芝加哥商业交易所 2025年季度报告

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedJune30, 2025 Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). INDEX PART I. FINANCIAL INFORMATION Financial Statements Consolidated Balance Sheets atJune 30, 2025 and December 31, 2024Consolidated Statements of Income for the Quarters and Six Months Ended June 30, 2025 and 2024Consolidated Statements of Comprehensive Income for the Quarters and Six Months Ended June 30, 2025 and 2024 Notes to Unaudited Consolidated Financial Statements Risk FactorsUnregistered Sales of Equity Securities and Use of Proceeds Other InformationExhibitsSIGNATURES2 All references to “options” or “options contracts” in the text of this document refer to options on futures contracts.Further information about CME Group and its products can be found at http://www.cmegroup.com. Information made available on our website does not constitute a part of this Quarterly Report on Form 10-Q.Information about Contract Volume and Average Rate per Contract All amounts regarding contract volume and average rate per contract are for CME Group’s listed futures and options on futurescontracts unless otherwise noted. Trademark Information CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago MercantileExchange Inc.CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc.COMEX is a trademark of CommodityExchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group Limited. OSTTRA is atrademark of MarkitSERV Limited. Dow Jones, Dow Jones Industrial Average, S&P 500 and S&P are service and/or trademarks ofDow Jones Trademark Holdings LLC, Standard & Poor's Financial Services LLC and S&P Dow Jones Indices LLC, as the case maybe, and have been licensed for use by Chicago Mercantile Exchange Inc. (CME). All other trademarks are the property of theirrespective owners. expectations regarding future performance. These forward-looking statements are identified by their use of terms and phrases such as“believe,” “anticipate,” “could,” “estimate,” “intend,” “may,” “plan,” “expect” and similar expressions, including references toassumptions. These forward-looking statements are based on currently available competitive, financial and economic data, current expectations, estimates, forecasts and projections about the industries in which we operate and management's beliefs and assumptions.These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict.Therefore, actual outcomes and results may differ materially from what is expressed or implied in any forward-looking statements. Wewant to caution you not to place undue reliance on any forward-looking statements. We undertake no obligation to publicly update anyforward-looking statements, whether as a result of new information, future events or otherwise. Among the factors that might affectour performance are: ensuring that such technology is not vulnerable to security risks;•our ability to continue introducing innovative and competitive new products and services on a timely, cost-effective basis, including through our electronic trading capabilities, and derive revenues that are commensurate with our efforts andexpectations, and our ability to maintain the competitiveness of our existing products and services;•our ability to adjust our fixed costs and expenses if our revenues decline; •our ability to manage variable costs relating to CME Group's transition to the Google Cloud and minimize duplicative costsduring the transition between maintaining the on-premise environment and the Google Cloud environment;•our ability to maintain existing customers at substantially similar trading levels, develop strategic relationships and attract •our ability to expand and globally offer our products and services;•changes in regulations, including the impact of any changes in laws or government policies with respect to our products or services or our industry, such as any changes to regulations and policies that require increased financial and operationalresources from us or our customers, as well as the impact of tariffs and tax policy changes and the related uncertainty thereof, limitations or changes in underlying/physical product flows across geographies; the intellectual property rights of others;•decreases in revenue from our market data as a result of decreased demand or changes to regulations in various jurisdictions; impact of our t