REVENUES (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Revenue Disaggregated by Revenue Source

The following table presents our revenues disaggregated by revenue source:

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2023		2024		2023		2024
Transaction-based revenues:
Options	$	127	$	182	$	260	$	336
Cryptocurrencies	31		81		69		207
Equities	25		40		52		79
Other	10		24		19		34
Total transaction-based revenues	193		327		400		656
Net interest revenues:
Margin interest	57		73		110		145
Interest on corporate cash and investments	74		66		142		136
Interest on segregated cash, securities, and deposits	52		68		97		126
Cash Sweep	29		44		51		83
Securities lending, net	27		34		53		49
Credit card, net	—		6		—		12
Interest expenses related to credit facilities	(5)		(6)		(11)		(12)
Total net interest revenues	234		285		442		539
Other revenues
Gold subscription revenues	18		26		35		49
Proxy revenues	38		38		45		45
Other	3		6		5		11
Total other revenues	$	59	$	70	$	85	$	105
Total net revenues	$	486	$	682	$	927	$	1,300

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 June 30,				Six Months Ended June 30,
(in millions)	2023		2024		2023		2024
Interest revenue	$	13	$	27	$	23	$	40
Interest expense	(1)		(4)		(3)		(6)
Fully-Paid Securities Lending, net	$	12	$	23	$	20	$	34

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 the period, January 1, 2024	$	87	4
End of the period, June 30, 2024	137		8
Changes during the period	$	50	$	4