REVENUE (Tables)

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue Disaggregated by Revenue Source

The following table presents our revenue disaggregated by revenue source:

	Year Ended December 31,
(in millions)	2020		2021		2022
Transaction-based revenues:
Options	$	440	$	690	$	488
Cryptocurrencies	27		420		202
Equities	251		287		117
Other	2		5		7
Total transaction-based revenues	720		1,402		814
Net interest revenues:
Margin interest	67		132		177
Interest on corporate cash and investments	2		1		103
Securities lending, net	98		136		89
Interest on segregated cash and cash equivalents and deposits	14		4		57
Cash Sweep, net	1		3		22
Interest expenses related to credit facilities	(5)		(20)		(24)
Total net interest revenues	177		256		424
Other revenues	61		157		120
Total net revenues	$	958	$	1,815	$	1,358

Receivables and Contract Balances

The table below sets forth contract receivables and liabilities balances for the periods indicated:

	December 31, 2021
(in millions)	Contract Receivables		Contract Liabilities
Beginning of the period, January 1, 2021	$	112	$	2
End of the period, December 31, 2021	83		3
Changes during the period	$	(29)	$	1

	December 31, 2022
(in millions)	Contract Receivables		Contract Liabilities
Beginning of period, January 1, 2022	$	83	$	3
End of period, December 31, 2022	60		3
Changes during the period	$	(23)	$	—