REVENUES (Tables)

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Revenue Disaggregated by Revenue Source

The following table presents our revenue disaggregated by revenue source:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in millions)	2022		2023		2022		2023
Transaction-based revenues:
Options	$	124	$	124	$	364	$	384
Cryptocurrencies	51		23		163		92
Equities	31		27		96		79
Other	2		11		5		30
Total transaction-based revenues	208		185		628		585
Net interest revenues:
Interest on corporate cash and investments	29		75		40		217
Margin interest	48		67		122		177
Interest on segregated cash and cash equivalents and deposits	20		59		27		156
Cash sweep	8		35		10		86
Securities lending, net	29		17		76		70
Credit card, net	—		4		—		4
Interest expenses related to credit facilities	(6)		(6)		(18)		(17)
Total net interest revenues	128		251		257		693
Other revenues	25		31		93		116
Total net revenues	$	361	$	467	$	978	$	1,394

Schedule of Contract Receivables and Liabilities Balances

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

(in millions)	Contract Receivables		Contract Liabilities
Beginning of period, January 1, 2023	$	60	$	3
End of period, September 30, 2023	58		4
Changes during the period	$	(2)	$	1

Schedule of Interest Revenue Earned and Interest Expense Paid from Fully-paid Securities Lending

The following table presents interest revenue earned and interest expense paid from Fully-Paid Securities Lending:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in millions)	2022		2023		2022		2023
Interest revenue	$	5	$	12	$	5	$	35
Interest expense	(1)		(2)		(1)		(5)
Fully-Paid Securities Lending, net	$	4	$	10	$	4	$	30