REVENUE RECOGNITION (Tables)

6 Months Ended

Jun. 30, 2026

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table summarizes revenue disaggregated by the Company’s Options, Equities, Futures and International segments and the Corporate and Other unit (in thousands):

	Three Months Ended June 30, 2026
	Options		Equities		Futures		International		Corporate & Other		Consolidated
Revenue
Transaction and clearing fees	$	276,641	$	34,957	$	20,221	$	65	$	—	$	331,884
Access fees	30,756		3,797		406		39		(57)		34,941
Market data fees	8,996		1,825		1,312		80		(7)		12,206
Other revenue	101		—		2,623		5,560		314		8,598
	$	316,494	$	40,579	$	24,562	$	5,744	$	250	$	387,629
Timing of revenue recognition
Services transferred at a point in time	$	278,609	$	34,957	$	20,300	$	1,895	$	—	$	335,761
Services transferred over time	37,885		5,622		4,262		3,849		250		51,868
	$	316,494	$	40,579	$	24,562	$	5,744	$	250	$	387,629

	Three Months Ended June 30, 2025
	Options		Equities		Futures		International		Corporate & Other		Consolidated
Revenue
Transaction and clearing fees	$	232,412	$	34,339	$	19,311	$	77	$	—	$	286,139
Access fees	22,208		3,674		239		42		(57)		26,106
Market data fees	6,878		2,351		951		80		(7)		10,253
Other revenue	261		—		2,616		2,092		317		5,286
	$	261,759	$	40,364	$	23,117	$	2,291	$	253	$	327,784
Timing of revenue recognition
Services transferred at a point in time	$	232,790	$	34,340	$	19,514	$	643	$	—	$	287,287
Services transferred over time	28,969		6,024		3,603		1,648		253		40,497
	$	261,759	$	40,364	$	23,117	$	2,291	$	253	$	327,784

	Six Months Ended June 30, 2026
	Options		Equities		Futures		International		Corporate & Other		Consolidated
Revenue
Transaction and clearing fees	$	543,459	$	62,845	$	40,864	$	126	$	—	$	647,294
Access fees	59,874		7,664		796		78		(114)		68,298
Market data fees	18,478		3,982		2,556		160		(15)		25,161
Other revenue	135		53		4,684		11,024		670		16,566
	$	621,946	$	74,544	$	48,900	$	11,388	$	541	$	757,319
Timing of revenue recognition
Services transferred at a point in time	$	548,363	$	62,898	$	40,999	$	3,851	$	—	$	656,111
Services transferred over time	73,583		11,646		7,901		7,537		541		101,208
	$	621,946	$	74,544	$	48,900	$	11,388	$	541	$	757,319

	Six Months Ended June 30, 2025
	Options		Equities		Futures		International		Corporate & Other		Consolidated
Revenue
Transaction and clearing fees	$	466,924	$	68,646	$	39,760	$	113	$	—	$	575,443
Access fees	42,592		7,154		476		81		(114)		50,189
Market data fees	13,076		4,638		2,036		160		(15)		19,895
Other revenue	261		—		5,642		2,763		668		9,334
	$	522,853	$	80,438	$	47,914	$	3,117	$	539	$	654,861
Timing of revenue recognition
Services transferred at a point in time	$	467,389	$	68,646	$	40,249	$	763	$	—	$	577,047
Services transferred over time	55,464		11,792		7,665		2,354		539		77,814
	$	522,853	$	80,438	$	47,914	$	3,117	$	539	$	654,861