Business Segments (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Schedule of Operating Segments

The following table presents certain information regarding our business segments for the three months ended March 31, 2019 and 2018:

	Market Services			Corporate Services		Information Services		Market Technology		Corporate Items			Consolidated
	(in millions)
Three Months Ended March 31, 2019
Total revenues	$	638		$	131	$	193	$	77	$	—		$	1,039
Transaction-based expenses	(405		)	—		—		—		—			(405		)
Revenues less transaction-based expenses	233			131		193		77		—			634
Operating income (loss)	$	135		$	46	$	124	$	7	$	(37	)	$	275
Three Months Ended March 31, 2018
Total revenues	$	735		$	132	$	174	$	60	$	50		$	1,151
Transaction-based expenses	(485		)	—		—		—		—			(485		)
Revenues less transaction-based expenses	250			132		174		60		50			666
Operating income (loss)	$	147		$	43	$	113	$	2	$	(32	)	$	273

Schedule of Corporate Items

A summary of our corporate items is as follows:

	Three Months Ended March 31,
	2019			2018
	(in millions)
Revenues - divested businesses	$	—		$	50
Expenses:
Amortization expense of acquired intangible assets	26			28
Merger and strategic initiatives expense	9			10
Expenses - divested businesses	—			42
Other	2			2
Total expenses	37			82
Operating loss	$	(37	)	$	(32	)