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Condensed Consolidated Statements of Income (unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenues:    
Transaction fees $ 256.4 $ 126.2
Access fees 17.8 13.2
Exchange services and other fees 15.4 11.4
Market data fees 22.5 8.0
Regulatory fees 38.3 9.1
Other revenue 5.8 2.6
Total Revenues 356.2 170.5
Cost of Revenues:    
Liquidity payments 105.3 6.6
Routing and clearing 6.3 1.7
Section 31 fees 30.0 0.0
Royalty fees 21.2 19.1
Total Cost of Revenues 162.8 27.4
Revenues less Cost of Revenues 193.4 143.1
Operating Expenses:    
Compensation and benefits 47.8 27.1
Depreciation and amortization 25.1 11.9
Technology support services 7.5 5.7
Professional fees and outside services 14.4 13.6
Travel and promotional expenses 3.3 2.5
Facilities costs 2.1 1.5
Acquisition-related costs 65.2 0.0
Change in contingent consideration 0.2 0.0
Other expenses 1.7 1.3
Total Operating Expenses 167.3 63.6
Operating Income 26.1 79.5
Non-operating (Expenses) Income:    
Interest (expense) income, net (7.9) 0.7
Other income 0.1 0.3
Income Before Income Tax Provision 18.3 80.5
Income tax provision 3.1 31.3
Net income 15.2 49.2
Net loss attributable to noncontrolling interests 0.3 0.2
Net Income Excluding Noncontrolling Interests 15.5 49.4
Change in redemption value of noncontrolling interests (0.3) 0.0
Net income allocated to participating securities (0.1) (0.2)
Net Income Allocated to Common Stockholders $ 15.1 $ 49.2
Net Income Per Share Allocated to Common Stockholders:    
Basic earnings per share (in USD per share) $ 0.16 $ 0.60
Diluted earnings per share (in USD per share) $ 0.16 $ 0.60
Basic weighted average shares outstanding (in shares) 91.9 81.8
Diluted weighted average shares outstanding (in shares) 92.0 81.8