CME CME Group

FY2025 10-K
Filed: Feb 26, 2026
Financials
Security & Commodity Brokers, Dealers, Exchanges & ServicesSEC EDGAR

CME Group (CME) filed its fiscal year 2025 10-K annual report with the SEC on Feb 26, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.

AI Filing Analysis
FY2025 10-K

Business Overview

  • Global derivatives exchange operator: trading, clearing, and data services across interest rates, equities, FX, commodities, and crypto
  • Two new 2025 platform launches: BrokerTec Chicago (second CLOB for cash U.S. Treasuries co-located with futures) and FX Spot+ (connects OTC spot FX with futures liquidity)
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Management Discussion & Analysis

  • Revenue $6,520.6M in 2025, up ~6.4% YoY from $6,130.1M; clearing & transaction fees $5,281.1M (+5.9%), market data $803.1M (+13.1%)
  • Operating margin 64.9% vs 64.1% in 2024; net income $4,072.2M vs $3,525.8M; diluted EPS $11.16 vs $9.67
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Risk Factors

  • FMX Futures Exchange and prediction market platforms (via FanDuel JV) directly targeting CME's derivatives and event-contract segments; litigation ongoing across multiple jurisdictions
  • Basel III Endgame and potential GSIB capital surcharge changes could raise bank clearing firm capital requirements, reducing their trading activity in CME markets
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Financial Summary
XBRL

Revenue

$6.5B

Net Income

$4.1B

Operating Margin

64.9%

Net Margin

62.5%

ROE

14.2%

Total Assets

$198.4B

EPS (Diluted)

$11.16

Operating Cash Flow

$4.3B

Source: XBRL data from CME Group FY2025 10-K filing on SEC EDGAR. All figures in USD.

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