Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Financial data for our business segments is as follows for the years ended December 31, 2017, 2016 and 2015 (in millions):

	Trading and Clearing Segment		Data and Listings Segment		Consolidated
Year Ended December 31, 2017
Revenues, less transaction-based expenses	$	2,128	$	2,501	$	4,629
Operating expenses	779		1,471		2,250
Operating income	1,349		1,030		2,379
Year Ended December 31, 2016
Revenues, less transaction-based expenses	$	2,102	$	2,397	$	4,499
Operating expenses	825		1,507		2,332
Operating income	1,277		890		2,167
Year Ended December 31, 2015
Revenues, less transaction-based expenses	$	2,062	$	1,276	$	3,338
Operating expenses	915		673		1,588
Operating income	1,147		603		1,750

Schedule of Geographical Segments

The following represents our revenues, less transaction-based expenses, net assets and net property and equipment based on the geographic location (in millions):

	United States		Foreign Countries		Total
Revenues, less transaction-based expenses:
Year ended December 31, 2017	$	2,794	$	1,835	$	4,629
Year ended December 31, 2016	$	2,744	$	1,755	$	4,499
Year ended December 31, 2015	$	1,973	$	1,365	$	3,338
Net assets:
As of December 31, 2017	$	9,124	$	7,828	$	16,952
As of December 31, 2016	$	7,877	$	7,913	$	15,790
Property and equipment, net:
As of December 31, 2017	$	1,134	$	112	$	1,246
As of December 31, 2016	$	1,009	$	120	$	1,129