Segment Analysis (Tables)

3 Months Ended

Dec. 31, 2023

Information for the reportable segments is shown in accordance with the Segment Reporting Topic of the ASC as follows:


	Three Months Ended December 31,
(in millions)	2023		2022
Total revenues:
Commercial	$	18,978.0	$	12,293.5
Institutional	435.7		343.5
Retail	101.7		316.2
Payments	60.6		55.4
Corporate	9.2		12.8
Eliminations	(12.2)		(9.8)
Total	$	19,573.0	$	13,011.6
Operating revenues:
Commercial	$	198.4	$	182.4
Institutional	435.7		343.5
Retail	92.5		70.5
Payments	60.6		55.4
Corporate	9.2		12.8
Eliminations	(12.2)		(9.8)
Total	$	784.2	$	654.8
Net operating revenues (loss):
Commercial	$	163.4	$	152.7
Institutional	148.6		143.2
Retail	67.0		43.9
Payments	58.2		53.3
Corporate	(15.6)		(11.1)
Total	$	421.6	$	382.0
Net contribution:
(Revenues less cost of sales of physical commodities, transaction-based clearing expenses, variable compensation, introducing broker commissions and interest expense)
Commercial	$	126.4	$	115.7
Institutional	100.2		94.6
Retail	62.6		39.2
Payments	47.6		42.1
Total	$	336.8	$	291.6
Segment income:
(Net contribution less non-variable direct segment costs)
Commercial	$	87.2	$	82.8
Institutional	65.2		62.0
Retail	28.7		(4.2)
Payments	35.0		32.3
Total	$	216.1	$	172.9
Reconciliation of segment income to income before tax:
Segment income	$	216.1	$	172.9
Net operating revenues (loss) within Corporate	(15.6)		(11.1)
Overhead costs and expenses	(104.8)		(89.7)
Gain on acquisition	—		23.5
Income before tax	$	95.7	$	95.6

(in millions)	As of December 31, 2023		As of September 30, 2023
Total assets:
Commercial	$	4,712.7	$	4,676.3
Institutional	16,140.9		15,059.3
Retail	1,138.2		1,014.2
Payments	414.0		376.6
Corporate	839.0		812.3
Total	$	23,244.8	$	21,938.7