Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2022

Financial data for our business segments is as follows for the three months ended March 31, 2022 and 2021 (in millions):


	Three Months Ended March 31, 2022
	Exchanges		Fixed Income and Data Services		Mortgage Technology		Consolidated
Revenues:
Energy futures and options	$	353	$	—	$	—	$	353
Agricultural and metals futures and options	61		—		—		61
Financial futures and options	130		—		—		130
Cash equities and equity options	659		—		—		659
OTC and other	97		—		—		97
Data and connectivity services	214		—		—		214
Listings	129		—		—		129
Fixed income execution	—		15		—		15
CDS clearing	—		72		—		72
Fixed income data and analytics	—		277		—		277
Other data and network services	—		145		—		145
Origination technology	—		—		203		203
Closing solutions	—		—		70		70
Data and analytics	—		—		20		20
Other	—		—		14		14
Revenues	1,643		509		307		2,459
Transaction-based expenses	560		—		—		560
Revenues, less transaction-based expenses	1,083		509		307		1,899
Operating expenses	299		354		254		907
Operating income	$	784	$	155	$	53	$	992


	Three Months Ended March 31, 2021
	Exchanges		Fixed Income and Data Services		Mortgage Technology		Consolidated
Revenues:
Energy futures and options	$	310	$	—	$	—	$	310
Agricultural and metals futures and options	59		—		—		59
Financial futures and options	105		—		—		105
Cash equities and equity options	734		—		—		734
OTC and other	77		—		—		77
Data and connectivity services	207		—		—		207
Listings	114		—		—		114
Fixed income execution	—		14		—		14
CDS clearing	—		55		—		55
Fixed income data and analytics	—		264		—		264
Other data and network services	—		135		—		135
Origination technology	—		—		254		254
Closing solutions	—		—		70		70
Data and analytics	—		—		18		18
Other	—		—		13		13
Revenues	1,606		468		355		2,429
Transaction-based expenses	632		—		—		632
Revenues, less transaction-based expenses	974		468		355		1,797
Operating expenses	321		335		249		905
Operating income	$	653	$	133	$	106	$	892