Revenue From Contracts With Customers (Tables)

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The tables below present revenue from contracts with customers by geographic location and major types of services for the periods indicated.


		Three Months Ended March 31,
		2026					2025

		(in millions)

Geographic location 1
United States		$		413			$		362
International				286					230
		$		699			$		592

Major types of services
Commissions		$		613			$		514
Market data fees 2				21					19
Risk exposure fees 2				26					28
Payments for order flow 2				15					13
FDIC sweep fees 2				10					8
Other 2				14					10
		$		699			$		592

1.

Based on the location of the subsidiaries in which the revenues are recorded.

2.

Reported in “Other fees and services” in the condensed consolidated statements of comprehensive income.