CME (CME) 10-Q1 May 242024 Q1 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2024	Apr. 10, 2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-31553
Entity Registrant Name	CME GROUP INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-4459170
Entity Address, Street Address	20 South Wacker Drive
Entity Address, City	Chicago
Entity Address, State	IL
Entity Address, Postal Zip Code	60606
City Area Code	312
Local Phone Number	930-1000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of each class	Class A Common Stock
Trading symbol	CME
Name of each exchange on which registered	NASDAQ
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001156375
Amendment Flag	false
Class A Common Stock [Member]
Entity Common Stock, Shares Outstanding		360,062,233
Class B Common Stock, Class B-1 [Member]
Entity Common Stock, Shares Outstanding		625
Class B Common Stock, Class B-2 [Member]
Entity Common Stock, Shares Outstanding		813
Class B Common Stock, Class B-3 [Member]
Entity Common Stock, Shares Outstanding		1,287
Class B Common Stock, Class B-4 [Member]
Entity Common Stock, Shares Outstanding		413

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Mar. 31, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents		$ 1,436.9	$ 2,912
Marketable securities		121	111.7
Accounts receivable, net of allowance of $7.9 and $7.1		628.2	535.6
Other current assets (includes $5.2 in restricted cash)		647.7	1,138.4
Performance bonds and guaranty fund contributions		94,473.9	90,192.5
Total current assets		97,307.7	94,890.2
Property, net of accumulated depreciation and amortization of $958.8 and $931.1		396	409.5
Intangible assets—trading products	[1]	17,175.3	17,175.3
Intangible assets—other, net		2,990	3,050.2
Goodwill		10,489.6	10,495.3
Other assets		3,695.1	3,685.6
Total Assets		132,053.7	129,706.1
Liabilities and Equity
Accounts payable		111	90.6
Short-term Debt		749.3	0
Other current liabilities		767.2	3,133.8
Performance bonds and guaranty fund contributions		94,473.9	90,192.5
Total current liabilities		96,101.4	93,416.9
Long-term debt		2,676.7	3,425.4
Deferred income tax liabilities, net		5,317.2	5,327.7
Other liabilities		804.2	798.2
Total Liabilities		104,899.5	102,968.2
Shareholders' Equity:
Preferred stock, $0.01 par value, 10,000 shares authorized as of March 31, 2024 and December 31, 2023; 4,584 issued and outstanding as of March 31, 2024 and December 31, 2023		0	0
Additional paid-in capital		22,345.6	22,334.7
Retained earnings		4,891.1	4,455.2
Accumulated other comprehensive income (loss)		(86.1)	(55.6)
Total CME Group Shareholders’ Equity		27,154.2	26,737.9
Total Liabilities and Equity		132,053.7	129,706.1
Class A Common Stock [Member]
Shareholders' Equity:
Common stock		3.6	3.6
Class B Common Stock [Member]
Shareholders' Equity:
Common stock		$ 0	$ 0

[1] Trading products represent futures and options products acquired in our business combinations with CBOT Holdings, Inc., NYMEX Holdings, Inc. and The Board of Trade of Kansas City, Missouri, Inc. Clearing and transaction fees are generated through the trading of these products. These trading products, most of which have traded for decades, require authorization from the Commodity Futures Trading Commission (CFTC). Product authorizations from the CFTC have no term limits.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Accounts receivable, allowance	$ 7.9	$ 7.1
Short-term restricted cash	5.2	5.2
Accumulated depreciation and amortization, property	958.8	931.1
Long-term restricted cash	$ 0	$ 0
Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	4,584,000	4,584,000
Preferred stock, shares outstanding (in shares)	4,584,000	4,584,000
Class A Common Stock [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	359,322,000	359,231,000
Common stock, shares outstanding (in shares)	359,322,000	359,231,000
Class B Common Stock [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	3,000	3,000
Common stock, shares issued (in shares)	3,000	3,000
Common stock, shares outstanding (in shares)	3,000	3,000

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues
Total Revenues	$ 1,487.9	$ 1,441.6
Expenses
Compensation and benefits	206	204.5
Technology	59.4	51.3
Professional fees and outside services	33.1	38.3
Amortization of purchased intangibles	55.2	56.8
Depreciation and amortization	30.1	31.9
Licensing and other fee agreements	87.9	84.7
Other	56.6	60.4
Total Expenses	528.3	527.9
Operating Income	959.6	913.7
Non-Operating Income (Expense)
Investment income	1,071.3	1,357.7
Interest and other borrowing costs	(39.9)	(39.9)
Equity in net earnings of unconsolidated subsidiaries	87.2	78.2
Other non-operating income (expense)	(964.8)	(1,152.8)
Total Non-Operating Income (Expense)	153.8	243.2
Income before Income Taxes	1,113.4	1,156.9
Income tax provision	258.2	273.1
Net Income	855.2	883.8
Net Income Attributable to Common Shareholders of CME Group	$ 844.4	$ 872.7
Earnings per Share Attributable to Common Shareholders of CME Group:
Basic (in dollars per share)	$ 2.35	$ 2.43
Diluted (in dollars per share)	$ 2.35	$ 2.43
Weighted Average Number of Common Shares:
Basic (in shares)	359,258	358,933
Diluted (in shares)	359,833	359,313
Clearing and transaction fees [Member]
Revenues
Total Revenues	$ 1,208.9	$ 1,200.2
Market data and information services
Revenues
Total Revenues	175.4	165.8
Other
Revenues
Total Revenues	$ 103.6	$ 75.6

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net Income	$ 855.2	$ 883.8
Other comprehensive income (loss), net of tax:
Net unrealized holding gains (losses) arising during the period	0	0.4
Income tax benefit (expense)	0	(0.1)
Investment securities, net	0	0.3
Net change in defined benefit plans arising during the period	(5.9)	(3.5)
Income tax benefit (expense)	1.5	0.9
Defined benefit plans, net	(4.4)	(2.6)
Reclassification of net unrealized (gains) losses to interest expense and other non-operating income (expense)	(0.9)	(1.2)
Income tax benefit (expense)	0.2	0.3
Derivative investments, net	(0.7)	(0.9)
Foreign currency translation adjustments	(25.4)	5.9
Foreign currency translation, net	(25.4)	5.9
Other comprehensive income (loss), net of tax	(30.5)	2.7
Comprehensive income	$ 824.7	$ 886.5

Consolidated Statements Of Shar

Consolidated Statements Of Shareholders' Equity - USD ($) shares in Thousands, $ in Millions	Total	Common Stock And Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Parent [Member]	Class A Common Stock [Member]	Class A Common Stock [Member] Common Stock And Additional Paid-In Capital [Member]	Class B Common Stock [Member]	Class B Common Stock [Member] Common Stock And Additional Paid-In Capital [Member]	Preferred Stock [Member] Common Stock And Additional Paid-In Capital [Member]
Balance (in shares) at Dec. 31, 2022							358,929		3	4,584
Balance at Dec. 31, 2022		$ 22,265.2	$ 4,746.8	$ (133.3)	$ 26,878.7
Net Income			883.8		883.8
Net Income	$ 883.8
Other comprehensive income (loss), net of tax	2.7			2.7	2.7
Dividends, Cash			(400.7)		(400.7)
Vesting of issued restricted Class A common stock, shares							2
Vesting of issued restricted Class A common stock		(0.3)			(0.3)
Stock-based compensation		20.2			20.2
Balance (in shares) at Mar. 31, 2023							358,931		3	4,584
Balance at Mar. 31, 2023		22,285.1	5,229.9	(130.6)	27,384.4
Balance (in shares) at Dec. 31, 2023						359,231	359,231	3	3	4,584
Balance at Dec. 31, 2023	26,737.9	22,338.3	4,455.2	(55.6)	26,737.9
Net Income			855.2		855.2
Net Income	855.2
Other comprehensive income (loss), net of tax	(30.5)			(30.5)	(30.5)
Dividends, Cash			(419.3)		(419.3)
Vesting of issued restricted Class A common stock, shares							91
Vesting of issued restricted Class A common stock		(12.4)			(12.4)
Stock-based compensation		23.3			23.3
Balance (in shares) at Mar. 31, 2024						359,322	359,322	3	3	4,584
Balance at Mar. 31, 2024	$ 27,154.2	$ 22,349.2	$ 4,891.1	$ (86.1)	$ 27,154.2

Consolidated Statements Of Sh_2

Consolidated Statements Of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Cash dividends on common stock, per share (in dollars per share)	$ 1.15	$ 1.10

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash Flows from Operating Activities
Net Income	$ 855.2	$ 883.8
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	23.3	20.2
Amortization of purchased intangibles	55.2	56.8
Depreciation and amortization	30.1	31.9
Net realized and unrealized (gains) losses on investments	(2.5)	(74.8)
Deferred income taxes	(7.4)	(8.7)
Change in:
Accounts receivable	(93.4)	(241.2)
Other current assets	464	54.7
Other assets	(0.2)	19.4
Accounts payable	20.5	(24.2)
Income taxes payable	151.4	282.5
Other current liabilities	(605.3)	(106.7)
Other liabilities	(1.8)	(7.2)
Other	3.6	15.9
Net Cash Provided by (Used in) Operating Activities	892.7	902.4
Cash Flows from Investing Activities
Proceeds from maturities of available-for-sale marketable securities	1.7	0.7
Purchases of available-for-sale marketable securities	(1.2)	(0.3)
Purchases of property, net	(19.8)	(15.2)
Investments in privately-held equity investments	(3.5)	(2.4)
Net Cash Used in Investing Activities	(22.8)	(17.2)
Cash Flows from Financing Activities
Cash dividends	(2,328.4)	(2,035.6)
Change in performance bond and guaranty fund contributions	4,281.4	(7,158.5)
Employee taxes paid on restricted stock vesting	(12.3)	(0.3)
Other	(4.3)	(4.1)
Net Cash Provided by (Used in) Financing Activities	1,936.4	(9,198.5)
Net change in cash, cash equivalents and restricted cash	2,806.3	(8,313.3)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, beginning balance	93,109.7	137,974.3
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, ending balance	95,916	129,661
Cash and cash equivalents	1,436.9	1,565.2
Short-term restricted cash	5.2	5.1
Long-term restricted cash	0
Restricted cash and restricted cash equivalents (performance bonds and guaranty fund contributions)	94,473.9	128,090.7
Income taxes paid	114.8	30.9
Interest paid	41.1	41.1
AccruedProceedsfromSaleofInvestment	$ 0	$ 97.9

Basis Of Presentation

Basis Of Presentation	3 Months Ended
Basis Of Presentation	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis Of Presentation	Basis of Presentation The consolidated financial statements consist of CME Group Inc. (CME Group) and its subsidiaries (collectively, the company), including Chicago Mercantile Exchange Inc. (CME), Board of Trade of the City of Chicago, Inc. (CBOT), New York Mercantile Exchange, Inc. (NYMEX), Commodity Exchange, Inc. (COMEX) and NEX Group Limited (NEX). The clearing house is operated by CME. The accompanying interim consolidated financial statements have been prepared by CME Group without audit. Certain notes and other information normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted. In the opinion of management, the accompanying consolidated financial statements include all adjustments (consisting only of normal recurring adjustments) considered necessary to present fairly the financial position of the company at March 31, 2024 and December 31, 2023 and the results of operations and cash flows for the periods indicated. Quarterly results are not necessarily indicative of results for any subsequent period. The accompanying consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto in CME Group’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission (SEC) on February 28, 2024.

Revenue Recognition (Notes)

Revenue Recognition (Notes)	3 Months Ended
Revenue Recognition (Notes)	Mar. 31, 2024
Revenue Recognition [Abstract]
Revenue Recognition, Deferred Revenue [Policy Text Block]	Revenue Recognition The company generates revenue from customers from the following sources: Clearing and transaction fees. Clearing and transaction fees include electronic trading fees and brokerage commissions, surcharges for privately-negotiated transactions, risk mitigation and other volume-related charges for trade contracts. Clearing and transaction fees are assessed upfront at the time of trade execution. As such, the company recognizes the majority of the fee revenue upon successful execution of the trade. The minimal remaining portion of the fee revenue related to settlement activities performed after trade execution is recognized over the short-term period that the contract is outstanding, based on management’s estimates of the average contract lifecycle. These estimates are based on various assumptions to approximate the amount of fee revenue to be attributed to services performed through contract settlement, expiration, or termination. For cleared trades, these assumptions include the average number of days that a contract remains in open interest, contract turnover, average revenue per day, and revenue remaining in open interest at the end of each period. The nature of contracts gives rise to several types of variable consideration, including volume-based pricing tiers, customer incentives associated with market maker programs and other fee discounts. The company includes fee discounts and incentives in the estimated transaction price when there is a basis to reasonably estimate the amount of the fee reduction. These estimates are based on historical experience, anticipated performance, and best judgment at the time. Because of the company’s certainty in estimating these amounts, they are included in the transaction price of contracts. Market data and information services. Market data and information services represent revenue from the dissemination of market data to subscribers, distributors, and other third-party licensees of market data. Pricing for market data is primarily based on the number of reportable devices used as well as the number of subscribers enrolled under the arrangement. Fees for these services are generally billed monthly. Market data services are satisfied over time and revenue is recognized on a monthly basis as the customers receive and consume the benefit of the market data services. However, the company also maintains certain annual license arrangements with one-time upfront fees. The fees for annual licenses are initially recorded as a contract liability and recognized as revenue monthly over the term of the annual period. Other. Other revenues include certain access and communication fees, fees for non-cash collateral management, equity membership subscription fees, and fees for trade order routing through agreements from various strategic relationships. Access and communication fees are charged to customers that utilize various telecommunications networks and communications services. Fees for these services are generally billed monthly and the associated fee revenue is recognized as billed. Collateral management fees are charged to clearing firms that have non-cash collateral on deposit with the clearing house to meet their minimum performance bond and guaranty fund obligations on the exchange. These fees are calculated based on daily non-cash collateral balances and are billed monthly. This fee revenue is recognized monthly as billed as the customers receive and consume the benefits of the services. The company also has an equity membership program which provides equity members the option to substitute a monthly subscription fee for their existing requirement to hold CME Group Class A common stock. Choosing to pay this fee in lieu of holding Class A shares is entirely voluntary and the client’s choice. Fee revenue under this program is earned monthly as billed over the contractual term. Pricing for strategic relationships may be driven by customer levels and activity. There are fee arrangements which provide for monthly as well as quarterly payments in arrears. Revenue is recognized monthly for strategic relationship arrangements as the customers receive and consume the benefits of the services. The following table represents a disaggregation of revenue from contracts with customers by product line for the quarters ended March 31, 2024 and 2023: Quarter Ended (in millions) 2024 2023 Interest rates $ 410.3 $ 444.8 Equity indexes 268.1 269.2 Foreign exchange 47.2 47.5 Agricultural commodities 132.0 115.3 Energy 196.2 167.9 Metals 64.0 60.9 BrokerTec fixed income 37.8 39.2 EBS foreign exchange 31.3 35.8 Interest rate swap 22.0 19.6 Total clearing and transaction fees 1,208.9 1,200.2 Market data and information services 175.4 165.8 Other 103.6 75.6 Total revenues $ 1,487.9 $ 1,441.6 Timing of Revenue Recognition Services transferred at a point in time $ 1,183.9 $ 1,177.5 Services transferred over time 299.5 259.5 One-time charges and miscellaneous revenues 4.5 4.6 Total revenues $ 1,487.9 $ 1,441.6 The timing of revenue recognition, billings and cash collections results in billed accounts receivable, and customer advances and deposits (contract liabilities) on the consolidated balance sheets. Certain fees for transactions, annual licenses, and other revenue arrangements are billed upfront before revenue is recognized, which results in the recognition of contract liabilities. These liabilities are recognized on the consolidated balance sheets on a contract-by-contract basis upon commencement of services under the customer contract. These upfront customer payments are recognized as revenue over time as the obligations under the contracts are satisfied. Changes in the contract liability balances during the first quarter of March 31, 2024 were not materially impacted by any other factors. The balance of contract liabilities was $54.5 million and $13.2 million as of March 31, 2024 and December 31, 2023, respectively.

Performance Bonds and Guaranty

Performance Bonds and Guaranty Fund Contributions (Notes)	3 Months Ended
Performance Bonds and Guaranty Fund Contributions (Notes)	Mar. 31, 2024
Performance Bonds and Guaranty Fund Contributions [Abstract]
Performance Bonds and Guaranty Fund Contributions	Performance Bonds and Guaranty Fund Contributions Performance Bonds and Guaranty Fund Contribution Reinvestment. CME reinvests cash performance bonds and guaranty fund contributions and distributes a portion of the interest earned back to the clearing firms. The reinvestment of cash can include certain commercial and central bank deposits, government securities, reverse repurchase agreements, and money market funds. CME has been designated as a systemically important financial market utility by the Financial Stability Oversight Council and is authorized to maintain cash accounts at the Federal Reserve Bank of Chicago. At March 31, 2024, CME maintained $86.4 billion within the cash account at the Federal Reserve Bank of Chicago. The cash deposit at the Federal Reserve Bank of Chicago is included within performance bonds and guaranty fund contributions on the consolidated balance sheets. Cash performance bonds and guaranty fund contributions are included as restricted cash and cash equivalents on the consolidated statements of cash flows. In the first quarter of 2024 and 2023, earnings from cash performance bond and guaranty fund contributions were $1,036.7 million and $1,256.3 million, respectively. In the first quarter of 2024 and 2023, expense related to the distribution of interest earned on collateral reinvestments were $967.4 million and $1,163.5 million, respectively. The earnings from cash performance bonds and guaranty fund contributions are included in investment income and the expense related to the distribution of interest earned is included in other non-operating income (expense) on the consolidated statements of income. Clearing House Contract Settlement. The clearing house marks-to-market open positions at least onc e a day (twice a day for all futures and options contracts). Based on values derived from the mark-to-market process, the clearing house requires payments from clearing firms whose positions have lost value and makes payments to clearing firms whose positions have gained value. Under the extremely unlikely scenario of simultaneous default by every clearing firm who has open positions with unrealized losses, the maximum exposure related to positions other than cleared-only interest rate swap contracts would be one half day of changes in fair value of all open positions, before considering the clearing house’s ability to access defaulting clearing firms' collateral deposits. For cleared interest rate swap contracts, the maximum exposure at the time of default related to the clearing house’s guarantee would be one full day of changes in fair value of all open positions, before considering the clearing house’s ability to access defaulting clearing firms' collateral.

Intangible Assets And Goodwill

Intangible Assets And Goodwill	3 Months Ended
Intangible Assets And Goodwill	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets And Goodwill	Intangible Assets and Goodwill Intangible assets consisted of the following at March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 (in millions) Assigned Value Accumulated Net Book Assigned Value Accumulated Net Book Amortizable Intangible Assets: Clearing firm, market data and other customer relationships $ 4,687.2 $ (2,175.7) $ 2,511.5 $ 4,694.4 $ (2,124.9) $ 2,569.5 Technology-related intellectual property 62.5 (62.2) 0.3 62.5 (62.2) 0.3 Other 71.2 (43.0) 28.2 71.6 (41.2) 30.4 Total amortizable intangible assets $ 4,820.9 $ (2,280.9) $ 2,540.0 $ 4,828.5 $ (2,228.3) $ 2,600.2 Indefinite-Lived Intangible Assets: Trade names 450.0 450.0 Total intangible assets – other, net $ 2,990.0 $ 3,050.2 Trading products (1) $ 17,175.3 $ 17,175.3 (1) Trading products represent futures and options products acquired in our business combinations with CBOT Holdings, Inc., NYMEX Holdings, Inc. and The Board of Trade of Kansas City, Missouri, Inc. Clearing and transaction fees are generated through the trading of these products. These trading products, most of which have traded for decades, require authorization from the Commodity Futures Trading Commission (CFTC). Product authorizations from the CFTC have no term limits. Total amortization expense for intangible assets was $55.2 million and $56.8 million for the quarters ended March 31, 2024 and 2023, respectively. As of March 31, 2024, the future estimated amortization expense related to amortizable intangible assets is expected to be as follows: (in millions) Amortization Expense Remainder of 2024 $ 166.3 2025 221.7 2026 221.7 2027 220.4 2028 214.0 2029 214.0 Thereafter 1,281.9 Goodwill activity consisted of the following for the periods ended March 31, 2024 and December 31, 2023 : (in millions) Goodwill Balance at December 31, 2022 $ 10,482.5 Foreign currency translation 12.8 Balance at December 31, 2023 10,495.3 Foreign currency translation (5.7) Balance at March 31, 2024 $ 10,489.6

Debt

Debt	3 Months Ended
Debt	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt Short-term debt consisted of the following at March 31, 2024 and December 31, 2023: (in millions) March 31, 2024 December 31, 2023 $750.0 million fixed rate notes due March 2025, stated rate of 3.00% (1) $ 749.3 $ — Total short-term debt $ 749.3 $ — (1) The company maintained a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 3.11% Long-term debt consisted of the following at March 31, 2024 and December 31, 2023: (in millions) March 31, 2024 December 31, 2023 $750.0 million fixed rate notes due March 2025, stated rate of 3.00% (1) — 749.1 $500.0 million fixed rate notes due June 2028, stated rate of 3.75% 498.2 498.1 $750.0 million fixed rate notes due March 2032, stated rate of 2.65% 743.1 742.9 $750.0 million fixed rate notes due September 2043, stated rate of 5.30% (2) 744.0 744.0 $700.0 million fixed rate notes due June 2048, stated rate of 4.15% 691.4 691.3 Total long-term debt $ 2,676.7 $ 3,425.4 (1) The company maintained a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 3.11%. (2) The company maintained a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 4.73%. Short and long-term debt maturities, at par value, were as follows at March 31, 2024: (in millions) Par Value 2025 $ 750.0 2026 — 2027 — 2028 500.0 2029 — Thereafter 2,200.0

Contingencies

Contingencies	3 Months Ended
Contingencies	Mar. 31, 2024
Loss Contingency [Abstract]
Contingencies	Contingencies Legal and Regulatory Matters. In the normal course of business, the company discusses matters with its regulators raised during regulatory examinations or otherwise subject to their inquiry and oversight. These matters could result in censures, fines, penalties or other sanctions. Management believes the outcome of any resulting actions will not have a material impact on the company's consolidated financial position or results of operations. However, the company is unable to predict the outcome or the timing of the ultimate resolution of these matters, or the potential fines, penalties or injunctive or other equitable relief, if any, that may result from these matters. A putative class action complaint was filed January 15, 2014 in the Circuit Court of Cook County, Chancery Division, against CME Group Inc. and the Board of Trade of the City of Chicago, Inc. The plaintiffs, certain Class B shareholders of CME Group and Class B members of CBOT, allege breach of contract and breach of the implied covenant of good faith and fair dealing for violations of their core rights granted in the defendants’ respective Certificates of Incorporation. On December 2, 2021, the court granted the plaintiffs’ motion for certification of a damages-only class. No trial date has been set. Given the uncertainty of factors that may potentially affect the resolution of the matter, at this time the company is unable to estimate the reasonably possible loss or range of reasonably possible losses in the unlikely event it were found to be liable at trial. Based on its investigation to date, the company believes that it has strong factual and legal defenses to the claims. In addition, the company is a defendant in, and has potential for, various other legal proceedings arising from its regular business activities. While the ultimate results of such proceedings against the company cannot be predicted with certainty, the company believes that the resolution of any of these matters on an individual or aggregate basis will not have a material impact on its consolidated financial position or results of operations. No accrual was required for contingent legal and regulatory matters as none were probable and estimable as of March 31, 2024 and December 31, 2023.

Leases (Notes)

Leases (Notes)	3 Months Ended
Leases (Notes)	Mar. 31, 2024
Leases [Abstract]
Lessee, Leases [Policy Text Block]	Leases The company has operating leases for corporate offices. The operating leases have remaining lease terms of up to 14 years, some of which include options to extend or renew the leases for up to an additional five years, and some of which include options to early terminate the leases in less than 12 months. Management evaluates whether these options are exercisable at least quarterly in order to determine whether the contract term must be reassessed. For a small number of the leases, primarily the international locations, management’s approach is to enter into short-term leases for a lease term of 12 months or less in order to provide for greater flexibility in the local environment. For certain office spaces, the company has entered into arrangements to sublease excess space to third parties, while the original lease contract remains in effect with the landlord. The company also has one finance lease, which is related to the sale of our data center in March 2016. In connection with the sale, the company leased back a portion of the property. The transaction was recognized under the financing method and not as a sale leaseback arrangement. The right-of-use lease asset is recorded within other assets, and the present value of the lease liability is recorded within other liabilities (segregated between short term and long term) on the consolidated balance sheets. The discount rate applied to the lease payments represents the company’s incremental borrowing rate. The components of lease costs were as follows: Quarter Ended (in millions) 2024 2023 Operating lease expense: Operating lease cost $ 13.0 $ 14.0 Short-term lease cost 0.1 0.1 Total operating lease expense included in other expense $ 13.1 $ 14.1 Finance lease expense: Interest expense $ 0.6 $ 0.7 Depreciation expense 2.2 2.2 Total finance lease expense $ 2.8 $ 2.9 Sublease revenue included in other revenue $ 2.3 $ 2.4 Supplemental cash flow information related to leases was as follows: Quarter Ended (in millions) 2024 2023 Cash outflows for operating leases $ 15.2 $ 17.0 Cash outflows for finance leases 4.3 4.3 Supplemental balance sheet information related to leases was as follows: Operating leases (in millions) March 31, 2024 December 31, 2023 Operating lease right-of-use assets $ 264.5 $ 272.0 Operating lease liabilities: Other current liabilities $ 47.5 $ 46.7 Other liabilities 333.1 344.0 Total operating lease liabilities $ 380.6 $ 390.7 Weighted average remaining lease term (in months) 111 114 Weighted average discount rate 3.8 % 3.8 % Finance leases (in millions) March 31, 2024 December 31, 2023 Finance lease right-of-use assets $ 60.7 $ 62.8 Finance lease liabilities: Other current liabilities $ 8.5 $ 8.4 Other liabilities 57.2 59.4 Total finance lease liabilities $ 65.7 $ 67.8 Weighted average remaining lease term (in months) 84 87 Weighted average discount rate 3.5 % 3.5 % Future minimum lease payments were as follows as of March 31, 2024 for operating and finance leases: (in millions) Operating Leases Remainder of 2024 $ 45.8 2025 58.2 2026 53.7 2027 50.7 2028 49.5 2029 35.5 Thereafter 156.2 Total lease payments 449.6 Less: imputed interest (69.0) Present value of lease liability $ 380.6 (in millions) Finance Leases Remainder of 2024 $ 13.0 2025 17.5 2026 17.6 2027 17.8 2028 17.9 2029 18.1 Thereafter 22.9 Total lease payments 124.8 Less: imputed interest (59.1) Present value of lease liability $ 65.7

Guarantees

Guarantees	3 Months Ended
Guarantees	Mar. 31, 2024
Guarantees [Abstract]
Guarantees	Guarantees Mutual Offset Agreement. CME and Singapore Exchange Limited (SGX) maintain a mutual offset agreement with a current term through April 2025. This agreement enables market participants to open a futures position on one exchange and liquidate it on the other. The term of the agreement will automatically renew for a two-year period after April 2025 unless either party provides advance notice of their intent to terminate. CME can maintain collateral in the form of irrevocable, standby letters of credit. At March 31, 2024, CME was contingently liable to SGX on letters of credit totaling $285.0 million . CME also maintains a $350.0 million line of credit to meet its obligations under this agreement. Regardless of the collateral, CME guarantees all cleared transactions submitted through SGX and would initiate procedures designed to satisfy these financial obligations in the event of a default, such as the use of performance bonds and guaranty fund contributions of the defaulting clearing firm. Management has assessed the fair value of the company’s guarantee liability under this mutual offset agreement by taking the following factors into consideration: the design and operations of the clearing risk management process, the financial safeguard packages in place, historical evidence of default by a clearing member and the estimated probability of potential payouts by the clearing house. Based on the assessment performed, management estimates the guarantee liability to be nominal and therefore has not recorded any liability at March 31, 2024 and December 31, 2023. Family Farmer and Rancher Protection Fund. In 2012, the company established the Family Farmer and Rancher Protection Fund (the Fund). The Fund is designed to provide payments, up to certain maximum levels, to family farmers, ranchers and other agricultural industry participants who use the company’s agricultural commodity products and who suffer losses to their segregated account balances due to their CME clearing member becoming insolvent. Under the terms of the Fund, farmers and ranchers are eligible for up to $25,000 per participant. Farming and ranching cooperatives are eligible for up to $100,000 per cooperative. The Fund was established with a maximum of $100.0 million available for distribution to participants. Since its establishment, the Fund has made payments of approximately $2.0 million, which leaves $98.0 million available for future claims. If, at any time, payments due to participants were to exceed the amount remaining in the Fund, payments would be pro-rated. Clearing members and customers must register with the company in advance and provide certain documentation in order to substantiate their eligibility. The company believes that its guarantee liability is nominal and therefore has not recorded any liability at March 31, 2024 and December 31, 2023.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Notes)	3 Months Ended
Accumulated Other Comprehensive Income (Notes)	Mar. 31, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The following tables present changes in the accumulated balances for each component of other comprehensive income (loss), including current period other comprehensive income (loss) and reclassifications out of accumulated other comprehensive income (loss): (in millions) Investment Securities Defined Benefit Plans Derivative Investments Foreign Currency Translation Total Balance at December 31, 2023 $ (0.4) $ (23.4) $ 62.0 $ (93.8) $ (55.6) Other comprehensive income (loss) before reclassifications and income tax benefit (expense) — (5.9) — (25.4) (31.3) Amounts reclassified from accumulated other comprehensive income (loss) — — (0.9) — (0.9) Income tax benefit (expense) — 1.5 0.2 — 1.7 Net current period other comprehensive income (loss) — (4.4) (0.7) (25.4) (30.5) Balance at March 31, 2024 $ (0.4) $ (27.8) $ 61.3 $ (119.2) $ (86.1) (in millions) Investment Securities Defined Benefit Plans Derivative Investments Foreign Currency Translation Total Balance at December 31, 2022 $ (0.9) $ (22.8) $ 64.7 $ (174.3) $ (133.3) Other comprehensive income (loss) before reclassifications and income tax benefit (expense) 0.4 (3.5) — 5.9 2.8 Amounts reclassified from accumulated other comprehensive income (loss) — — (1.2) — (1.2) Income tax benefit (expense) (0.1) 0.9 0.3 — 1.1 Net current period other comprehensive income (loss) 0.3 (2.6) (0.9) 5.9 2.7 Balance at March 31, 2023 $ (0.6) $ (25.4) $ 63.8 $ (168.4) $ (130.6)

Fair Value Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Mar. 31, 2024
Fair Value by Fair Value Hierarchy Level, Extensible Enumeration [Abstract]
Fair Value Measurements	Fair Value Measurements The company uses a three-level classification hierarchy of fair value measurements for disclosure purposes: • Level 1 inputs, which are considered the most reliable evidence of fair value, consist of quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 inputs consist of observable market data, such as quoted prices for similar assets and liabilities in active markets, or inputs other than quoted prices that are directly observable. • Level 3 inputs consist of unobservable inputs which are derived and cannot be corroborated by market data or other entity-specific inputs. The company’s level 1 assets generally include investments in publicly traded mutual funds, equity securities and corporate debt securities with quoted market prices. In general, the company uses quoted prices in active markets for identical assets to determine the fair value of marketable securities. The company’s level 2 assets and liabilities generally consist of long-term debt notes. The fair values of the long-term debt notes were based on quoted market prices in an inactive market. The company’s level 3 assets and liabilities include certain investments that were adjusted to fair value. Recurring Fair Value Measurements. Financial assets and liabilities recorded at fair value on the consolidated balance sheet as of March 31, 2024 were classified in their entirety based on the lowest level of input that was significant to each asset and liability’s fair value measurement. The following table presents financial instruments measured at fair value on a recurring basis: March 31, 2024 (in millions) Level 1 Level 2 Level 3 Total Assets at Fair Value: Marketable securities: Corporate debt securities $ 10.0 $ — $ — $ 10.0 Mutual funds 110.8 — — 110.8 Equity securities 0.2 — — 0.2 Total Marketable Securities 121.0 — — 121.0 Total Assets at Fair Value $ 121.0 $ — $ — $ 121.0 Non-Recurring Fair Value Measurements. The company recognized an unrealized gain on investments of $1.5 million on an equity investment without readily determinable fair value. The fair value of this investment was estimated to be $10.1 million at March 31, 2024. This fair value assessment was based on quantitative factors, including observable price changes. The fair value measurement of this investment is considered level 3 and non-recurring. Fair Values of Long-Term Debt Notes. The follo wing presents the estimated fair values of long-term debt notes, which are carried at amortized cost on the consolidated balance sheets. The fair values below are classified as level 2 under the fair value hierarchy and were estimated using quoted market prices in inactive markets. At March 31, 2024, the fair values were as follows: (in millions) Fair Value Level $750.0 million fixed rate notes due March 2025 734.9 Level 2 $500.0 million fixed rate notes due June 2028 485.8 Level 2 $750.0 million fixed rate notes due March 2032 650.3 Level 2 $750.0 million fixed rate notes due September 2043 758.6 Level 2 $700.0 million fixed rate notes due June 2048 615.3 Level 2

Earnings Per Share

Earnings Per Share	3 Months Ended
Earnings Per Share	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The company uses the two-class method to calculate basic and diluted earnings per common share because its Series G preferred stock are participating securities. Under the two-class method, undistributed earnings are allocated to common stock and participating securities according to their respective rights in undistributed earnings, as if all of the earnings for the period had been distributed. Basic earnings per common share is computed by dividing the net income attributable to common shareholders by the weighted average number of common shares outstanding during the period. Net income attributable to common shareholders is reduced for preferred stock dividends earned during the period. Preferred stock also receives a proportionate allocation of undistributed or overdistributed earnings for the period because Series G preferred stock has a contractual obligation to share in profits and losses of the company. Diluted earnings per share is computed by dividing the net income attributable to common shareholders by the weighted average number of common shares outstanding plus potentially dilutive common shares. Anti-dilutive stock awards were as follows for the periods presented: Quarter Ended (in thousands) 2024 2023 Stock awards 46 160 Total 46 160 The following table presents the earnings per share calculation for the periods presented: Quarter Ended 2024 2023 Net Income (in millions) $ 855.2 $ 883.8 Less: preferred stock dividends (5.3) (5.0) Less: undistributed earnings allocated to preferred stock (5.5) (6.1) Net Income Attributable to Common Shareholders of CME Group $ 844.4 $ 872.7 Weighted Average Number of Common Shares (in thousands) : Basic 359,258 358,933 Effect of stock options, restricted stock and performance shares 575 380 Diluted 359,833 359,313 Earnings per Common Share Attributable to Common Shareholders of CME Group: Basic $ 2.35 $ 2.43 Diluted 2.35 2.43

Subsequent Events (Notes)

Subsequent Events (Notes)	3 Months Ended
Subsequent Events (Notes)	Mar. 31, 2024
Subsequent Event [Line Items]
Subsequent Events [Text Block]	Subsequent EventsThe company has evaluated subsequent events through the date the financial statements were issued. The company has determined that there were no subsequent events that met the requirement for recognition or disclosure in the consolidated financial statements.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
Revenue Recognition (Tables)	Mar. 31, 2024
Revenue Recognition [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table represents a disaggregation of revenue from contracts with customers by product line for the quarters ended March 31, 2024 and 2023: Quarter Ended (in millions) 2024 2023 Interest rates $ 410.3 $ 444.8 Equity indexes 268.1 269.2 Foreign exchange 47.2 47.5 Agricultural commodities 132.0 115.3 Energy 196.2 167.9 Metals 64.0 60.9 BrokerTec fixed income 37.8 39.2 EBS foreign exchange 31.3 35.8 Interest rate swap 22.0 19.6 Total clearing and transaction fees 1,208.9 1,200.2 Market data and information services 175.4 165.8 Other 103.6 75.6 Total revenues $ 1,487.9 $ 1,441.6 Timing of Revenue Recognition Services transferred at a point in time $ 1,183.9 $ 1,177.5 Services transferred over time 299.5 259.5 One-time charges and miscellaneous revenues 4.5 4.6 Total revenues $ 1,487.9 $ 1,441.6

Intangible Assets And Goodwill

Intangible Assets And Goodwill (Tables)	3 Months Ended
Intangible Assets And Goodwill (Tables)	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Components of intangible assets	Intangible assets consisted of the following at March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 (in millions) Assigned Value Accumulated Net Book Assigned Value Accumulated Net Book Amortizable Intangible Assets: Clearing firm, market data and other customer relationships $ 4,687.2 $ (2,175.7) $ 2,511.5 $ 4,694.4 $ (2,124.9) $ 2,569.5 Technology-related intellectual property 62.5 (62.2) 0.3 62.5 (62.2) 0.3 Other 71.2 (43.0) 28.2 71.6 (41.2) 30.4 Total amortizable intangible assets $ 4,820.9 $ (2,280.9) $ 2,540.0 $ 4,828.5 $ (2,228.3) $ 2,600.2 Indefinite-Lived Intangible Assets: Trade names 450.0 450.0 Total intangible assets – other, net $ 2,990.0 $ 3,050.2 Trading products (1) $ 17,175.3 $ 17,175.3 (1) Trading products represent futures and options products acquired in our business combinations with CBOT Holdings, Inc., NYMEX Holdings, Inc. and The Board of Trade of Kansas City, Missouri, Inc. Clearing and transaction fees are generated through the trading of these products. These trading products, most of which have traded for decades, require authorization from the Commodity Futures Trading Commission (CFTC). Product authorizations from the CFTC have no term limits.
Future estimated amortization expense	As of March 31, 2024, the future estimated amortization expense related to amortizable intangible assets is expected to be as follows: (in millions) Amortization Expense Remainder of 2024 $ 166.3 2025 221.7 2026 221.7 2027 220.4 2028 214.0 2029 214.0 Thereafter 1,281.9
Schedule of Goodwill	Goodwill activity consisted of the following for the periods ended March 31, 2024 and December 31, 2023 : (in millions) Goodwill Balance at December 31, 2022 $ 10,482.5 Foreign currency translation 12.8 Balance at December 31, 2023 10,495.3 Foreign currency translation (5.7) Balance at March 31, 2024 $ 10,489.6

Debt (Tables)

Debt (Tables)	3 Months Ended
Debt (Tables)	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments [Table Text Block]	Long-term debt consisted of the following at March 31, 2024 and December 31, 2023: (in millions) March 31, 2024 December 31, 2023 $750.0 million fixed rate notes due March 2025, stated rate of 3.00% (1) — 749.1 $500.0 million fixed rate notes due June 2028, stated rate of 3.75% 498.2 498.1 $750.0 million fixed rate notes due March 2032, stated rate of 2.65% 743.1 742.9 $750.0 million fixed rate notes due September 2043, stated rate of 5.30% (2) 744.0 744.0 $700.0 million fixed rate notes due June 2048, stated rate of 4.15% 691.4 691.3 Total long-term debt $ 2,676.7 $ 3,425.4 (1) The company maintained a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 3.11%. (2)
Schedule of Short-term Debt	Short-term debt consisted of the following at March 31, 2024 and December 31, 2023: (in millions) March 31, 2024 December 31, 2023 $750.0 million fixed rate notes due March 2025, stated rate of 3.00% (1) $ 749.3 $ — Total short-term debt $ 749.3 $ — (1) The company maintained a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 3.11%
Schedule of Maturities of Long-term Debt [Table Text Block]	ong-term debt maturities, at par value, were as follows at March 31, 2024: (in millions) Par Value 2025 $ 750.0 2026 — 2027 — 2028 500.0 2029 — Thereafter 2,200.0

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Mar. 31, 2024
Leases [Abstract]
Lease, Cost [Table Text Block]	The components of lease costs were as follows: Quarter Ended (in millions) 2024 2023 Operating lease expense: Operating lease cost $ 13.0 $ 14.0 Short-term lease cost 0.1 0.1 Total operating lease expense included in other expense $ 13.1 $ 14.1 Finance lease expense: Interest expense $ 0.6 $ 0.7 Depreciation expense 2.2 2.2 Total finance lease expense $ 2.8 $ 2.9 Sublease revenue included in other revenue $ 2.3 $ 2.4
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Supplemental cash flow information related to leases was as follows: Quarter Ended (in millions) 2024 2023 Cash outflows for operating leases $ 15.2 $ 17.0 Cash outflows for finance leases 4.3 4.3
Schedule of Amounts Recognized in Balance Sheet [Table Text Block]	Supplemental balance sheet information related to leases was as follows: Operating leases (in millions) March 31, 2024 December 31, 2023 Operating lease right-of-use assets $ 264.5 $ 272.0 Operating lease liabilities: Other current liabilities $ 47.5 $ 46.7 Other liabilities 333.1 344.0 Total operating lease liabilities $ 380.6 $ 390.7 Weighted average remaining lease term (in months) 111 114 Weighted average discount rate 3.8 % 3.8 % Finance leases (in millions) March 31, 2024 December 31, 2023 Finance lease right-of-use assets $ 60.7 $ 62.8 Finance lease liabilities: Other current liabilities $ 8.5 $ 8.4 Other liabilities 57.2 59.4 Total finance lease liabilities $ 65.7 $ 67.8 Weighted average remaining lease term (in months) 84 87 Weighted average discount rate 3.5 % 3.5 %
Finance Lease, Liability, Fiscal Year Maturity	(in millions) Finance Leases Remainder of 2024 $ 13.0 2025 17.5 2026 17.6 2027 17.8 2028 17.9 2029 18.1 Thereafter 22.9 Total lease payments 124.8 Less: imputed interest (59.1) Present value of lease liability $ 65.7
Lessee, Operating Lease, Liability, Maturity	Future minimum lease payments were as follows as of March 31, 2024 for operating and finance leases: (in millions) Operating Leases Remainder of 2024 $ 45.8 2025 58.2 2026 53.7 2027 50.7 2028 49.5 2029 35.5 Thereafter 156.2 Total lease payments 449.6 Less: imputed interest (69.0) Present value of lease liability $ 380.6

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
Accumulated Other Comprehensive Income (Tables)	Mar. 31, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following tables present changes in the accumulated balances for each component of other comprehensive income (loss), including current period other comprehensive income (loss) and reclassifications out of accumulated other comprehensive income (loss): (in millions) Investment Securities Defined Benefit Plans Derivative Investments Foreign Currency Translation Total Balance at December 31, 2023 $ (0.4) $ (23.4) $ 62.0 $ (93.8) $ (55.6) Other comprehensive income (loss) before reclassifications and income tax benefit (expense) — (5.9) — (25.4) (31.3) Amounts reclassified from accumulated other comprehensive income (loss) — — (0.9) — (0.9) Income tax benefit (expense) — 1.5 0.2 — 1.7 Net current period other comprehensive income (loss) — (4.4) (0.7) (25.4) (30.5) Balance at March 31, 2024 $ (0.4) $ (27.8) $ 61.3 $ (119.2) $ (86.1) (in millions) Investment Securities Defined Benefit Plans Derivative Investments Foreign Currency Translation Total Balance at December 31, 2022 $ (0.9) $ (22.8) $ 64.7 $ (174.3) $ (133.3) Other comprehensive income (loss) before reclassifications and income tax benefit (expense) 0.4 (3.5) — 5.9 2.8 Amounts reclassified from accumulated other comprehensive income (loss) — — (1.2) — (1.2) Income tax benefit (expense) (0.1) 0.9 0.3 — 1.1 Net current period other comprehensive income (loss) 0.3 (2.6) (0.9) 5.9 2.7 Balance at March 31, 2023 $ (0.6) $ (25.4) $ 63.8 $ (168.4) $ (130.6)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Mar. 31, 2024
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Financial instruments measured at fair value on a recurring basis	The following table presents financial instruments measured at fair value on a recurring basis: March 31, 2024 (in millions) Level 1 Level 2 Level 3 Total Assets at Fair Value: Marketable securities: Corporate debt securities $ 10.0 $ — $ — $ 10.0 Mutual funds 110.8 — — 110.8 Equity securities 0.2 — — 0.2 Total Marketable Securities 121.0 — — 121.0 Total Assets at Fair Value $ 121.0 $ — $ — $ 121.0
Fair value of Debt Instruments	At March 31, 2024, the fair values were as follows: (in millions) Fair Value Level $750.0 million fixed rate notes due March 2025 734.9 Level 2 $500.0 million fixed rate notes due June 2028 485.8 Level 2 $750.0 million fixed rate notes due March 2032 650.3 Level 2 $750.0 million fixed rate notes due September 2043 758.6 Level 2 $700.0 million fixed rate notes due June 2048 615.3 Level 2

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
Earnings Per Share (Tables)	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Anti-dilutive stock awards were as follows for the periods presented: Quarter Ended (in thousands) 2024 2023 Stock awards 46 160 Total 46 160
Basic And Diluted Earnings Per Share	The following table presents the earnings per share calculation for the periods presented: Quarter Ended 2024 2023 Net Income (in millions) $ 855.2 $ 883.8 Less: preferred stock dividends (5.3) (5.0) Less: undistributed earnings allocated to preferred stock (5.5) (6.1) Net Income Attributable to Common Shareholders of CME Group $ 844.4 $ 872.7 Weighted Average Number of Common Shares (in thousands) : Basic 359,258 358,933 Effect of stock options, restricted stock and performance shares 575 380 Diluted 359,833 359,313 Earnings per Common Share Attributable to Common Shareholders of CME Group: Basic $ 2.35 $ 2.43 Diluted 2.35 2.43

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Revenue Recognition [Abstract]
Deferred Revenue	$ 54.5	$ 13.2

Revenue Recognition Disaggregat

Revenue Recognition Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Total Revenues	$ 1,487.9	$ 1,441.6
Services transferred at a point in time [Member]
Revenues	1,183.9	1,177.5
Services transferred over time [Member]
Revenues	299.5	259.5
One-time charges and miscellaneous revenues [Member]
Revenues	4.5	4.6
Clearing and transaction fees [Member]
Revenues	1,208.9	1,200.2
Total Revenues	1,208.9	1,200.2
Clearing and transaction fees [Member] \| Interest rate [Member]
Revenues	410.3	444.8
Clearing and transaction fees [Member] \| Equities [Member]
Revenues	268.1	269.2
Clearing and transaction fees [Member] \| Foreign Exchange [Member]
Revenues	47.2	47.5
Clearing and transaction fees [Member] \| Agricultural commodity [Member]
Revenues	132	115.3
Clearing and transaction fees [Member] \| Energy [Member]
Revenues	196.2	167.9
Clearing and transaction fees [Member] \| Metal [Member]
Revenues	64	60.9
Clearing and transaction fees [Member] \| Interest Rate Swap [Member]
Revenues	22	19.6
Clearing and transaction fees [Member] \| BrokerTec Fixed Income
Revenues	37.8	39.2
Clearing and transaction fees [Member] \| EBS Foreign Exchange
Revenues	31.3	35.8
Market data and information services
Revenues	175.4	165.8
Total Revenues	175.4	165.8
Other
Revenues	103.6	75.6
Total Revenues	$ 103.6	$ 75.6

Performance Bonds and Guarant_2

Performance Bonds and Guaranty Fund Contributions (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Guarantor Obligations [Line Items]
Average Daily Clearing Settlement	$ 5,200
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	95,916	$ 129,661	$ 93,109.7	$ 137,974.3
Margin Deposits And Guaranty Funds Liabilities Current	94,473.9		$ 90,192.5
Other non-operating income (expense)	(964.8)	(1,152.8)
Investment income	1,071.3	1,357.7
Total Revenues	1,487.9	1,441.6
Interest from Performance Bonds [Member]
Guarantor Obligations [Line Items]
Total Revenues	1,036.7	1,256.3
Expense related to Performance Bonds
Guarantor Obligations [Line Items]
Other non-operating income (expense)	967.4	$ 1,163.5
Federal Reserve Bank Advances
Guarantor Obligations [Line Items]
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 86,400

Intangible Assets And Goodwil_2

Intangible Assets And Goodwill (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of purchased intangibles	$ 55.2	$ 56.8

Intangible Assets And Goodwil_3

Intangible Assets And Goodwill (Components Of Intangible Assets) (Details) - USD ($) $ in Millions		Mar. 31, 2024	Dec. 31, 2023
Intangible Assets [Line Items]
Intangible assets—other, net		$ 2,990	$ 3,050.2
Intangible assets—other, net		2,990	3,050.2
Intangible assets—trading products	[1]	17,175.3	17,175.3
Trade Names [Member]
Intangible Assets [Line Items]
Total intangible assets - other, net		450	450
Clearing Firm, Market Data And Other Customer Relationships [Member]
Intangible Assets [Line Items]
Assigned Value		4,687.2	4,694.4
Accumulated amortization		(2,175.7)	(2,124.9)
Intangible assets—other, net		2,511.5	2,569.5
Technology-Related Intellectual Property [Member]
Intangible Assets [Line Items]
Assigned Value		62.5	62.5
Accumulated amortization		(62.2)	(62.2)
Intangible assets—other, net		0.3	0.3
Other [Member]
Intangible Assets [Line Items]
Assigned Value		71.2	71.6
Accumulated amortization		(43)	(41.2)
Intangible assets—other, net		28.2	30.4
Total Amortizable Intangible Assets [Member]
Intangible Assets [Line Items]
Assigned Value		4,820.9	4,828.5
Accumulated amortization		(2,280.9)	(2,228.3)
Intangible assets—other, net		$ 2,540	$ 2,600.2

[1] Trading products represent futures and options products acquired in our business combinations with CBOT Holdings, Inc., NYMEX Holdings, Inc. and The Board of Trade of Kansas City, Missouri, Inc. Clearing and transaction fees are generated through the trading of these products. These trading products, most of which have traded for decades, require authorization from the Commodity Futures Trading Commission (CFTC). Product authorizations from the CFTC have no term limits.

Intangible Assets And Goodwil_4

Intangible Assets And Goodwill (Future Estimated Amortization Expense) (Details) $ in Millions	Mar. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2024	$ 166.3
2025	221.7
2026	221.7
2027	220.4
2028	214
2029	214
Thereafter	$ 1,281.9

Intangible Assets And Goodwil_5

Intangible Assets And Goodwill (Components of Goodwill) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Line Items]
Goodwill	$ 10,489.6	$ 10,495.3	$ 10,482.5
Goodwill, Foreign Currency Translation Gain (Loss)	$ (5.7)	$ 12.8

Debt (Schedule Of Short-Term An

Debt (Schedule Of Short-Term And Long-Term Debt) (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended
	Mar. 31, 2015	Sep. 30, 2013	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt			$ 2,676.7	$ 3,425.4
Forward starting interest rate swap agreement fixed rate	3.11%	4.73%
Short-term Debt			749.3	0
$750.0 Million Fixed Rate Notes Due March 2025, stated rate of 3.00% [Member]
Debt Instrument [Line Items]
Long-term debt			0	749.1
Debt Instrument, Face Amount			$ 750
Debt Instrument, Maturity Date			Mar. 15, 2025
Debt Instrument, Interest Rate, Stated Percentage			3%
$500.0 Million Fixed Rate Notes Due June 2028, stated rate of 3.75% [Member] [Domain]
Debt Instrument [Line Items]
Long-term debt			$ 498.2	498.1
Debt Instrument, Face Amount			$ 500
Debt Instrument, Maturity Date			Jun. 15, 2028
Debt Instrument, Interest Rate, Stated Percentage			3.75%
$750.0 million Fixed Rate Notes Due September 2043, stated rate of 5.30% [Member]
Debt Instrument [Line Items]
Long-term debt			$ 744	744
Debt Instrument, Face Amount			$ 750
Debt Instrument, Maturity Date			Sep. 15, 2043
Debt Instrument, Interest Rate, Stated Percentage			5.30%
$700.0 Million Fixed Rate Notes Due June 2048, stated rate of 4.15% [Member] [Domain] [Domain]
Debt Instrument [Line Items]
Long-term debt			$ 691.4	691.3
Debt Instrument, Face Amount			$ 700
Debt Instrument, Maturity Date			Jun. 15, 2048
Debt Instrument, Interest Rate, Stated Percentage			4.15%
$750.0 Million Fixed Rate Notes Due March 2032, Interest Equal To 2.65%
Debt Instrument [Line Items]
Long-term debt			$ 743.1	$ 742.9
Debt Instrument, Face Amount			$ 750
Debt Instrument, Maturity Date			Mar. 15, 2032
Debt Instrument, Interest Rate, Stated Percentage			2.65%

Debt (Schedule Of Maturities Of

Debt (Schedule Of Maturities Of Long-Term Debt) (Details) $ in Millions	Mar. 31, 2024 USD ($)
Debt Disclosure [Abstract]
2025	$ 750
2026	0
2027	0
2028	500
2029	0
Thereafter	$ 2,200

Debt Narrative (details) (Detai

Debt Narrative (details) (Details)	1 Months Ended
Debt Narrative (details) (Details)	Mar. 31, 2015	Sep. 30, 2013
Debt Instrument [Line Items]
Forward starting interest rate swap agreement fixed rate	3.11%	4.73%

Leases (Details)

Leases (Details)	Mar. 31, 2024
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	14
Lessee, Operating Lease, Renewal Term	5
Lessee, Operating Lease, Option to Terminate	12
Lessee, Operating Lease, Term of Contract	12

Leases Lease Costs (Details)

Leases Lease Costs (Details) - USD ($) $ in Millions	3 Months Ended
Leases Lease Costs (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Operating Lease, Cost	$ 13	$ 14
Short-term Lease, Cost	0.1	0.1
Operating Lease, Expense	13.1	14.1
Finance Lease, Interest Expense	0.6	0.7
Finance Lease, Right-of-Use Asset, Amortization	2.2	2.2
Finance Lease, Expense	2.8	2.9
Sublease Income	$ 2.3	$ 2.4

Leases Supplemental Cash Flow I

Leases Supplemental Cash Flow Information-Leases (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Operating Lease, Payments	$ 15.2	$ 17
Finance Lease, Principal Payments	$ 4.3	$ 4.3

Leases Supplemental Balance She

Leases Supplemental Balance Sheet Information-Leases (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating Lease, Right-of-Use Asset	$ 264.5	$ 272
Operating Lease, Liability, Current	47.5	46.7
Operating Lease, Liability, Noncurrent	333.1	344
Operating Lease, Liability	$ 380.6	$ 390.7
Operating Lease, Weighted Average Remaining Lease Term	111 months	114 months
Operating Lease, Weighted Average Discount Rate, Percent	3.80%	3.80%
Finance Lease, Right-of-Use Asset	$ 60.7	$ 62.8
Finance Lease, Liability, Current	8.5	8.4
Finance Lease, Liability, Noncurrent	57.2	59.4
Finance Lease, Liability	$ 65.7	$ 67.8
Finance Lease, Weighted Average Remaining Lease Term	84 months	87 months
Finance Lease, Weighted Average Discount Rate, Percent	3.50%	3.50%

Leases Operating Leases Future

Leases Operating Leases Future Minimum Payments (Details) $ in Millions	Mar. 31, 2024 USD ($)
Operating Leases, Future Minimum Payments Due [Line Items]
Remainder of 2024	$ 45.8
2025	58.2
2026	53.7
2027	50.7
2028	49.5
2029	35.5
Thereafter	156.2
Total Operating Lease Payments	449.6
Operating Lease Payments, Less Imputed Interest	(69)
Present Value of Operating Lease Liability	$ 380.6

Leases Capital Leases, Future M

Leases Capital Leases, Future Minimum Payments Due (Details) $ in Millions	Mar. 31, 2024 USD ($)
Finance Leases, Future Minimum Payments Due [Line Items]
Remainder of 2024	$ 13
2025	17.5
2026	17.6
2027	17.8
2028	17.9
2029	18.1
Thereafter	22.9
Total Finance Lease Payments	124.8
Finance Lease Payments, Less Imputed Interest	(59.1)
Present Value of Finance Lease Liability	$ 65.7

Guarantees (Details)

Guarantees (Details)	3 Months Ended
Guarantees (Details)	Mar. 31, 2024 USD ($) years
Guarantor Obligations [Line Items]
Agreement automatic renewal period (in years) \| years	2
Contingent liability to SGX, amount of irrevocable letters of credit	$ 285,000,000
Line of Credit Facility, Commitment Fee Amount	350,000,000
Family Farmer and Ranchers Protection Fund [Member]
Guarantor Obligations [Line Items]
Payment per participant	25,000
Payment per cooperative	100,000
FutureLosses	100,000,000
Payments under Guarantee	2,000,000
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 98,000,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Balance	$ 26,737.9
Other comprehensive income (loss), net of tax	(30.5)	$ 2.7
Balance	27,154.2
Investment Securities [Member]
Balance	(0.4)	(0.9)
Other comprehensive income (loss) before reclassifications and income tax benefit (expense)	0	0.4
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Income tax benefit (expense)	0	(0.1)
Other comprehensive income (loss), net of tax	0	0.3
Balance	(0.4)	(0.6)
Defined Benefit Plans [Member]
Balance	(23.4)	(22.8)
Other comprehensive income (loss) before reclassifications and income tax benefit (expense)	(5.9)	(3.5)
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Income tax benefit (expense)	1.5	0.9
Other comprehensive income (loss), net of tax	(4.4)	(2.6)
Balance	(27.8)	(25.4)
Derivative Investments [Member]
Balance	62	64.7
Other comprehensive income (loss) before reclassifications and income tax benefit (expense)	0	0
Amounts reclassified from accumulated other comprehensive income (loss)	(0.9)	(1.2)
Income tax benefit (expense)	0.2	0.3
Other comprehensive income (loss), net of tax	(0.7)	(0.9)
Balance	61.3	63.8
Foreign Currency Translation [Member]
Balance	(93.8)	(174.3)
Other comprehensive income (loss) before reclassifications and income tax benefit (expense)	(25.4)	5.9
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Income tax benefit (expense)	0	0
Other comprehensive income (loss), net of tax	(25.4)	5.9
Balance	(119.2)	(168.4)
Accumulated Other Comprehensive Income (Loss) [Member]
Balance	(55.6)	(133.3)
Other comprehensive income (loss) before reclassifications and income tax benefit (expense)	(31.3)	2.8
Amounts reclassified from accumulated other comprehensive income (loss)	(0.9)	(1.2)
Income tax benefit (expense)	1.7	1.1
Other comprehensive income (loss), net of tax	(30.5)	2.7
Balance	$ (86.1)	$ (130.6)

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) $ in Millions	3 Months Ended
Fair Value Measurements (Narrative) (Details) $ in Millions	Mar. 31, 2024 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unrealized Loss on Investments	$ 1.5
Investments, Fair Value Disclosure	$ 10.1

Fair Value Measurements (Financ

Fair Value Measurements (Financial Instruments Measured At Fair Value On A Recurring Basis) (Details) - Fair Value, Recurring [Member] $ in Millions	Mar. 31, 2024 USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	$ 121
Total Assets at Fair Value	121
Corporate Debt Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	10
Mutual Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading Securities at Fair Value	110.8
Equity Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	0.2
Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	121
Total Assets at Fair Value	121
Fair Value, Inputs, Level 1 [Member] \| Corporate Debt Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	10
Fair Value, Inputs, Level 1 [Member] \| Mutual Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading Securities at Fair Value	110.8
Fair Value, Inputs, Level 1 [Member] \| Equity Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	0.2
Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	0
Total Assets at Fair Value	0
Fair Value, Inputs, Level 2 [Member] \| Corporate Debt Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	0
Fair Value, Inputs, Level 2 [Member] \| Mutual Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading Securities at Fair Value	0
Fair Value, Inputs, Level 2 [Member] \| Equity Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	0
Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	0
Total Assets at Fair Value	0
Fair Value, Inputs, Level 3 [Member] \| Corporate Debt Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	0
Fair Value, Inputs, Level 3 [Member] \| Mutual Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading Securities at Fair Value	0
Fair Value, Inputs, Level 3 [Member] \| Equity Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable Securities	$ 0

Fair Value Measurements (Estima

Fair Value Measurements (Estimated Fair Values of Long-Term Debt) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
$750.0 Million Fixed Rate Notes Due March 2025, stated rate of 3.00% [Member]
Debt Instrument, Face Amount	$ 750
Debt Instrument, Maturity Date	Mar. 15, 2025
$500.0 Million Fixed Rate Notes Due June 2028, stated rate of 3.75% [Member] [Domain]
Debt Instrument, Face Amount	$ 500
Debt Instrument, Maturity Date	Jun. 15, 2028
$750.0 million Fixed Rate Notes Due September 2043, stated rate of 5.30% [Member]
Debt Instrument, Face Amount	$ 750
Debt Instrument, Maturity Date	Sep. 15, 2043
$700.0 Million Fixed Rate Notes Due June 2048, stated rate of 4.15% [Member] [Domain] [Domain]
Debt Instrument, Face Amount	$ 700
Debt Instrument, Maturity Date	Jun. 15, 2048
$750.0 Million Fixed Rate Notes Due March 2032, Interest Equal To 2.65%
Debt Instrument, Face Amount	$ 750
Debt Instrument, Maturity Date	Mar. 15, 2032
Fair Value, Inputs, Level 2 [Member] \| $750.0 Million Fixed Rate Notes Due March 2025, stated rate of 3.00% [Member]
Debt Instrument, Fair Value Disclosure	$ 734.9
Debt Instrument, Face Amount	$ 750
Debt Instrument, Maturity Date	Mar. 15, 2025
Fair Value, Inputs, Level 2 [Member] \| $500.0 Million Fixed Rate Notes Due June 2028, stated rate of 3.75% [Member] [Domain]
Debt Instrument, Fair Value Disclosure	$ 485.8
Debt Instrument, Face Amount	$ 500
Debt Instrument, Maturity Date	Jun. 15, 2028
Fair Value, Inputs, Level 2 [Member] \| $750.0 million Fixed Rate Notes Due September 2043, stated rate of 5.30% [Member]
Debt Instrument, Fair Value Disclosure	$ 758.6
Debt Instrument, Face Amount	$ 750
Debt Instrument, Maturity Date	Sep. 15, 2043
Fair Value, Inputs, Level 2 [Member] \| $700.0 Million Fixed Rate Notes Due June 2048, stated rate of 4.15% [Member] [Domain] [Domain]
Debt Instrument, Fair Value Disclosure	$ 615.3
Debt Instrument, Face Amount	$ 700
Debt Instrument, Maturity Date	Jun. 15, 2048
Fair Value, Inputs, Level 2 [Member] \| $750.0 Million Fixed Rate Notes Due March 2032, Interest Equal To 2.65%
Debt Instrument, Fair Value Disclosure	$ 650.3

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	46	160
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	46	160

Earnings Per Share (Net Income

Earnings Per Share (Net Income Attributable To CME Group) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Dividends, Preferred Stock	$ (5.3)	$ (5)
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic	(5.5)	(6.1)
Net Income Attributable to Common Shareholders of CME Group	$ 844.4	$ 872.7
Basic (in shares)	359,258	358,933
Effect of stock options, restricted stock and performance shares	575	380
Diluted (in shares)	359,833	359,313
Earnings per common share, basic (in dollars per share)	$ 2.35	$ 2.43
Earnings per common share, diluted (in dollars per share)	$ 2.35	$ 2.43