The following table depicts the disaggregation of our revenue according to business line and segment (in millions). Segment totals here are consistent with the segment totals in Note 18:



	Trading & Clearing Segment		Data & Listings Segment		Total Consolidated
Year ended December 31, 2018
Transaction and clearing, net	$	3,483	$	—	$	3,483
Data services	—		2,115		2,115
Listings	—		444		444
Other revenues	234		—		234
Total revenues	3,717		2,559		6,276
Transaction-based expenses	1,297		—		1,297
Total revenues, less transaction-based expenses	$	2,420	$	2,559	$	4,979

Timing of Revenue Recognition
Services transferred at a point in time	$	2,074	$	—	$	2,074
Services transferred over time	346		2,559		2,905
Total revenues, less transaction-based expenses	$	2,420	$	2,559	$	4,979



	Trading & Clearing Segment		Data & Listings Segment		Total Consolidated
Year ended December 31, 2017
Transaction and clearing, net	$	3,131	$	—	$	3,131
Data services	—		2,084		2,084
Listings	—		426		426
Other revenues	202		—		202
Total revenues	3,333		2,510		5,843
Transaction-based expenses	1,205		—		1,205
Total revenues, less transaction-based expenses	$	2,128	$	2,510	$	4,638

Timing of Revenue Recognition
Services transferred at a point in time	$	1,813	$	—	$	1,813
Services transferred over time	315		2,510		2,825
Total revenues, less transaction-based expenses	$	2,128	$	2,510	$	4,638



	Trading & Clearing Segment		Data & Listings Segment		Total Consolidated
Year ended December 31, 2016
Transaction and clearing, net	$	3,384	$	—	$	3,384
Data services	—		1,978		1,978
Listings	—		432		432
Other revenues	177		—		177
Total revenues	3,561		2,410		5,971
Transaction-based expenses	1,459		—		1,459
Total revenues, less transaction-based expenses	$	2,102	$	2,410	$	4,512

Timing of Revenue Recognition
Services transferred at a point in time	$	1,791	$	—	$	1,791
Services transferred over time	311		2,410		2,721
Total revenues, less transaction-based expenses	$	2,102	$	2,410	$	4,512

The Trading and Clearing segment revenues above include $248 million, $226 million, and $219 million in 2018, 2017 and 2016, respectively, for services transferred over time related to risk management of open interest performance obligations. A majority of these performance obligations are performed over a short period of time of one month or less.