Revenue From Contracts With Customers (Tables)

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following tables summarize the disaggregation of revenue by major product and service and by segment for the three and nine months ended September 30, 2022 and 2021:

	Three Months Ended September 30,
	2022		2021
	(in millions)
Market Technology
Anti Financial Crime Technology	$	77	$	62
Market Infrastructure Technology	55		52
Investment Intelligence
Market data	104		102
Index	125		119
Analytics	55		51
Corporate Platforms
Listing services	105		99
IR & ESG Services	63		56
Market Services
Transaction-based trading and clearing, net	219		214
Trade management services	86		78
Other revenues	1		5
Revenues less transaction-based expenses	$	890	$	838

Substantially all revenues from the Market Technology, Investment Intelligence and Corporate Platforms segments were recognized over time for the three months ended September 30, 2022 and 2021. For the three months ended September 30, 2022 and 2021 approximately 67.6% and 69.0%, respectively, of Market Services revenues were recognized at a point in time and 32.4% and 31.0%, respectively, were recognized over time.

	Nine Months Ended September 30,
	2022		2021
	(in millions)
Market Technology
Anti Financial Crime Technology	$	224	$	163
Market Infrastructure Technology	163		169
Investment Intelligence
Market data	318		310
Index	370		328
Analytics	163		149
Corporate Platforms
Listing services	320		282
IR & ESG Services	184		169
Market Services
Transaction-based trading and clearing, net	674		696
Trade management services	249		232
Other revenues	10		36
Revenues less transaction-based expenses	$	2,675	$	2,534

Remaining Performance Obligation

The following table summarizes the amount of the transaction price allocated to performance obligations that are unsatisfied, for contract durations greater than one year, as of September 30, 2022:

	Market Technology		Analytics		IR & ESG Services		Total
	(in millions)
Remainder of 2022	$	139	$	18	$	18	$	175
2023	510		60		56		626
2024	269		34		25		328
2025	154		13		5		172
2026	87		7		—		94
2027+	135		6		—		141
Total	$	1,294	$	138	$	104	$	1,536