v3.25.3
Revenue from Contracts with Customers (Tables)
9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following tables summarize the disaggregation of revenue by major product and service and by segment for the three and nine months ended September 30, 2025 and 2024:
Three Months Ended September 30,
 
2025
2024
 (in millions)
Capital Access Platforms:
Data & Listing Services$204 $190 
Index206 182 
Workflow & Insights136 129 
Financial Technology:
Financial Crime Management Technology84 69 
Regulatory Technology109 68 
Capital Markets Technology264 234 
Market Services, net303 266 
Other revenues
Revenues less transaction-based expenses$1,315 $1,146 
Nine Months Ended September 30,
20252024
(in millions)
Capital Access Platforms
Data & Listing Services$594 $562 
Index595 517 
Workflow & Insights399 381 
Financial Technology
Financial Crime Management Technology241 200 
Regulatory Technology315 253 
Capital Markets Technology796 730 
Market Services, net890 752 
Other revenues27 27 
Revenues less transaction-based expenses$3,857 $3,422 
Schedule of Remaining Performance Obligation
The following table summarizes the amount of the transaction price allocated to performance obligations that are unsatisfied, for contract durations greater than one year, as of September 30, 2025:
Financial Crime Management TechnologyRegulatory TechnologyCapital Markets TechnologyWorkflow & InsightsTotal
(in millions)
Remainder of 2025
$82 $81 $88 $51 $302 
2026312 276 326 157 1,071 
2027231 205 263 85 784 
2028123 132 194 29 478 
202938 62 121 229 
2030+11 51 274 10 346 
Total$797 $807 $1,266 $340 $3,210