
	Six Months Ended June 30, 2025
	Exchanges		Fixed Income and Data Services		Mortgage Technology		Consolidated
Revenues:
Energy futures and options	$	1,152	$	—	$	—	$	1,152
Agricultural and metals futures and options	129		—		—		129
Financial futures and options	314		—		—		314
Cash equities and equity options	1,717		—		—		1,717
OTC and other	199		—		—		199
Data and connectivity services	501		—		—		501
Listings	245		—		—		245
Fixed income execution	—		63		—		63
CDS clearing	—		176		—		176
Fixed income data and analytics	—		605		—		605
Data and network technology	—		349		—		349
Origination technology	—		—		362		362
Closing solutions	—		—		105		105
Servicing software	—		—		441		441
Data and analytics	—		—		133		133
Revenues	4,257		1,193		1,041		6,491
Transaction-based expenses	1,475		—		—		1,475
Revenues, less transaction-based expenses	2,782		1,193		1,041		5,016
Other operating expenses	579		564		529		1,672
Depreciation and amortization	127		170		487		784
Acquisition-related transaction and integration costs	1		—		41		42
Operating expenses	707		734		1,057		2,498
Operating income/(loss)	$	2,075	$	459	$	(16)	$	2,518
Total other income/(expense), net							(319)
Income before income tax expense							$	2,199



	Three Months Ended June 30, 2025
	Exchanges		Fixed Income and Data Services		Mortgage Technology		Consolidated
Revenues:
Energy futures and options	$	595	$	—	$	—	$	595
Agricultural and metals futures and options	65		—		—		65
Financial futures and options	158		—		—		158
Cash equities and equity options	842		—		—		842
OTC and other	96		—		—		96
Data and connectivity services	255		—		—		255
Listings	123		—		—		123
Fixed income execution	—		32		—		32
CDS clearing	—		82		—		82
Fixed income data and analytics	—		306		—		306
Data and network technology	—		177		—		177
Origination technology	—		—		187		187
Closing solutions	—		—		58		58
Servicing software	—		—		220		220
Data and analytics	—		—		66		66
Revenues	2,134		597		531		3,262
Transaction-based expenses	719		—		—		719
Revenues, less transaction-based expenses	1,415		597		531		2,543
Other operating expenses	289		287		265		841
Depreciation and amortization	64		86		245		395
Acquisition-related transaction and integration costs	—		—		10		10
Operating expenses	353		373		520		1,246
Operating income	$	1,062	$	224	$	11	$	1,297
Total other income/(expense), net							(165)
Income before income tax expense							$	1,132


	Six Months Ended June 30, 2024
	Exchanges		Fixed Income and Data Services		Mortgage Technology		Consolidated
Revenues:
Energy futures and options	$	926	$	—	$	—	$	926
Agricultural and metals futures and options	143		—		—		143
Financial futures and options	267		—		—		267
Cash equities and equity options	1,301		—		—		1,301
OTC and other	204		—		—		204
Data and connectivity services	475		—		—		475
Listings	244		—		—		244
Fixed income execution	—		56		—		56
CDS clearing	—		171		—		171
Fixed income data and analytics	—		581		—		581
Data and network technology	—		325		—		325
Origination technology	—		—		354		354
Closing solutions	—		—		96		96
Servicing software	—		—		426		426
Data and analytics	—		—		129		129
Revenues	3,560		1,133		1,005		5,698
Transaction-based expenses	1,091		—		—		1,091
Revenues, less transaction-based expenses	2,469		1,133		1,005		4,607
Other operating expenses	550		550		565		1,665
Depreciation and amortization	132		161		469		762
Acquisition-related transaction and integration costs	—		—		51		51
Operating expenses	682		711		1,085		2,478
Operating income/(loss)	$	1,787	$	422	$	(80)	$	2,129
Total other income/(expense), net							(304)
Income before income tax expense							$	1,825


	Three Months Ended June 30, 2024
	Exchanges		Fixed Income and Data Services		Mortgage Technology		Consolidated
Revenues:
Energy futures and options	$	469	$	—	$	—	$	469
Agricultural and metals futures and options	71		—		—		71
Financial futures and options	132		—		—		132
Cash equities and equity options	691		—		—		691
OTC and other	101		—		—		101
Data and connectivity services	240		—		—		240
Listings	122		—		—		122
Fixed income execution	—		30		—		30
CDS clearing	—		78		—		78
Fixed income data and analytics	—		293		—		293
Data and network technology	—		164		—		164
Origination technology	—		—		180		180
Closing solutions	—		—		52		52
Servicing software	—		—		212		212
Data and analytics	—		—		62		62
Revenues	1,826		565		506		2,897
Transaction-based expenses	580		—		—		580
Revenues, less transaction-based expenses	1,246		565		506		2,317
Other operating expenses	294		276		285		855
Depreciation and amortization	62		81		238		381
Acquisition-related transaction and integration costs	—		—		15		15
Operating expenses	356		357		538		1,251
Operating income/(loss)	$	890	$	208	$	(32)	$	1,066
Total other income/(expense), net							(205)
Income before income tax expense							$	861