Business Segments (Tables)

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Schedule of Operating Segments

The following table presents certain information regarding our business segments for the three months ended March 31, 2020 and 2019:

	Market Services		Corporate Services		Information Services		Market Technology		Corporate Items		Consolidated
	(in millions)
Three Months Ended March 31, 2020
Total revenues	$	933	$	128	$	211	$	81	$	—	$	1,353
Transaction-based expenses	(652)		—		—		—		—		(652)
Revenues less transaction-based expenses	281		128		211		81		—		701
Operating income (loss)	$	178	$	45	$	134	$	8	$	(90)	$	275
Three Months Ended March 31, 2019
Total revenues	$	638	$	121	$	193	$	77	$	10	$	1,039
Transaction-based expenses	(405)		—		—		—		—		(405)
Revenues less transaction-based expenses	233		121		193		77		10		634
Operating income (loss)	$	135	$	44	$	124	$	7	$	(35)	$	275

Schedule of Corporate Items

A summary of our corporate items is as follows:

	Three Months Ended March 31,
	2020		2019
	(in millions)
Revenues - divested business	$	—	$	10
Expenses:
Amortization expense of acquired intangible assets	25		26
Merger and strategic initiatives expense	7		9
Restructuring charges	12		—
Extinguishment of debt	36		—
Expenses - divested business	—		8
Other	10		2
Total expenses	90		45
Operating loss	$	(90)	$	(35)