CME Group Experiences Eighth Consecutive Quarter of Growth in Revenue in Q2 2023

CME Group, the world's leading derivatives marketplace, published its financial results for the second quarter ended June 30, 2023 (Q2 2023), witnessing an increase of 9.9% in total revenue for the quarter.

Overview of Q2 2023 Finanical Results:

• Total revenue reported $1,360.2 million for the quarter, increasing 9.9% compared to $1,237.2 million in Q2 2022. Revenue of clearing and transaction fees came in at $1,118.3 million during the period, 9.1% higher than $1,024.6 million in the second quarter of last year.

• Revenue of market data and information services came in at $163.1 million, 7.5% higher than $151.7 million in the same period of 2022.

• Expenses totaled $521.6 million in Q2 2023, up 7.0% compared to $487.5 million in Q2 2022.

• Operating income amounted to $838.6 million, increasing 11.9% compared to $749.7 million in the same period of last year.

• Net income reached $777.6 million during the three months, rising 17.4% compared to $662.5 million in Q2 2023. On an adjusted basis, net income was $836 million and diluted earnings per common share were $2.30 for the quarter.

• Net income attributable to common shareholders of the Group was $767.8 million, rising 17.4% compared to $654.1 million in last Q2. Diluted EPS recorded $2.14 for Q2 2023, compared to $1.82 in the year-ago quarter.

• Average daily volume (ADV) for Q2 2023 came in at 22.9 million contracts, with Non-U.S ADV of 6.3 million contracts.

• As of June 30, 2023, the company had approximately $2 billion in cash (including approximately $120 million deposited with Fixed Income Clearing Corporation, which is included in other current assets) and $3.4 billion of debt. The company paid dividends of approximately $400 million during the second quarter of 2023.

Terry Duffy, Chairman and Chief Executive Officer of CME Group, commented: "Given ongoing uncertainty in both macroeconomic and geopolitical environments, market participants continued turning to CME Group risk management products and services in Q2, with particularly noteworthy volume increases across our interest rate, commodity and options contracts. As a result, we generated a 10% increase in revenue and a 17% rise in adjusted earnings per share, marking our eighth consecutive quarter of double-digit earnings growth. Looking ahead, we will remain focused on delivering value to our clients by helping them navigate through what has become an increasingly unpredictable world."