芝加哥商业交易所 2025年度报告

(Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December31, 2025OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-31553CME GROUP INC. (Exact name of registrant as specified in its charter) 36-4459170(IRS EmployerIdentification No.)60606(Zip Code) Delaware(State or Other Jurisdiction ofIncorporation or Organization)20 South Wacker Drive Chicago Illinois(Address of Principal Executive Offices) Name Of Each Exchange On Which Registered Securities registered pursuant to Section12(g) of the Act: Class B common stock, Class B-1, $0.01 par value; Class B common stock, Class B-2, $0.01 par value; ClassB common stock, Class B-3, $0.01 par value; and Class B common stock, Class B-4, $0.01par value. Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes☒No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d) of the Act.Yes☐No☒ Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerginggrowth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of theExchangeAct. Large Accelerated Filer☒Non-acceleratedfiler☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control overfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect thecorrection of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of theregistrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ The aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant as of June30, 2025, was approximately $98.9 billion(based on the closing price per share of CME Group Inc. ClassA common stock on the Nasdaq Global Select Market (Nasdaq) on such date). The number of sharesoutstanding of each of the registrant’s classes of common stock as of February11, 2026 was as follows: 358,622,331 shares of ClassA common stock, $0.01 par value;625 shares of Class B common stock, Class B-1, $0.01 par value; 813 shares of Class B common stock, ClassB-2, $0.01 par value; 1,287 shares of ClassB commonstock, ClassB-3, $0.01 par value; and 413 shares of ClassB common stock, ClassB-4, $0.01 par value. DOCUMENTS INCORPORATED BY REFERENCE: CME GROUP INC.ANNUAL REPORT ON FORM 10-KINDEX PARTI. BusinessRisk FactorsUnresolved Staff CommentsCybersecurityPropertiesLegal ProceedingsMine Safety Disclosures PARTII. Item5.Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchasesof Equity SecuritiesItem6.[Reserved]Item7.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem7A.Quantitative and Qualitative Disclosures about Market RiskItem8.Financial Statements and Supplementary DataItem9.Changes in and Disagreements with Accountants on Accounting and Financial DisclosureItem9A.Controls and ProceduresItem9B.Other InformationItem 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections PARTIII. Item10.Directors, Executive Officers and Corporate Governance96Item11.Executive Compensation97Item12.Secur