Business mix
- It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.
- The Exchanges segment operates regulated marketplace technology for the listing, trading, and clearing of an array of derivatives contracts and financial securities.
- The Fixed Income and Data Services segment provides fixed income pricing, reference data, indices, analytics, and execution services, as well as global CDS clearing and multi-asset class data delivery technology.
- The Mortgage Technology segment offers a technology platform that provides customers comprehensive and digital workflow tools to address inefficiencies and mitigate risks that exist in the U.S.
Current key questions
- Can asset growth, client flows, fee rates, credit quality, or spread income support durable earnings in financial data & stock exchanges?
- How sensitive are margins and returns to interest rates, market levels, funding costs, and regulation?
- Do capital allocation, risk controls, and balance-sheet quality improve long-term per-share value?
