| Disaggregation of Revenue |
The following table summarizes revenue disaggregated by the Company’s Options, Equities, Futures and International segments and the Corporate and Other unit (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, 2026 | | Options | | Equities | | Futures | | International | | Corporate & Other | | Consolidated | | Revenue | | | | | | | | | | | | Transaction and clearing fees | $ | 274,261 | | | $ | 22,788 | | | $ | 19,300 | | $ | 71 | | $ | — | | | $ | 316,420 | | | Access fees | 32,689 | | | 3,824 | | | 455 | | 38 | | (57) | | | 36,949 | | | Market data fees | 10,211 | | | 2,082 | | | 1,512 | | 80 | | (8) | | | 13,877 | | | Other revenue | 125 | | | — | | | 2,505 | | 5,950 | | 357 | | | 8,937 | | | $ | 317,286 | | | $ | 28,694 | | | $ | 23,772 | | | $ | 6,139 | | | $ | 292 | | | $ | 376,183 | | | | | | | | | | | | | | | Timing of revenue recognition | | | | | | | | | | | | | Services transferred at a point in time | $ | 276,704 | | | $ | 22,789 | | | $ | 19,355 | | $ | 2,204 | | | $ | — | | | $ | 321,052 | | | Services transferred over time | 40,582 | | | 5,905 | | | 4,417 | | 3,935 | | | 292 | | | 55,131 | | | $ | 317,286 | | | $ | 28,694 | | | $ | 23,772 | | | $ | 6,139 | | | $ | 292 | | | $ | 376,183 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, 2025 | | Options | | Equities | | Futures | | International | | Corporate & Other | | Consolidated | | Revenue | | | | | | | | | | | | Transaction and clearing fees | $ | 245,406 | | | $ | 31,899 | | | $ | 15,424 | | | $ | 85 | | | $ | — | | | $ | 292,814 | | | Access fees | 23,076 | | | 3,761 | | | 275 | | | 41 | | | (57) | | | 27,096 | | | Market data fees | 7,011 | | | 2,368 | | | 1,279 | | | 80 | | | (8) | | | 10,730 | | | Other revenue | 1,047 | | | — | | | 2,386 | | | 5,327 | | | 378 | | | 9,138 | | | $ | 276,540 | | | $ | 38,028 | | | $ | 19,364 | | | $ | 5,533 | | | $ | 313 | | | $ | 339,778 | | | | | | | | | | | | | | | Timing of revenue recognition | | | | | | | | | | | | | Services transferred at a point in time | $ | 246,661 | | | $ | 31,899 | | | $ | 15,632 | | | $ | 1,924 | | | $ | — | | | $ | 296,116 | | | Services transferred over time | 29,879 | | | 6,129 | | | 3,732 | | | 3,609 | | | 313 | | | 43,662 | | | $ | 276,540 | | | $ | 38,028 | | | $ | 19,364 | | | $ | 5,533 | | | $ | 313 | | | $ | 339,778 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Nine Months Ended September 30, 2026 | | Options | | Equities | | Futures | | International | | Corporate & Other | | Consolidated | | Revenue | | | | | | | | | | | | | Transaction and clearing fees | $ | 817,720 | | | $ | 85,633 | | | $ | 60,164 | | $ | 197 | | $ | — | | | $ | 963,714 | | | Access fees | 92,563 | | | 11,488 | | | 1,251 | | 116 | | (171) | | | 105,247 | | | Market data fees | 28,689 | | | 6,064 | | | 4,068 | | 240 | | (23) | | | 39,038 | | | Other revenue | 260 | | | 53 | | | 7,189 | | 16,974 | | 1,027 | | | 25,503 | | | $ | 939,232 | | | $ | 103,238 | | | $ | 72,672 | | $ | 17,527 | | $ | 833 | | | $ | 1,133,502 | | | | | | | | | | | | | | | Timing of revenue recognition | | | | | | | | | | | | Services transferred at a point in time | $ | 825,068 | | | $ | 85,686 | | | $ | 60,352 | | $ | 6,056 | | | $ | — | | | $ | 977,162 | | | Services transferred over time | 114,164 | | | 17,552 | | | 12,320 | | 11,471 | | | 833 | | | 156,340 | | | $ | 939,232 | | | $ | 103,238 | | | $ | 72,672 | | $ | 17,527 | | | $ | 833 | | | $ | 1,133,502 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Nine Months Ended September 30, 2025 | | Options | | Equities | | Futures | | International | | Corporate & Other | | Consolidated | | Revenue | | | | | | | | | | | | Transaction and clearing fees | $ | 712,330 | | | $ | 100,545 | | | $ | 55,184 | | | $ | 198 | | | $ | — | | | $ | 868,257 | | | Access fees | 65,668 | | | 10,915 | | | 751 | | | 122 | | | (171) | | | 77,285 | | | Market data fees | 20,087 | | | 7,006 | | | 3,315 | | | 240 | | | (23) | | | 30,625 | | | Other revenue | 1,308 | | | — | | | 8,028 | | | 8,090 | | | 1,046 | | | 18,472 | | | $ | 799,393 | | | $ | 118,466 | | | $ | 67,278 | | | $ | 8,650 | | | $ | 852 | | | $ | 994,639 | | | | | | | | | | | | | | | Timing of revenue recognition | | | | | | | | | | | | | Services transferred at a point in time | $ | 714,048 | | | $ | 100,545 | | | $ | 55,881 | | | $ | 2,688 | | | $ | — | | | $ | 873,162 | | | Services transferred over time | 85,345 | | | 17,921 | | | 11,397 | | | 5,962 | | | 852 | | | 121,477 | | | $ | 799,393 | | | $ | 118,466 | | | $ | 67,278 | | | $ | 8,650 | | | $ | 852 | | | $ | 994,639 | |
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