Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2023

Financial data for our business segments is as follows for the three months ended March 31, 2023 and 2022 (in millions):


	Three Months Ended March 31, 2023
	Exchanges		Fixed Income and Data Services		Mortgage Technology		Consolidated
Revenues:
Energy futures and options	$	345	$	—	$	—	$	345
Agricultural and metals futures and options	70		—		—		70
Financial futures and options	128		—		—		128
Cash equities and equity options	671		—		—		671
OTC and other	101		—		—		101
Data and connectivity services	232		—		—		232
Listings	126		—		—		126
Fixed income execution	—		32		—		32
CDS clearing	—		101		—		101
Fixed income data and analytics	—		276		—		276
Other data and network services	—		154		—		154
Origination technology	—		—		167		167
Closing solutions	—		—		40		40
Data and analytics	—		—		21		21
Other	—		—		8		8
Revenues	1,673		563		236		2,472
Transaction-based expenses	576		—		—		576
Revenues, less transaction-based expenses	1,097		563		236		1,896
Operating expenses	332		343		252		927
Operating income/(loss)	$	765	$	220	$	(16)	$	969


	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	—		—		72		72
Data and analytics	—		—		20		20
Other	—		—		12		12
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