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What were the key takeaways from CME Group's earnings call?

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What guidance did CME Group's management provide for the next earnings period?

What is CME Group's latest dividend and current dividend yield?

What were the key takeaways from CME Group’s earnings call?

- **Record Growth**: Q3 ADTV 25.3M contracts, crypto up 225% YoY, market data revenue $203M (14% growth). 
- **Strategic Moves**: 24/7 crypto trading in 2026,2026, FanDuel partnership, BrokerTec Chicago. 
- **Financial Strength**: $1.5B OSTTRA sale proceeds, 3.5% market data price hike. 
- **Risk Management**: 46% cash collateral, stable OI growth. 
- **Energy Resilience**: Crude OI +10%, natural gas options +12%. 
- **Innovation**: Tokenization with Google, 24/7 crypto trading. 
- **Regulatory Focus**: Sports prediction markets pending federal approval.

**【CEO Summary Section】**
- **Record Volumes and Growth**: Q3 2025 ADTV of 25.3M contracts, second-highest on record, with crypto complex up 225% YoY and FX Spot+ setting monthly records. 
- **Strategic Innovations**: 24/7 crypto trading to launch in 2026, partnership with FanDuel for event contracts, and BrokerTec Chicago linking cash and futures markets. 
- **Market Data Dominance**: 30th consecutive quarter of market data revenue growth (+14% Q3), with 3.5% price increase effective 2026. 
- **Energy Resilience**: Crude oil OI up 10%, natural gas options +12%, driven by U.S. LNG exports. 
- **Cost Efficiency**: $1.5B OSTTRA sale proceeds to be returned to shareholders, with debt-to-EBITDA ratio lowest in sector. 
- **Risk Management**: 46% cash collateral allocation reflects client preference for liquidity amid volatility. 
- **Future Growth**: 24/7 trading, tokenization with Google, and expanding credit futures pipeline. 

**【CFO Financial Commentary】**
- **Revenue**: $1.5B (down 3% YoY due to high 2024 base), market data at record $203M, adj. EPS $2.68 (slightly above 2024 Q3). 
- **Expense Control**: YTD 2025 adj. EPS +9% vs. 2024, with $1.625B annual expense guidance. 
- **Capital Deployment**: $1.5B OSTTRA sale proceeds to be returned via buybacks/dividends. 
- **Collateral Balances**: $135B cash (33bps yield), $164B non-cash (10bps). 
- **Google Savings**: $100M 2025 spend vs. $115M guidance, driven by cloud optimization. 

**【Q&A Highlights】**
- **Retail Strategy**: 13M FanDuel accounts accessing CME, no M&A needed for scale. 
- **Crypto Trading**: 24/7 crypto launch in 2026, pending regulatory approval. 
- **Energy Outlook**: Natural gas OI growth with U.S. LNG exports. 
- **Market Data Pricing**: 3.5% increase effective 2026. 
- **Capital Allocation**: Board to recommend use of $1.5B OSTTRA proceeds. 
- **Credit Futures**: 300 pipeline opportunities, targeting asset managers and hedge funds. 
- **FX Spot+**: $5.6B single-day volume, 70+ entities traded. 
- **Regulatory Risk**: Sports prediction markets require federal approval. 
- **Liquidity Management**: 46% cash collateral reflects client preference for liquidity. 
- **Innovation Pipeline**: Tokenization with Google, 24/7 trading, and credit futures expansion.

CME Group Inc. (CME) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

CME

CME fundamentals

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