other revenue6.9 5.7 35.6 — 0.4 — 48.6 
$1,823.2 $1,681.7 $264.6 $119.8 $68.9 $0.3 $3,958.5 
Timing of revenue recognition
Services transferred at a point in time$1,562.8 $1,441.2 $197.5 $91.9 $58.4 $0.3 $3,352.1 
Services transferred over time260.4 240.5 67.1 27.9 10.5 — 606.4 
$1,823.2 $1,681.7 $264.6 $119.8 $68.9 $0.3 $3,958.5 
Schedule of revenue recognized from contract liabilities and the remaining balance The revenue recognized from contract liabilities and the remaining balance is shown below (in millions):
Balance at
December 31, 2023		Cash
Additions		Revenue
Recognized		Balance at
December 31, 2024
Liquidity provider sliding scale (1)$—$9.6$(7.2)$2.4
Other, net (2)6.115.1(17.0)4.2
Total deferred revenue$6.1$24.7$(24.2)$6.6
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(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.
(2)Other, net deferred revenue represents cash received for unsatisfied performance obligations of liability classified contract liabilities that have yet to be recognized as revenue in the consolidated statements of income, which include but are not limited to: licensing fees, listing fees, adjustments related to ORF, membership fees, and data subscription fees.