CME Group Inc. Reports Highest Q3 Revenue on Record for Q3 2026
CME GROUP INC. (CME) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Media contact Investor contact Laurie Bischel, 312.292.1937 Adam Minick, 312.340.8365 news@cmegroup.com investors@cmegroup.com cmegroup.mediaroom.com CME-G FOR IMMEDIATE RELEASE CME Group Inc. Reports Highest Q3 Revenue on Record for Q3 2026 • Double-digit revenue an
How this was made
The 30-second read
Why it matters
The record revenue and earnings suggest continued market share gains and may boost related trading volumes.
Market read
CME’s earnings beat is a primary catalyst for equities and derivatives markets today.
What to watch
Potential cost pressures from cloud migration and competition could temper upside.
CME Group Inc. Reports Highest Q3 Revenue on Record for Q3 2026
Third-quarter revenue, operating income, net income and adjusted earnings rose versus the prior-year quarter, while ADV reached a third-quarter record and market data revenue reached a record.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Total Revenues, quarter ended September 30GAAP | $1.74B | – | – |
| Clearing and transaction fees revenue, quarter ended September 30GAAP | $1.38B | – | – |
| Market data and information services revenue, quarter ended September 30GAAP | $243.1M | – | 20% |
| Other revenue, quarter ended September 30GAAP | $116.1M | – | – |
| Total Expenses, quarter ended September 30GAAP | $595.9M | – | – |
| Compensation and benefits expense, quarter ended September 30GAAP | $234.3M | – | – |
| Technology expense, quarter ended September 30GAAP | $ 80.9 | – | – |
| Professional fees and outside services expense, quarter ended September 30GAAP | $ 31.1 | – | – |
| Amortization of purchased intangibles expense, quarter ended September 30GAAP | $ 56.0 | – | – |
| Depreciation and amortization expense, quarter ended September 30GAAP | $ 27.4 | – | – |
| Licensing and other fee agreements expense, quarter ended September 30GAAP | $104.2M | – | – |
| Other expense, quarter ended September 30GAAP | $ 62.0 | – | – |
| Operating Income, quarter ended September 30GAAP | $1.14B | – | – |
| Total Non-Operating Income (Expense), quarter ended September 30GAAP | $213.4M | – | – |
| Income before Income Taxes, quarter ended September 30GAAP | $1.35B | – | – |
| Income tax provision, quarter ended September 30GAAP | $317.9M | – | – |
| Net Income, quarter ended September 30GAAP | $1.04B | – | – |
| Diluted earnings per share attributable to common shareholders, quarter ended September 30GAAP | $ 2.89 | – | – |
| Adjusted Total Expenses, quarter ended September 30non-GAAP | $531.8M | – | – |
| Adjusted Operating Income, quarter ended September 30non-GAAP | $1.21B | – | – |
| Adjusted Net Income, quarter ended September 30non-GAAP | $1.08B | – | – |
| Adjusted diluted earnings per share attributable to common shareholders, quarter ended September 30non-GAAP | $ 3.02 | – | – |
| Total Revenues, nine months ended September 30GAAP | $5.32B | – | – |
| Clearing and transaction fees revenue, nine months ended September 30GAAP | $4.27B | – | – |
| Market data and information services revenue, nine months ended September 30GAAP | $705.3M | – | – |
| Other revenue, nine months ended September 30GAAP | $345.1M | – | – |
| Total Expenses, nine months ended September 30GAAP | $1.77B | – | – |
| Operating Income, nine months ended September 30GAAP | $3.56B | – | – |
| Net Income, nine months ended September 30GAAP | $3.23B | – | – |
| Diluted earnings per share attributable to common shareholders, nine months ended September 30GAAP | $ 8.96 | – | – |
| Adjusted Operating Income, nine months ended September 30non-GAAP | $3.76B | – | – |
| Adjusted Net Income, nine months ended September 30non-GAAP | $3.39B | – | – |
| Adjusted diluted earnings per share attributable to common shareholders, nine months ended September 30non-GAAP | $ 9.38 | – | – |
| CME Group ADV, 3Q 2026other | 29,445 | – | – |
| Interest rates ADV, 3Q 2026other | 15,121 | – | – |
| Equity indexes ADV, 3Q 2026other | 7,714 | – | – |
| Foreign exchange ADV, 3Q 2026other | 988 | – | – |
| Energy ADV, 3Q 2026other | 2,665 | – | – |
| Agricultural commodities ADV, 3Q 2026other | 2,022 | – | – |
| Metals ADV, 3Q 2026other | 935 | – | – |
| Average rate per contract, 3Q 2026other | $ 0.679 | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Clearing and transaction feesQ3 2026 average daily volume climbed to a third-quarter record of 29.4 million contracts. | $1.38B | – | – |
| Market data and information servicesMarket data revenue totaled a record $243 million for third-quarter 2026. | $243.1M | – | 20% |
| OtherNo driver was provided. | $116.1M | – | – |
Amounts quoted below without a unit are in millions, as in the filing’s tables. Per-share figures are as printed.
Capital returns
- The company returned nearly $1 billion to shareholders during the quarter.
- $465 million in regular quarterly dividends.
- $524 million in share repurchases.
What drove it
- CME Group ADV reached 29.4 million contracts, the highest Q3 ADV on record.
- Non-U.S. ADV reached a third-quarter high of 9 million contracts.
- The company stated that volume grew by double digits across all six asset classes.
- Interest-rates ADV was 15,121 in 3Q 2026, compared with 13,378 in 3Q 2025.
- Equity-index ADV was 7,714 in 3Q 2026, compared with 6,278 in 3Q 2025.
- Market data revenue totaled a record $243 million and increased 20%.
- The company generated a new high of $100 billion in average daily capital efficiencies.
Concerns
- Average rate per contract was $ 0.679 in 3Q 2026, compared with $ 0.702 in 3Q 2025.
- Technology expense was $ 80.9 in the quarter, compared with $ 71.4 in the prior-year quarter.
- Licensing and other fee agreements expense was $ 104.2 in the quarter, compared with $ 81.6 in the prior-year quarter.
- The company identified variable costs associated with its transition to Google Cloud and duplicative costs of maintaining on-premise and Google Cloud environments during the transition as risk factors.
What to watch
- Average rate per contract by product line, including interest rates at $ 0.489, equity indexes at $ 0.605, foreign exchange at $ 0.852, energy at $ 1.146, agricultural commodities at $ 1.377 and metals at $ 1.326 in 3Q 2026.
- Whether the cloud migration continues to progress and the associated variable and duplicative costs.
- Future trading activity across all six asset classes and non-U.S. ADV.
- Market data revenue following the reported record $243 million in third-quarter revenue.
- Capital return activity following $465 million of regular quarterly dividends and $524 million of share repurchases.
Balance sheet and cash flow
- Cash and cash equivalents were $ 2,198.5 as of September 30, 2026, compared with $ 4,416.9 as of December 31, 2025.
- The company reported $2.4 billion in cash, including $225 million deposited with Fixed Income Clearing Corporation, which is included in other current assets.
- Long-term debt was $ 3,425.1 as of September 30, 2026, compared with $ 3,422.3 as of December 31, 2025.
- The company reported $3.4 billion of debt as of September 30, 2026.
- Total Assets were $ 192,092.5 as of September 30, 2026, compared with $ 198,424.2 as of December 31, 2025.
- No operating cash flow or free cash flow was reported.
Analysis
CME Group reported its highest Q3 revenue on record, with GAAP total revenues of $ 1,737.3 for the quarter ended September 30, 2026, compared with $ 1,537.6 in the prior-year quarter. Clearing and transaction fees revenue was $ 1,378.1, compared with $ 1,227.9, while market data and information services revenue reached a record $ 243.1, compared with $ 202.5. The company stated that market data revenue increased 20%. Management attributed activity to heightened uncertainty, and reported a third-quarter record ADV of 29.4 million contracts.
Volume was broad-based according to the release, with management citing double-digit growth across all six asset classes. The operating-statistics table showed interest-rates ADV of 15,121 versus 13,378 a year earlier, equity-index ADV of 7,714 versus 6,278, energy ADV of 2,665 versus 2,295, agricultural commodities ADV of 2,022 versus 1,712, metals ADV of 935 versus 825 and foreign-exchange ADV of 988 versus 834. Non-U.S. ADV reached a third-quarter high of 9 million contracts. Average rate per contract was $ 0.679, compared with $ 0.702 in 3Q 2025 and $ 0.678 in 2Q 2026.
GAAP operating income was $ 1,141.4, compared with $ 972.6, and GAAP net income was $ 1,036.9, compared with $ 908.0. Diluted earnings per share was $ 2.89, compared with $ 2.49. On an adjusted basis, operating income was $ 1,205.5 versus $ 1,051.0, adjusted net income was $ 1,083.9 versus $ 978.4, and adjusted diluted earnings per share was $ 3.02 versus $ 2.68. Total expenses were $ 595.9 versus $ 565.0, with technology expense at $ 80.9 versus $ 71.4 and licensing and other fee agreements expense at $ 104.2 versus $ 81.6.
The balance sheet included $ 2,198.5 of cash and cash equivalents and $ 3,425.1 of long-term debt at September 30, 2026. CME Group returned nearly $1 billion to shareholders during the quarter through $465 million in regular quarterly dividends and $524 million in share repurchases. The release did not provide financial guidance. Management highlighted a new high of $100 billion in average daily capital efficiencies and progress in cloud migration, while the filing identified transition-related variable and duplicative cloud costs among the relevant risks.
Management, verbatim
As uncertainty intensified in Q3, clients turned to CME Group in record numbers to manage risk and capitalize on opportunities.
Terry Duffy, CME Group Chairman and Chief Executive Officer
Our average daily volume reached 29.4 million contracts, the highest Q3 ADV on record.
Terry Duffy, CME Group Chairman and Chief Executive Officer
We also made strong progress in our cloud migration, making CME Group the only exchange to offer clients the choice of both co-location and cloud-managed services to expand access to our markets for years to come.
Terry Duffy, CME Group Chairman and Chief Executive Officer
Not in the filing
stated, not guessed- Forward financial guidance was not provided.
- Previous-release outlook was not provided.
- Gross margin was not reported.
- Operating margin was not reported.
- Adjusted operating margin was not reported.
- Operating cash flow was not reported.
- Free cash flow was not reported.
- A reported effective tax rate was not provided.
- Year-over-year percentage changes for most income-statement line items were not printed.
- Quarter-over-quarter income-statement comparisons were not reported.
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
CME Group is the world’s leading derivatives marketplace, providing futures, options, and clearing services across multiple asset classes.
Ticker impact
CME Group reported record Q3 2026 revenue of $1.7B and double‑digit net income growth in its 8‑K filing.
upward pressure as investors price in higher revenue and earnings growth.
Record revenue, higher operating income and a $1 billion share repurchase signal financial strength; market typically reacts positively to such results.
Market effects
Derivatives and clearing services sector may see increased investor confidence.
U.S. markets likely to open higher on CME's strong performance.
Global traders may adjust exposure to futures and options markets given CME's record ADV.
Counterpoint
If the market had already priced in strong demand, the earnings surprise could be muted.
Key entities
- companyCME Group Inc.
NASDAQ‑listed derivatives exchange operator.
- executiveTerry Duffy
Chairman and CEO of CME Group.
