Core Insights - CME Group reported revenue of $1.65 billion for the quarter ended December 2025, reflecting an 8.1% increase year-over-year and a surprise of +1.31% over the Zacks Consensus Estimate of $1.63 billion [1] - Earnings per share (EPS) for the quarter was $2.77, up from $2.52 in the same quarter last year, with an EPS surprise of +0.91% compared to the consensus estimate of $2.75 [1] Financial Performance Metrics - Average daily volume was 27.35 million, slightly below the average estimate of 27.49 million [4] - Average rate per contract for various segments: - Interest rates: $0.49, matching the estimate [4] - Equity indexes: $0.61, below the estimate of $0.64 [4] - Foreign exchange: $0.85, above the estimate of $0.83 [4] - Energy: $1.25, slightly above the estimate of $1.24 [4] - Agricultural commodities: $1.43, above the estimate of $1.42 [4] - Average daily volume for metals was 1.44 million, exceeding the estimate of 1.3 million [4] - Revenues from different segments: - Other: $112.8 million, above the estimate of $111.34 million, with a year-over-year change of +1.3% [4] - Market data and information services: $208 million, exceeding the estimate of $203.62 million, with a year-over-year change of +14.5% [4] - Clearing and transaction fees: $1.33 billion, slightly above the estimate of $1.32 billion, with a year-over-year change of +7.8% [4] Stock Performance - CME shares have returned +8.9% over the past month, outperforming the Zacks S&P 500 composite's +0.9% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh. ...

Financial Data and Key Metrics Changes - CME Group achieved record revenues of $6.5 billion in 2025, a 6% increase compared to 2024, with annual revenue records in five out of six asset classes [11] - Adjusted net income reached $4.1 billion, resulting in a 9% growth in adjusted earnings per share for the year [11] - In Q4 2025, revenue was $1.65 billion, an 8% increase from Q4 2024, with an adjusted operating margin of 67% [12] Business Line Data and Key Metrics Changes - Average daily volume increased by 6% to 2,128.1 million contracts, with record volumes in interest rate, energy, metals, agricultural, and crypto complexes [5] - Market data revenue surpassed $800 million for the first time, up 13% from 2024 [11] - Micro products saw a 59% increase in Q4 to a record 4.4 million contracts per day [8] Market Data and Key Metrics Changes - International business averaged 8.4 million contracts per day, up 8% from the previous record set in 2024 [5] - Average daily margin savings for customers reached $80 billion, an increase of approximately $20 billion over the past year [6] Company Strategy and Development Direction - CME Group is focused on innovation, launching Event Contracts to expand its customer base and provide greater access to markets [8] - The company plans to introduce 24/7 trading for its entire crypto suite and is evaluating whether other asset classes would benefit from 24/7 trading [10] - CME Securities Clearing is set to launch later this year, enhancing capital efficiencies for the industry [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the health of the customer base, noting that open positions are around 125 million and that retail and institutional segments are growing [18][19] - The macro landscape is complex, but CME Group remains focused on providing premier risk management tools [10] - The company is encouraged by strong activity in early 2026, continuing the momentum from a record-setting year [15] Other Important Information - CME Group repurchased $256 million in shares during Q4 and an additional $276 million in 2026 [12] - The board approved the use of OSTTRA proceeds for share repurchases over time [12] - The company expects total adjusted operating expenses to be approximately $1.695 billion in 2026 [14] Q&A Session Summary Question: Health of customer base amid volatility - Management indicated that the customer base is healthy, with open positions and volume increases across all regions, despite raised margin requirements in the metals complex [18][19] Question: Engagement in prediction markets - Management noted strong interest from new individual participants and institutional market makers in prediction markets, indicating a robust pipeline for future engagement [25][26] Question: Pricing changes and market data - Management discussed a 3.5% rack rate increase for market data products and emphasized the importance of subscription revenue growth [35][37] Question: Cross-margining programs and treasury clearing - Management confirmed operational readiness for the CME FICC cross-margining program and discussed the anticipated benefits of treasury clearing for collateral balances [89][94] Question: Tokenized collateral and AI disintermediation risk - Management is exploring tokenized cash initiatives and believes AI will enhance rather than disrupt their data business [82][68]

Financial Data and Key Metrics Changes - CME Group achieved record revenues of $6.5 billion in 2025, a 6% increase compared to 2024, with annual revenue records in five out of six asset classes [11] - Adjusted net income for 2025 was $4.1 billion, resulting in a 9% growth in adjusted earnings per share [11] - Average daily volume increased by 6% to 2,128.1 million contracts, marking the fifth consecutive year of record volume [5][10] Business Line Data and Key Metrics Changes - Market data revenue surpassed $800 million for the first time, up 13% from 2024 [11] - Average daily margin savings for customers reached $80 billion, an increase of approximately $20 billion over the past year [6] - Retail-focused products saw significant growth, with microproducts up 59% in Q4 to a record 4.4 million contracts per day [8] Market Data and Key Metrics Changes - International business averaged 8.4 million contracts per day, up 8% from the previous record set in 2024 [5] - Average daily volume in cryptocurrency trading reached 379,000, up 92% in Q4, representing over $13 billion in notional value traded per day [9] Company Strategy and Development Direction - CME Group is focused on expanding its customer base through innovative products, including event contracts and 24/7 trading for cryptocurrency [8][10] - The company received approval for CME Securities Clearing, set to launch later this year, enhancing capital efficiencies for clients [7] - CME Group aims to continuously evolve its product offerings, requiring strategic investments for growth [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the health of the customer base, noting growth in both retail and institutional segments [18][19] - The company remains focused on providing premier risk management tools to navigate a complex macro landscape [10] - Management is encouraged by strong activity in early 2026, indicating a solid foundation for continued growth [101] Other Important Information - CME Group repurchased $256 million in shares during Q4 and an additional $276 million in 2026 [12] - The board approved the use of OSTTRA proceeds for share repurchases over time [12] - The company plans to evaluate transaction fees regularly, moving away from annual consolidated changes [13][39] Q&A Session Questions and Answers Question: Health of customer base amid volatility - Management indicated that the customer base is healthy, with open positions around 125 million and significant growth in silver contracts despite margin changes [18][19] Question: Engagement with prediction markets - Management noted increased interest from new individual participants and institutional market makers in prediction markets since the launch [25][26] Question: Pricing changes and transparency - Management explained that pricing changes will be made based on business performance rather than a fixed schedule, allowing for more flexibility [44] Question: Progress on Google Cloud migration - The migration is on track, with $29 million spent in Q4 and around $100 million for the year related to cloud expenses [76][77] Question: Tokenized collateral and its implications - Management is exploring tokenized cash initiatives and will assess the risk associated with accepting different types of tokens for margin [82] Question: Cross-margining programs and collateral balances - CME Group's cross-margining program is operationally ready, with significant savings generated for participating firms, and the company anticipates further growth in collateral balances with new offerings [89][94]

Financial Data and Key Metrics Changes - CME Group achieved record revenue of $6.5 billion in 2025, a 6% increase compared to 2024, with annual revenue records in five out of six asset classes [10] - Adjusted net income for 2025 was $4.1 billion, resulting in a 9% growth in adjusted earnings per share [10] - In Q4 2025, revenue reached $1.65 billion, an 8% increase from Q4 2024 [10][11] - Average daily volume increased 6% to 2,128.1 million contracts, marking the fifth consecutive year of record volume [4] Business Line Data and Key Metrics Changes - Market data revenue surpassed $800 million for the first time, up 13% from 2024 [10] - Average daily margin savings for customers reached $80 billion, an increase of approximately $20 billion over the past year [5] - Microproducts saw a 59% increase in Q4 to a record 4.4 million contracts per day [6] Market Data and Key Metrics Changes - International business averaged 8.4 million contracts per day, up 8% from the previous record set in 2024 [4] - Cryptocurrency trading volume in Q4 averaged 379,000 contracts, up 92%, representing over $13 billion in notional value traded per day [7] Company Strategy and Development Direction - CME Group is focused on expanding its customer base through innovative products, including event contracts and 24/7 trading for cryptocurrencies [6][9] - The company received approval for CME Securities Clearing, set to launch in 2026, enhancing capital efficiencies for clients [5] - CME Group aims to continuously evolve its product offerings, requiring strategic investments for growth [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the health of the customer base, noting growth in both retail and institutional segments [18] - The macro landscape is becoming increasingly complex, but CME Group remains focused on providing premier risk management tools [9] - Strong activity in January 2026 indicates continued momentum from the record-setting year [9] Other Important Information - CME Group repurchased $256 million in shares during Q4 and an additional $276 million in 2026 [11] - The company paid dividends of approximately $3.9 billion in 2025 [12] - Transaction fee changes are expected to increase total revenue by approximately 1%-1.5% on similar activity to 2025 [12] Q&A Session Summary Question: Health of customer base amid volatility - Management indicated that the customer base is healthy, with open positions around 125 million and strong performance in silver despite margin changes [17][18] Question: Engagement with prediction markets - CME Group has seen new individual participants and institutional market makers interested in prediction markets since the launch [25][26] Question: Pricing changes and transparency - Management stated that pricing changes will be made based on business performance rather than a fixed schedule, allowing for flexibility [44] Question: Google Cloud migration progress - Migration is on track, with $29 million spent in Q4 and approximately $100 million for the year related to Google Cloud [78] Question: Tokenized collateral and its implications - CME Group is exploring tokenized cash initiatives and will assess the risk associated with different types of tokens before acceptance [84][85] Question: Cross-margining programs and collateral balances - CME Group's cross-margining program is operationally ready, with significant savings generated for participating firms [90][96]

🚨UPDATE: CME GROUP POSTS $6.5B REVENUE IN 2025CME Group reports full-year 2025 revenue of $6.5B, reflecting steady trading activity and sustained demand for derivatives amid market volatility. https://t.co/p0IrlFC7YN ...

Exhibit 99.1 Media contact Investor contact Timothy Barello, 212.299.2256 Adam Minick, 312.340.8365 Laurie Bischel, 312.648.8698 investors@cmegroup.com news@cmegroup.com CME-G cmegroup.mediaroom.com FOR IMMEDIATE RELEASE CME Group Inc. Reports Fourth Consecutive Year of Record Annual Revenue, Adjusted Operating Income, Adjusted Net Income and Adjusted Earnings Per Share for 2025 CHICAGO, February 4, 2026 - CME Group Inc. (NASDAQ: CME) today reported financial results for the fourth quarter and full year of ...

Financial Performance - CME Group reported fourth-quarter 2025 revenue of $1.6 billion, with operating income of $1.0 billion and net income of $1.2 billion, resulting in diluted earnings per share of $3.24 [1][2] - For the full year 2025, total revenue reached $6.5 billion, with operating income of $4.2 billion and net income of $4.1 billion, leading to diluted earnings per share of $11.16 [2][3] Record Achievements - The company achieved its best year in history, marking the fourth consecutive year of record revenue, adjusted operating income, adjusted net income, and adjusted earnings per share [3] - Average daily volume (ADV) reached a record 28.1 million contracts, with commodities trading growing by 12% and financials by 5% [3][4] Revenue Breakdown - Clearing and transaction fees revenue for Q4 2025 totaled $1.3 billion, with an average rate per contract of $0.707 [5][19] - Market data revenue for Q4 2025 was $208 million, contributing to a record annual market data revenue of $803 million, up 13% from the previous year [5][8] Cash and Debt Position - As of December 31, 2025, CME Group had approximately $4.6 billion in cash and $3.4 billion in debt, with dividends paid amounting to approximately $3.9 billion in 2025 [6] Future Initiatives - The company plans to enhance average daily margin efficiencies of $80 billion provided to market users in Q4 and expand access through initiatives like U.S. Treasury clearing and 24/7 cryptocurrency trading [3]

Core Insights - CME Group reported its highest January average daily volume (ADV) on record at 29.6 million contracts, a 15% increase year-over-year, surpassing the previous record of 25.7 million contracts set in January 2025 [1][2] Volume Highlights - January 2026 ADV across various asset classes includes: - Interest Rate ADV: 13.9 million contracts, up 18% - Equity Index ADV: 7.3 million contracts, up 4% - Energy ADV: 3.6 million contracts, up 11% - Metals ADV: 2.2 million contracts, up 218% - Agricultural ADV: 1.6 million contracts - Foreign Exchange ADV: 991,000 contracts - Cryptocurrency ADV: 408,000 contracts, representing $10.8 billion notional [4] Product Performance - Record ADV in specific products: - Micro Silver futures ADV reached 438,000 contracts - 1-Ounce Gold futures ADV reached 115,000 contracts - Micro Copper futures ADV reached 48,000 contracts - Micro Gold futures ADV increased 472% to 693,000 contracts [3][4] International and Platform Performance - International ADV increased 19% to 9.2 million contracts, with EMEA ADV up 18% to 6.7 million contracts and APAC ADV up 25% to 2.2 million contracts [4] - BrokerTec U.S. Repo average daily notional value increased 20% to $382 billion, while European Repo ADNV increased 11% to €346 billion [4]

Market Overview - Gold prices dropped as much as 6% and silver fell 10% due to increased margin requirements by CME Group following a significant decline on Friday, leading to a selloff across markets as leveraged investors unwound positions to meet margin calls [1][8] - U.S.-listed gold and silver mining companies experienced declines in premarket trading, with Newmont down 2.2%, Barrick Mining down 2.8%, and Kinross Gold down 3.2% [1][8] Economic and Policy Impact - The selloff in precious metals intensified after U.S. President Donald Trump nominated Kevin Warsh as the next Federal Reserve chair, a decision perceived as hawkish by investors [2][8] - Shares of energy companies fell as oil prices decreased by 5% after Trump indicated that Iran was engaging in discussions with Washington, which eased concerns over supply disruptions [4][8] Technology Sector Performance - The volatility VIX index rose to 19.11, nearing a two-week high, influenced by mixed earnings from major tech companies and increased policy uncertainty following Trump's nomination of Warsh [5][9] - Major tech stocks, including Nvidia and Tesla, saw declines of nearly 2% each, while Meta and Alphabet lost 1.4% and 0.9%, respectively [5][9] - Microsoft shares recorded their worst week since March 2020 due to disappointing cloud revenue, raising concerns about the returns on significant investments in artificial intelligence [6][9] - Oracle's shares dropped 3.7% after announcing plans to raise $45 billion to $50 billion in debt and equity this year [6][9] Upcoming Economic Indicators - The U.S. is expected to experience a brief government shutdown after Congress failed to approve funding, with key economic data releases scheduled for the week, including January manufacturing PMI and labor market indicators such as JOLTS and nonfarm payrolls [7][9]