CME (CME) 10-Q 3 May 18 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 11, 2018
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,018
Entity Registrant Name	CME GROUP INC.
Entity Central Index Key	1,156,375
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Class A Common Stock [Member]
Entity Common Stock, Shares Outstanding		340,509,620
Class B Common Stock, Class B-1 [Member]
Entity Common Stock, Shares Outstanding		625
Class B Common Stock, Class B-2 [Member]
Entity Common Stock, Shares Outstanding		813
Class B Common Stock, Class B-3 [Member]
Entity Common Stock, Shares Outstanding		1,287
Class B Common Stock, Class B-4 [Member]
Entity Common Stock, Shares Outstanding		413

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Mar. 31, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents		$ 784.6	$ 1,903.6
Marketable securities		90.4	90.1
Accounts receivable, net of allowance of $2.7 and $2.2		444.1	359.7
Other current assets (includes $492.3 and $0 in restricted cash)		646.8	367.8
Performance bonds and guaranty fund contributions		39,088.9	44,185.3
Total current assets		41,054.8	46,906.5
Property, net of accumulated depreciation and amortization of $704.8 and $676.6		387.2	399.7
Intangible assets—trading products	[1]	17,175.3	17,175.3
Intangible assets—other, net		2,322.6	2,346.3
Goodwill		7,569	7,569
Other assets (includes $1.4 and $2.4 in restricted cash)		1,410.4	1,394.4
Total Assets		69,919.3	75,791.2
Liabilities and Equity
Accounts payable		25	31.3
Other current liabilities		331.4	1,456.3
Performance bonds and guaranty fund contributions		39,088.9	44,185.3
Total current liabilities		39,445.3	45,672.9
Long-term debt		2,233.5	2,233.1
Deferred income tax liabilities, net		4,846.6	4,857.7
Other liabilities		621.1	615.7
Total Liabilities		47,146.5	53,379.4
Shareholders' Equity:
Preferred stock, $0.01 par value, 10,000 shares authorized at March 31, 2018 and December 31, 2017; none issued		0	0
Additional paid-in capital		17,904.1	17,896.9
Retained earnings		4,845.4	4,497.2
Accumulated other comprehensive income (loss)		19.9	14.3
Total shareholders’ equity		22,772.8	22,411.8
Total Liabilities and Equity		69,919.3	75,791.2
Class A Common Stock [Member]
Shareholders' Equity:
Common stock		3.4	3.4
Class B Common Stock [Member]
Shareholders' Equity:
Common stock		$ 0	$ 0
[1]	)Trading products represent futures and options products acquired in our business combinations with CBOT Holdings, Inc., NYMEX Holdings, Inc. and The Board of Trade of Kansas City, Missouri, Inc. Clearing and transaction fees are generated through the trading of these products. These trading products, most of which have traded for decades, require authorization from the Commodity Futures Trading Commission (CFTC). Product authorizations from the CFTC have no term limits.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Accounts receivable, allowance	$ 2.7	$ 2.2
Restricted cash, current	492.3	0
Accumulated depreciation and amortization, property	704.8	676.6
Restricted cash, noncurrent	$ 1.4	$ 2.4
Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000	10,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Class A Common Stock [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000	1,000,000
Common stock, shares issued (in shares)	339,435	339,235
Common stock, shares outstanding (in shares)	339,435	339,235
Class B Common Stock [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	3	3
Common stock, shares issued (in shares)	3	3
Common stock, shares outstanding (in shares)	3	3

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues
Clearing and transaction fees	$ 973.6	$ 792
Market data and information services	94.9	96.8
Access and communication fees	26	24.3
Other	14.5	16.2
Total Revenues	1,109	929.3
Expenses
Compensation and benefits	152.7	142.6
Communications	5.9	6.3
Technology support services	19.6	18.7
Professional fees and outside services	42.6	28.6
Amortization of purchased intangibles	23.7	24
Depreciation and amortization	28.1	29.4
Occupancy and building operations	20	20.1
Licensing and other fee agreements	49.5	33.8
Other	26	24.9
Total Expenses	368.1	328.4
Operating Income	740.9	600.9
Non-Operating Income (Expense)
Investment income	156.4	138.9
Interest and other borrowing costs	(30.1)	(29.8)
Equity in net earnings of unconsolidated subsidiaries	40.1	30.8
Other non-operating income (expense)	(118.6)	(33.8)
Total Non-Operating Income (Expense)	47.8	106.1
Income before Income Taxes	788.7	707
Income tax provision	189.9	307.2
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 598.8	$ 399.8
Earnings per Common Share:
Basic (in dollars per share)	$ 1.76	$ 1.18
Diluted (in dollars per share)	$ 1.76	$ 1.18
Weighted Average Number of Common Shares:
Basic (in shares)	339,305	338,339
Diluted (in shares)	340,747	339,946

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 598.8	$ 399.8
Other comprehensive income (loss), net of tax:
Net unrealized holding gains (losses) arising during the period	(0.9)	29.4
Reclassification of net (gains) losses on sales included in investment income	0	(87.1)
Income tax benefit (expense)	0.2	76.6
Investment securities, net	(0.7)	18.9
Net change in defined benefit plans arising during the period	1.7	0.4
Amortization of net actuarial (gains) losses included in compensation and benefits expense	0.7	0.7
Income tax benefit (expense)	(0.6)	(0.4)
Defined benefit plans, net	1.8	0.7
Amortization of effective portion of net (gains) losses on cash flow hedges included in interest expense	(0.3)	(0.3)
Income tax benefit (expense)	0.1	0.1
Derivative investments, net	(0.2)	(0.2)
Foreign currency translation adjustments	0.9	8.4
Income tax benefit (expense)	0	(2.9)
Foreign currency translation, net	0.9	5.5
Other comprehensive income (loss), net of tax	1.8	24.9
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ 600.6	$ 424.7

Consolidated Statements Of Shar

Consolidated Statements Of Shareholders' Equity - USD ($) shares in Thousands, $ in Millions	Total	Common Stock And Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Class A Common Stock [Member]	Class A Common Stock [Member]Common Stock And Additional Paid-In Capital [Member]	Class B Common Stock [Member]	Class B Common Stock [Member]Common Stock And Additional Paid-In Capital [Member]
Balance (in shares) at Dec. 31, 2016						338,240		3
Balance at December 31, 2017 at Dec. 31, 2016	$ 20,340.7	$ 17,830.3	$ 2,524.5	$ (14.1)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	399.8		399.8
Other comprehensive income (loss), net of tax	24.9			24.9
Dividends on common stock	(224.2)		(224.2)
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	(0.8)	1.4	(2.2)
Exercise of stock options (in shares)						113
Exercise of stock options	10.5	10.5
Vesting of issued restricted Class A common stock, in shares						153
Vesting of issued restricted Class A common stock	(11.6)	(11.6)
Stock-based compensation	14.9	14.9
Balance (in shares) at Mar. 31, 2017						338,506		3
Balance at March 31, 2018 at Mar. 31, 2017	20,554.2	17,845.5	2,697.9	10.8
Balance (in shares) at Dec. 31, 2017					339,235	339,235	3	3
Balance at December 31, 2017 at Dec. 31, 2017	22,411.8	17,900.3	4,497.2	14.3
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	598.8		598.8
Other comprehensive income (loss), net of tax	1.8			1.8
Dividends on common stock	(238.1)		(238.1)
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	(8.7)		(12.5)	3.8
Exercise of stock options (in shares)						59
Exercise of stock options	4.2	4.2
Vesting of issued restricted Class A common stock, in shares						141
Vesting of issued restricted Class A common stock	(14.7)	(14.7)
Stock-based compensation	17.7	17.7
Balance (in shares) at Mar. 31, 2018					339,435	339,435	3	3
Balance at March 31, 2018 at Mar. 31, 2018	$ 22,772.8	$ 17,907.5	$ 4,845.4	$ 19.9

Consolidated Statements Of Sha7

Consolidated Statements Of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Stockholders' Equity [Abstract]
Cash dividends on common stock, per share (in dollars per share)	$ 0.70	$ 0.66

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash Flows from Operating Activities
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 598.8	$ 399.8
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	17.7	14.9
Amortization of purchased intangibles	23.7	24
Depreciation and amortization	28.1	29.4
Gain on sale of BM&FBOVESPA shares	0	(86.5)
Reclassification from AOCI, Current Period, Tax	0	87.8
Undistributed earnings, net of losses, of unconsolidated subsidiaries	10.9	(4.3)
Deferred income taxes	(11.7)	2.2
Change in:
Accounts receivable	(85)	(61.5)
Other current assets	(12.9)	(9.3)
Other assets	(3.8)	7.7
Accounts payable	(6.4)	12.2
Income taxes payable	264.8	168.1
Other current liabilities	0.3	(67.8)
Other liabilities	(0.3)	2.6
Other	0.8	0.1
Net Cash Provided by (Used in) Operating Activities	825	519.4
Cash Flows from Investing Activities
Proceeds from maturities of available-for-sale marketable securities	1.6	0.5
Purchases of available-for-sale marketable securities	(0.8)	0
Purchases of available-for-sale marketable securities	(18.2)	(20)
Investments in business ventures	0	(0.3)
Proceeds from sale of BM&FBOVESPA shares	0	244
Net Cash Provided by (Used in) Investing Activities	(17.4)	224.2
Cash Flows from Financing Activities
Cash dividends	(1,424.8)	(1,322.6)
Proceeds from exercise of stock options	4.2	10.5
Payments Related to Tax Withholding for Share-based Compensation	(14.7)	(11.6)
Net Cash Used in Financing Activities	(1,435.3)	(1,323.7)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	(627.7)	(580.1)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, beginning balance	1,906	1,960.3
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, ending balance	1,278.3	1,380.2
Supplemental Disclosure of Cash Flow Information
Cash and cash equivalents	784.6	1,287.8
Restricted cash, current	492.3	30
Restricted cash, noncurrent	1.4	62.4
Income taxes paid	8.8	10.1
Interest paid	42.4	42.4
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, ending balance	$ 1,278.3	$ 1,380.2

Basis Of Presentation

Basis Of Presentation	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis Of Presentation	Basis of Presentation The consolidated financial statements consist of CME Group Inc. (CME Group) and its subsidiaries (collectively, the company), including Chicago Mercantile Exchange Inc. (CME), Board of Trade of the City of Chicago, Inc. (CBOT), New York Mercantile Exchange, Inc. (NYMEX), and Commodity Exchange, Inc. (COMEX). CME, CBOT, NYMEX, COMEX and their subsidiaries are referred to collectively as “the exchange” in the notes to the consolidated financial statements. The clearing house is a division of CME. The accompanying interim consolidated financial statements have been prepared by CME Group without audit. Certain notes and other information normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted. In the opinion of management, the accompanying consolidated financial statements include all normal recurring adjustments considered necessary to present fairly the financial position of the company at March 31, 2018 and December 31, 2017 and the results of operations and cash flows for the periods indicated. Quarterly results are not necessarily indicative of results for any subsequent period. The accompanying consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto in CME Group’s Annual Report on Form 10-K for the year ended December 31, 2017 , filed with the Securities and Exchange Commission (SEC) on February 28, 2018.

Accounting Policies (Notes)

Accounting Policies (Notes)	3 Months Ended
	Mar. 31, 2018
Accounting Changes and Error Corrections [Abstract]
Accounting Changes [Text Block]	Accounting Policies Newly Adopted Accounting Policies. In May 2014, the Financial Accounting Standards Board (FASB) issued a new standard on revenue recognition that replaces numerous, industry-specific requirements and converges U.S. accounting standards with International Financial Reporting Standards. The new standard introduces a framework for recognizing revenue that focuses on the transfer of control rather than risks and rewards. The new standard also requires significant additional disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments, changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. The company implemented this standard as of January 1, 2018 using the modified retrospective approach with the cumulative effect of initially applying the guidance recognized at the date of initial adoption. Management recognized an $8.7 million reduction to the opening balance of retained earnings as of January 1, 2018, which it believes to be an immaterial impact to the consolidated financial statements. The adjustment to the opening balance of retained earnings primarily relates to a deferral of a portion of clearing and transaction fees revenue earned and recognized subsequent to the contract trade execution date. The on-going application of the new standard is not expected to have a material impact on the company's financial statements. In January 2016, the FASB issued a standards update that will change how entities measure certain equity investments. It does not change the guidance for classifying and measuring investments in debt securities and loans. Under the new guidance, entities will have to measure many equity investments at fair value and recognize any changes in fair value in net income, unless the investments qualify for a practicability exception. Entities will no longer be able to recognize unrealized holding gains and losses on equity securities classified today as available for sale in other comprehensive income. For equity investments in privately held entities that do not have a readily determinable fair value, our accounting policy is to utilize the measurement alternative for valuation of these investments, which permits the company to estimate fair value at cost minus impairment, plus or minus changes resulting from observable price changes. Adoption of this guidance on January 1, 2018 did not result in an adjustment to the financial statements as our investment portfolio consists primarily of debt securities, to which this accounting standards update does not apply. In November 2016, the FASB issued a standards update aimed at promoting consistency in the classification and presentation of changes in restricted cash on the statement of cash flows. Previously, there was diversity in practice as to whether the change in restricted cash was included in the reconciliation of beginning-of-period and end-of-period total cash amounts shown on the statement of cash flows. The amendments require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, as well as amounts described as restricted cash on the balance sheet. This guidance was adopted on January 1, 2018 using the retrospective approach. The statements of cash flows shows a change in our cash balances in the amount of $627.7 million and $580.1 million for the quarters ended March 31, 2018 and 2017, respectively. In March 2017, the FASB issued a standards update that will change certain presentation and disclosure requirements for employers that sponsor defined benefit pension as well as other postretirement benefit plans. Under current accounting rules, defined benefit pension cost and postretirement benefit cost (net benefit cost) comprise several components that reflect different aspects of an employer’s financial arrangements as well as the cost of benefits provided to the employees. Those components are aggregated for reporting in the financial statements within compensation and benefits on the consolidated statement of income. The amendments in the update require that the service cost component is reported in the same line as other compensation costs, whereas the other components of net benefit cost are required to be presented on the consolidated statement of income separately from the service cost component. This update was adopted as of January 1, 2018 with retrospective application to the earliest period presented. For the quarters ended March 31, 2018 and 2017, the company recognized total net pension expense of $2.5 million and $4.3 million , respectively. Total net pension expense includes service cost of $4.7 million and $4.6 million , which is recorded in compensation and benefits on the consolidated statements of income for the quarters ended March 31, 2018 and 2017, respectively. The other components of total net pension expense were recognized as income within other non-operating income (expense) in the amount of $2.2 million and $0.3 million for the quarters ended March 31, 2018 and 2017, respectively. Total net pension expense remains unchanged upon adoption of the standards update. In February 2018, the FASB issued guidance that gives entities the option to reclassify to retained earnings the tax effects related to items in accumulated other comprehensive income (AOCI) that were previously stranded within AOCI as a result of applying the Tax Cuts and Jobs Act (2017 Tax Act). An entity that elects to reclassify these amounts must reclassify stranded tax effects related to the change in federal tax rate for all items accounted for within AOCI. Entities can also elect to reclassify other stranded tax effects that relate to the 2017 Tax Act but do not directly relate to the change in federal rate. Tax effects that are stranded in AOCI for other reasons may not be reclassified. These amendments should be applied either in the period of adoption as a cumulative adjustment to the opening balance of retained earnings or retrospectively to each period in which the effect of the 2017 Tax Act is recognized. This guidance is effective for entities with fiscal years beginning after December 15, 2018. The company early adopted this guidance as of January 1, 2018, resulting in an adjustment in the amount of $3.8 million to reduce beginning retained earnings and increase AOCI. Tax effects from previously stranded items are released from AOCI when the entire portfolio of similar items is liquidated. Recently Issued Accounting Pronouncements. In February 2016, the FASB issued a standards update that requires lessees to recognize on the balance sheet the assets and liabilities associated with the rights and obligations created by those leases. The guidance for lessors is largely unchanged from current U.S. GAAP. Under the new guidance, a lessee will be required to recognize assets and liabilities for leases with lease terms of more than 12 months. Consistent with current U.S. GAAP, the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. The update is effective for reporting periods beginning after December 15, 2018. Early adoption is permitted. Adoption of the guidance in 2019 will result in the gross-up of our balance sheet to reflect the present value of the lease payments over the lease term and offsetting lease liability at the lease commencement date. Presentation of lease expense and the pattern of expense recognition on the consolidated statement of income is expected to remain materially consistent with existing lease accounting guidance. In June 2016, the FASB issued guidance that changes how credit losses are measured for most financial assets measured at amortized cost and certain other instruments. The standard requires an entity to estimate its lifetime expected credit loss and record an allowance, that when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. This forward-looking expected loss model generally will result in the earlier recognition of allowances for losses. The standard also amends the impairment model for available for sale debt securities and requires entities to determine whether all or a portion of the unrealized loss on an available for sale debt security is a credit loss. Severity and duration of the unrealized loss are no longer permissible factors in concluding whether a credit loss exists. Entities will recognize improvements to estimated credit losses on available for sale debt securities immediately in earnings rather than as interest income over time. The standard is effective for reporting periods beginning after December 15, 2019. The standard’s provisions must be applied as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. Early adoption is permitted for reporting periods beginning in 2019. The company does not believe that the adoption of this guidance in 2020 will have a material impact on the consolidated financial statements. In August 2017, the FASB issued a standards update that amends the existing hedge accounting model to enable entities to better reflect their risk management activities in the financial statements. The amendments expand an entity’s ability to hedge nonfinancial and financial risk components and reduce complexity in fair value hedges of interest rate risk. The guidance eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item. The guidance also eases certain documentation and assessment requirements and modifies the accounting for components excluded from the assessment of hedge effectiveness. The guidance is effective for fiscal years beginning after December 15, 2018. Early adoption is permitted. The company does not believe that the adoption of this standard will have a material impact on the consolidated financial statements.

Revenue Recognition (Notes)

Revenue Recognition (Notes)	3 Months Ended
	Mar. 31, 2018
Revenue Recognition [Abstract]
Revenue Recognition, Deferred Revenue [Policy Text Block]	Revenue Recognition Revenue from Contracts with Customers. The majority of our revenue is driven by clearing and transaction fees. We account for revenue in accordance with “Revenue from Contracts with Customers,” which we adopted on January 1, 2018, using the modified retrospective approach. The new standard introduces a framework for recognizing revenue that focuses on the transfer of control rather than risks and rewards. We have recognized a one-time adjustment of $8.7 million within the opening balance of retained earnings as of January 1, 2018 as a result of adopting this standard. This deferral of revenue is primarily related to the outstanding performance obligations for clearing and transaction fees for our longer-term cleared swap products. Clearing and transaction fees . Clearing and transaction fees include electronic trading fees, surcharges for privately negotiated transactions, and other volume-related charges for exchange-traded and cleared swaps contracts. Clearing and transaction fees are assessed upfront at the time of trade execution. As such, we recognize the majority of the fee revenue upon successful execution of the trade. The minimal remaining portion of the fee revenue related to clearing activities performed after the trade execution is recognized over the short-term period that the contract is outstanding, based on management’s estimates of the average contract lifecycle. These estimates are based on various assumptions to approximate the amount of fee revenue to be attributed to services performed through contract settlement, expiration, or termination. These assumptions include the average number of days that a contract remains in open interest, contract turnover, average revenue per day, and revenue remaining in open interest at the end of each period. The nature of our contracts gives rise to several types of variable consideration, including incentive tiers, incentives associated with market maker programs and other fee discounts. We include fee discounts and incentives in the estimated transaction price when there is a basis to reasonably estimate the amount of the fee. These estimates are based on historical experience, anticipated performance, and our best judgment at the time. Because of our certainty in estimating these amounts, they are included in the transaction price of our contracts. Market data and information services. Market data and information services fees represents revenue from the dissemination of our market data to subscribers, distributors, and other third-party licensees of our market data. Pricing for market data is primarily based on the number of reportable devices used as well as the number of subscribers enrolled under the arrangement. Fees for these services are generally billed monthly. Market data services are satisfied over time and revenue is recognized on a monthly basis as the customers receive and consume the benefit of the market data services. However, we also maintain certain annual license arrangements with one-time upfront fees. The fees for annual licenses are initially recorded as a contract liability and recognized as revenue monthly over the term of the annual period. Access and communication fees. Access and communication fees are charges to members and clearing firms that utilize our various telecommunications networks and communications services. Fees for these services are generally billed monthly. These services are satisfied over time and revenue is recognized on a monthly basis as the customers receive and consume the benefit of the services. Other. Other revenues include fees for collateral management, fees for trade order routing through agreements from various strategic relationships, as well as other services to members and clearing firms. Collateral management fees are charged to clearing firms that have collateral on deposit with CME to meet their minimum performance bond and guaranty fund obligations. These fees are calculated based on daily collateral balances and billed monthly. This fee revenue is recognized as billed as the customers receive and consume the benefits of the services. Pricing for strategic relationships may be driven by customer levels and activity. There are fee arrangements which provide for monthly as well as quarterly payments in arrears. Revenue is recognized monthly for strategic relationships arrangements as the customers receive and consume the benefits of the services. The following table represents a disaggregation of revenue from contracts with customers for the quarters ended March 31, 2018 and 2017: Quarter Ended March 31, (in millions) 2018 2017 Interest rate $ 338.4 $ 279.6 Equity 195.0 123.1 Foreign exchange 51.1 45.6 Agricultural commodity 121.1 104.4 Energy 191.5 174.6 Metal 59.4 47.4 Interest rate swap and credit default swap 17.1 17.3 Total clearing and transaction fees 973.6 792.0 Market data and information services 94.9 96.8 Access and communication fees 26.0 24.3 Other 14.5 16.2 Total revenues $ 1,109.0 $ 929.3 Timing of Revenue Recognition Services transferred at a point in time 957.7 777.1 Services transferred over time 148.8 148.6 One-time charges and miscellaneous revenues 2.5 3.6 Total revenues $ 1,109.0 $ 929.3 The timing of revenue recognition, billings and cash collections results in billed accounts receivable, and customer advances and deposits (contract liabilities) on the consolidated balance sheets. Certain fees for transactions, annual licenses, and other revenue arrangements are billed upfront before revenue is recognized, which results in the recognition of contract liabilities. These liabilities are reported on the consolidated balance sheets on a contract-by-contract basis at the end of each reporting period. For our annual licenses and upfront fee arrangements, we generally bill customers upon contract execution. These payments are recognized as revenue over time as the obligations under the contracts are satisfied. Changes in the contract liability balances during the quarter ended March 31, 2018, were not materially impacted by any other factors. The balance of contract liabilities is $29.7 million and $3.9 million as of March 31, 2018 and December 31, 2017 respectively. As part of our adoption of the new revenue guidance in the first quarter of 2018, we have elected to use the package of practical expedients available under the standard. This guidance has been applied only to contracts that are not completed at the date of initial application on January 1, 2018. We have not restated completed contracts that begin and end in the same annual reporting period. In addition, we have excluded disclosures of transaction prices allocated to remaining performance obligations and when we expect to recognize such revenue for reporting periods presented before the date of initial application. As our material contracts have an original expected duration of one year or less, we utilized the practical expedient which does not require disclosure of the aggregate amount of the transaction price, including variable consideration, which is allocated to performance obligations that are unsatisfied as of the end of the reporting period.

Performance Bonds and Guaranty

Performance Bonds and Guaranty Fund Contributions (Notes)	3 Months Ended
	Mar. 31, 2018
Performance Bonds and Guaranty Fund Contributions [Abstract]
Performance Bonds and Guaranty Fund Contributions	Performance Bonds and Guaranty Fund Contributions Performance Bonds and Guaranty Fund Contributions. CME has been designated as a systemically important financial market utility by the Financial Stability Oversight Council and is authorized to establish and maintain a cash account at the Federal Reserve Bank of Chicago. At March 31, 2018 , CME maintained $29.7 billion within the cash account at the Federal Reserve Bank of Chicago. At March 31, 2018, performance bonds and guaranty fund contribution assets on the consolidated balance sheets also included U.S. Treasury securities with maturity dates of 90 days or less. U.S. Treasury securities are purchased by CME, at its discretion, using cash collateral. The benefits, including interest earned, and risks of ownership accrue to CME. Interest earned is included in investment income on the consolidated statements of income. At March 31, 2018 , the amortized cost and fair value of the U.S. Treasury securities were $547.8 million and $547.9 million , respectively. Clearing House Contract Settlement. The clearing house marks-to-market open positions for all futures and options contracts twice a day (once a day for CME's cleared-only credit default swap (CDS) and interest rate swap contracts). Based on values derived from the mark-to-market process, the clearing house requires payments from clearing firms whose positions have lost value and make payments to clearing firms whose positions have gained value. Under the extremely unlikely scenario of simultaneous default by every clearing firm who has open positions with unrealized losses, the maximum exposure related to positions other than cleared-only credit default and interest rate swap contracts would be one half day of changes in fair value of all open positions, before considering the clearing houses' ability to access defaulting clearing firms' collateral deposits. For CME's cleared-only CDS and interest rate swap contracts, the maximum exposure related to CME's guarantee would be one full day of changes in fair value of all open positions, before considering CME's ability to access defaulting clearing firms' collateral. CME exited the CDS clearing business in March 2018. During the first quarter of 2018, the clearing house transferred an average of approximately $3.8 billion a day through its clearing systems for settlement from clearing firms whose positions had lost value to clearing firms whose positions had gained value. The clearing house reduces its guarantee exposure through initial and maintenance performance bond requirements and mandatory guaranty fund contributions. The company believes that its guarantee liability is immaterial and therefore has not recorded any liability at March 31, 2018 .

Intangible Assets And Goodwill

Intangible Assets And Goodwill	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets And Goodwill	Intangible Assets Intangible assets consisted of the following at March 31, 2018 and December 31, 2017 : March 31, 2018 December 31, 2017 (in millions) Assigned Value Accumulated Amortization Net Book Value Assigned Value Accumulated Amortization Net Book Value Amortizable Intangible Assets: Clearing firm, market data and other customer relationships $ 2,838.8 $ (967.4 ) $ 1,871.4 $ 2,838.8 $ (943.7 ) $ 1,895.1 Technology-related intellectual property 29.4 (29.4 ) — 29.4 (29.4 ) — Other 2.4 (1.2 ) 1.2 2.4 (1.2 ) 1.2 Total amortizable intangible assets $ 2,870.6 $ (998.0 ) 1,872.6 $ 2,870.6 $ (974.3 ) 1,896.3 Indefinite-Lived Intangible Assets: Trade names 450.0 450.0 Total intangible assets – other, net $ 2,322.6 $ 2,346.3 Trading products (1) $ 17,175.3 $ 17,175.3 (1) Trading products represent futures and options products acquired in our business combinations with CBOT Holdings, Inc., NYMEX Holdings, Inc. and The Board of Trade of Kansas City, Missouri, Inc. Clearing and transaction fees are generated through the trading of these products. These trading products, most of which have traded for decades, require authorization from the Commodity Futures Trading Commission (CFTC). Product authorizations from the CFTC have no term limits. Total amortization expense for intangible assets was $23.7 million and $ 24.0 million for the quarters ended March 31, 2018 and 2017 , respectively. As of March 31, 2018 , the future estimated amortization expense related to amortizable intangible assets is expected to be as follows: (in millions) Amortization Expense Remainder of 2018 $ 71.0 2019 94.7 2020 94.7 2021 94.7 2022 94.7 2023 94.7 Thereafter 1,328.1

Debt

Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Debt	Debt Long-term debt consisted of the following at March 31, 2018 and December 31, 2017 : (in millions) March 31, 2018 December 31, 2017 $750.0 million fixed rate notes due September 2022, stated rate of 3.00% (1) $ 746.2 $ 746.0 $750.0 million fixed rate notes due March 2025, stated rate of 3.00% (2) 745.1 744.9 $750.0 million fixed rate notes due September 2043, stated rate of 5.30% (3) 742.2 742.2 Total long-term debt $ 2,233.5 $ 2,233.1 (1) In August 2012, the company entered into a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 3.32% . (2) In December 2014, the company entered into a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 3.11% . (3) In August 2012, the company entered into a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 4.73% . Long-term debt maturities, at par value, were as follows at March 31, 2018 : (in millions) Par Value 2019 $ — 2020 — 2021 — 2022 750.0 2023 — Thereafter 1,500.0

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2018
Loss Contingency [Abstract]
Contingencies	Contingencies Legal and Regulatory Matters. In 2013, the CFTC filed suit against NYMEX and two former employees alleging disclosure of confidential customer information in violation of the Commodity Exchange Act. NYMEX’s motion to dismiss was denied in 2014. Based on its investigation to date and advice from legal counsel, the company believes that it has strong factual and legal defenses to the claim. In 2003, the U.S. Futures Exchange, L.L.C. (Eurex U.S.) and U.S. Exchange Holdings, Inc. filed suit in federal court alleging that CBOT and CME violated the antitrust laws and tortuously interfered with the business relationship and contract between Eurex U.S. and The Clearing Corporation. On April 27, 2018, the Court informed the parties that it has reached a preliminary decision to grant CBOT's and CME's motion for summary judgment on the antitrust claims. The Court is expected to issue a written decision finalizing that decision and dismissing the entire case. In the meantime, the previously set trial date has been vacated. In the normal course of business, the company discusses matters with its regulators raised during regulatory examinations or otherwise subject to their inquiry and oversight. These matters could result in censures, fines, penalties or other sanctions. Management believes the outcome of any resulting actions will not have a material impact on its consolidated financial position or results of operations. However, the company is unable to predict the outcome or the timing of the ultimate resolution of these matters, or the potential fines, penalties or injunctive or other equitable relief, if any, that may result from these matters. In addition, the company is a defendant in, and has potential for, various other legal proceedings arising from its regular business activities. While the ultimate results of such proceedings against the company cannot be predicted with certainty, the company believes that the resolution of any of these matters on an individual or aggregate basis will not have a material impact on its consolidated financial position or results of operations. No accrual was required for legal and regulatory matters that were probable and estimable as of March 31, 2018 and December 31, 2017 . Intellectual Property Indemnifications . Certain agreements with customers and other third parties related to accessing the CME platforms, utilizing market data services and licensing CME SPAN software may contain indemnifications from intellectual property claims that may be made against them as a result of their use of the applicable products and/or services. The potential future claims relating to these indemnifications cannot be estimated and therefore no liability has been recorded.

Guarantees

Guarantees	3 Months Ended
	Mar. 31, 2018
Guarantees [Abstract]
Guarantees	Guarantees Mutual Offset Agreement. CME and Singapore Exchange Limited (SGX) have a mutual offset agreement with a current term through October 2018. This agreement enables market participants to open a futures position on one exchange and liquidate it on the other. The term of the agreement will automatically renew for a one -year period unless either party provides advance notice of their intent to terminate. CME can maintain collateral in the form of U.S. Treasury securities or irrevocable, standby letters of credit. At March 31, 2018 , CME was contingently liable to SGX on letters of credit totaling $285.0 million . Regardless of the collateral, CME guarantees all cleared transactions submitted through SGX and would initiate procedures designed to satisfy these financial obligations in the event of a default, such as the use of performance bonds and guaranty fund contributions of the defaulting clearing firm. The company believes that its guarantee liability is immaterial and therefore has not recorded any liability at March 31, 2018 . Family Farmer and Rancher Protection Fund. In 2012, the company established the Family Farmer and Rancher Protection Fund (the Fund). The Fund is designed to provide payments, up to certain maximum levels, to family farmers, ranchers and other agricultural industry participants who use the company's agricultural commodity products and who suffer losses to their segregated account balances due to their CME clearing member becoming insolvent. Under the terms of the Fund, farmers and ranchers are eligible for up to $25,000 per participant. Farming and ranching cooperatives are eligible for up to $100,000 per cooperative. The Fund was established with a maximum of $100.0 million available for distribution to participants. Since its establishment, the Fund has made payments of approximately $2.0 million , which leaves $98.0 million available for future claims. If, at any time, payments due to participants were to exceed the amount remaining in the fund, payments would be pro-rated. Clearing members and customers must register with the company in advance and provide certain documentation in order to substantiate their eligibility. The company believes that its guarantee liability is immaterial and therefore has not recorded any liability at March 31, 2018 .

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Notes)	3 Months Ended
	Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The following tables present changes in the accumulated balances for each component of other comprehensive income (loss), including current period other comprehensive income (loss) and reclassifications out of accumulated other comprehensive income (loss): (in millions) Investment Securities Defined Benefit Plans Derivative Investments Foreign Currency Translation Total Balance at December 31, 2017 $ 0.6 $ (36.1 ) $ 58.0 $ (8.2 ) $ 14.3 Other comprehensive income (loss) before reclassifications and income tax benefit (expense) (0.9 ) 1.7 — 0.9 1.7 Amounts reclassified from accumulated other comprehensive income (loss) — 0.7 (0.3 ) — 0.4 Income tax benefit (expense) 0.2 (0.6 ) 0.1 — (0.3 ) Net current period other comprehensive income (loss) (0.7 ) 1.8 (0.2 ) 0.9 1.8 Impact of adoption of standards update on tax effects related to accumulated other comprehensive income 0.1 (8.2 ) 11.9 — 3.8 Balance at March 31, 2018 $ — $ (42.5 ) $ 69.7 $ (7.3 ) $ 19.9 (in millions) Investment Securities Defined Benefit Plans Derivative Investments Foreign Currency Translation Total Balance at December 31, 2016 $ (19.5 ) $ (37.8 ) $ 58.9 $ (15.7 ) $ (14.1 ) Other comprehensive income (loss) before reclassifications and income tax benefit (expense) 29.4 0.4 — 8.4 38.2 Amounts reclassified from accumulated other comprehensive income (loss) (87.1 ) 0.7 (0.3 ) — (86.7 ) Income tax benefit (expense) 76.6 (0.4 ) 0.1 (2.9 ) 73.4 Net current period other comprehensive income (loss) 18.9 0.7 (0.2 ) 5.5 24.9 Balance at March 31, 2017 $ (0.6 ) $ (37.1 ) $ 58.7 $ (10.2 ) $ 10.8

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]
Fair Value Measurements	Fair Value Measurements The company uses a three-level classification hierarchy of fair value measurements for disclosure purposes. • Level 1 inputs, which are considered the most reliable evidence of fair value, consist of quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 inputs consist of observable market data, such as quoted prices for similar assets and liabilities in active markets, or inputs other than quoted prices that are directly observable. • Level 3 inputs consist of unobservable inputs which are derived and cannot be corroborated by market data or other entity-specific inputs. Level 1 assets generally include investments in publicly traded mutual funds, equity securities and corporate debt securities with quoted market prices. In general, the company uses quoted prices in active markets for identical assets to determine the fair value of marketable securities and equity investments. If quoted prices are not available to determine fair value, the company uses other inputs that are directly observable. Assets included in level 2 generally consist of asset-backed securities. Asset-backed securities were measured at fair value based on matrix pricing using prices of similar securities with similar inputs such as maturity dates, interest rates and credit ratings. Level 2 assets also include a foreign exchange option contract. The company is using the foreign exchange option to mitigate certain exposure to foreign exchange rate fluctuation on anticipated currency required to facilitate the previously announced acquisition of NEX Group plc. The foreign exchange option was measured at fair value based on similar assets with similar inputs. Financial assets recorded in the consolidated balance sheet as of March 31, 2018 were classified in their entirety based on the lowest level of input that was significant to each asset's fair value measurement. There were no liabilities that were measured at fair value as of March 31, 2018 . The following tables present financial instruments measured at fair value on a recurring basis: March 31, 2018 (in millions) Level 1 Level 2 Level 3 Total Assets at Fair Value: Marketable securities: Corporate debt securities $ 19.2 $ — $ — $ 19.2 Mutual funds 70.8 — — 70.8 Equity securities 0.1 — — 0.1 Asset-backed securities — 0.3 — 0.3 Total Marketable Securities 90.1 0.3 — 90.4 Performance bonds and guaranty fund contributions (1) : U.S. Treasury securities 547.9 — — 547.9 Foreign exchange option contract — 30.0 — 30.0 Total Assets at Fair Value $ 638.0 $ 30.3 $ — $ 668.3 (1) Performance bonds and guaranty fund contributions on the consolidated balance sheet at March 31, 2018 include cash collateral that has been invested in U.S. Treasury securities. There were no transfers of assets or liabilities between level 1, level 2 and level 3 during the first quarter of 2018 . There were no level 3 assets or liabilities valued at fair value on a recurring or non-recurring basis during the first quarter of 2018. The following presents the estimated fair values of long-term debt notes, which are carried at amortized cost on the consolidated balance sheets. The fair values, which are classified as level 2 under the fair value hierarchy, were estimated using quoted market prices. At March 31, 2018 , the fair values were as follows: (in millions) Fair Value $750.0 million fixed rate notes due September 2022, stated rate of 3.00% $ 743.2 $750.0 million fixed rate notes due March 2025, stated rate of 3.00% 729.6 $750.0 million fixed rates notes due September 2043, stated rate of 5.30% 911.1

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share is computed by dividing net income by the weighted average number of shares of all classes of CME Group common stock outstanding for each reporting period. Diluted earnings per share reflects the increase in shares using the treasury stock method to reflect the impact of an equivalent number of shares of common stock if stock options were exercised and restricted stock awards were converted into common stock. Anti-dilutive stock options, restricted stock and performance share awards were as follows for the periods presented: Quarter Ended (in thousands) 2018 2017 Stock options — — Restricted stock and performance shares 49 80 Total 49 80 The following table presents the earnings per share calculation for the periods presented: Quarter Ended 2018 2017 Net Income (in millions) $ 598.8 $ 399.8 Weighted Average Number of Common Shares (in thousands): Basic 339,305 338,339 Effect of stock options, restricted stock and performance shares 1,442 1,607 Diluted 340,747 339,946 Earnings per Common Share: Basic $ 1.76 $ 1.18 Diluted 1.76 1.18

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The company has evaluated subsequent events through the date the financial statements were issued. The company has determined that there were no subsequent events.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue Recognition [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table represents a disaggregation of revenue from contracts with customers for the quarters ended March 31, 2018 and 2017: Quarter Ended March 31, (in millions) 2018 2017 Interest rate $ 338.4 $ 279.6 Equity 195.0 123.1 Foreign exchange 51.1 45.6 Agricultural commodity 121.1 104.4 Energy 191.5 174.6 Metal 59.4 47.4 Interest rate swap and credit default swap 17.1 17.3 Total clearing and transaction fees 973.6 792.0 Market data and information services 94.9 96.8 Access and communication fees 26.0 24.3 Other 14.5 16.2 Total revenues $ 1,109.0 $ 929.3 Timing of Revenue Recognition Services transferred at a point in time 957.7 777.1 Services transferred over time 148.8 148.6 One-time charges and miscellaneous revenues 2.5 3.6 Total revenues $ 1,109.0 $ 929.3

Intangible Assets And Goodwill

Intangible Assets And Goodwill (Tables)	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Components of intangible assets	Intangible assets consisted of the following at March 31, 2018 and December 31, 2017 : March 31, 2018 December 31, 2017 (in millions) Assigned Value Accumulated Amortization Net Book Value Assigned Value Accumulated Amortization Net Book Value Amortizable Intangible Assets: Clearing firm, market data and other customer relationships $ 2,838.8 $ (967.4 ) $ 1,871.4 $ 2,838.8 $ (943.7 ) $ 1,895.1 Technology-related intellectual property 29.4 (29.4 ) — 29.4 (29.4 ) — Other 2.4 (1.2 ) 1.2 2.4 (1.2 ) 1.2 Total amortizable intangible assets $ 2,870.6 $ (998.0 ) 1,872.6 $ 2,870.6 $ (974.3 ) 1,896.3 Indefinite-Lived Intangible Assets: Trade names 450.0 450.0 Total intangible assets – other, net $ 2,322.6 $ 2,346.3 Trading products (1) $ 17,175.3 $ 17,175.3 (1) Trading products represent futures and options products acquired in our business combinations with CBOT Holdings, Inc., NYMEX Holdings, Inc. and The Board of Trade of Kansas City, Missouri, Inc. Clearing and transaction fees are generated through the trading of these products. These trading products, most of which have traded for decades, require authorization from the Commodity Futures Trading Commission (CFTC). Product authorizations from the CFTC have no term limits
Future estimated amortization expense	As of March 31, 2018 , the future estimated amortization expense related to amortizable intangible assets is expected to be as follows: (in millions) Amortization Expense Remainder of 2018 $ 71.0 2019 94.7 2020 94.7 2021 94.7 2022 94.7 2023 94.7 Thereafter 1,328.1

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule Of Short-Term And Long-Term Debt	Long-term debt consisted of the following at March 31, 2018 and December 31, 2017 : (in millions) March 31, 2018 December 31, 2017 $750.0 million fixed rate notes due September 2022, stated rate of 3.00% (1) $ 746.2 $ 746.0 $750.0 million fixed rate notes due March 2025, stated rate of 3.00% (2) 745.1 744.9 $750.0 million fixed rate notes due September 2043, stated rate of 5.30% (3) 742.2 742.2 Total long-term debt $ 2,233.5 $ 2,233.1 (1) In August 2012, the company entered into a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 3.32% . (2) In December 2014, the company entered into a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 3.11% . (3) In August 2012, the company entered into a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 4.73% .
Long-term debt maturities at par value	Long-term debt maturities, at par value, were as follows at March 31, 2018 : (in millions) Par Value 2019 $ — 2020 — 2021 — 2022 750.0 2023 — Thereafter 1,500.0

Accumulated Other Comprehensi24

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following tables present changes in the accumulated balances for each component of other comprehensive income (loss), including current period other comprehensive income (loss) and reclassifications out of accumulated other comprehensive income (loss): (in millions) Investment Securities Defined Benefit Plans Derivative Investments Foreign Currency Translation Total Balance at December 31, 2017 $ 0.6 $ (36.1 ) $ 58.0 $ (8.2 ) $ 14.3 Other comprehensive income (loss) before reclassifications and income tax benefit (expense) (0.9 ) 1.7 — 0.9 1.7 Amounts reclassified from accumulated other comprehensive income (loss) — 0.7 (0.3 ) — 0.4 Income tax benefit (expense) 0.2 (0.6 ) 0.1 — (0.3 ) Net current period other comprehensive income (loss) (0.7 ) 1.8 (0.2 ) 0.9 1.8 Impact of adoption of standards update on tax effects related to accumulated other comprehensive income 0.1 (8.2 ) 11.9 — 3.8 Balance at March 31, 2018 $ — $ (42.5 ) $ 69.7 $ (7.3 ) $ 19.9 (in millions) Investment Securities Defined Benefit Plans Derivative Investments Foreign Currency Translation Total Balance at December 31, 2016 $ (19.5 ) $ (37.8 ) $ 58.9 $ (15.7 ) $ (14.1 ) Other comprehensive income (loss) before reclassifications and income tax benefit (expense) 29.4 0.4 — 8.4 38.2 Amounts reclassified from accumulated other comprehensive income (loss) (87.1 ) 0.7 (0.3 ) — (86.7 ) Income tax benefit (expense) 76.6 (0.4 ) 0.1 (2.9 ) 73.4 Net current period other comprehensive income (loss) 18.9 0.7 (0.2 ) 5.5 24.9 Balance at March 31, 2017 $ (0.6 ) $ (37.1 ) $ 58.7 $ (10.2 ) $ 10.8

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]
Financial instruments measured at fair value on a recurring basis	The following tables present financial instruments measured at fair value on a recurring basis: March 31, 2018 (in millions) Level 1 Level 2 Level 3 Total Assets at Fair Value: Marketable securities: Corporate debt securities $ 19.2 $ — $ — $ 19.2 Mutual funds 70.8 — — 70.8 Equity securities 0.1 — — 0.1 Asset-backed securities — 0.3 — 0.3 Total Marketable Securities 90.1 0.3 — 90.4 Performance bonds and guaranty fund contributions (1) : U.S. Treasury securities 547.9 — — 547.9 Foreign exchange option contract — 30.0 — 30.0 Total Assets at Fair Value $ 638.0 $ 30.3 $ — $ 668.3 (1) Performance bonds and guaranty fund contributions on the consolidated balance sheet at March 31, 2018 include cash collateral that has been invested in U.S. Treasury securities.
Fair value of Debt Instruments	At March 31, 2018 , the fair values were as follows: (in millions) Fair Value $750.0 million fixed rate notes due September 2022, stated rate of 3.00% $ 743.2 $750.0 million fixed rate notes due March 2025, stated rate of 3.00% 729.6 $750.0 million fixed rates notes due September 2043, stated rate of 5.30% 911.1

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Anti-dilutive stock options, restricted stock and performance share awards were as follows for the periods presented: Quarter Ended (in thousands) 2018 2017 Stock options — — Restricted stock and performance shares 49 80 Total 49 80
Basic And Diluted Earnings Per Share	The following table presents the earnings per share calculation for the periods presented: Quarter Ended 2018 2017 Net Income (in millions) $ 598.8 $ 399.8 Weighted Average Number of Common Shares (in thousands): Basic 339,305 338,339 Effect of stock options, restricted stock and performance shares 1,442 1,607 Diluted 340,747 339,946 Earnings per Common Share: Basic $ 1.76 $ 1.18 Diluted 1.76 1.18

Accounting Policies (Details)

Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Jan. 01, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$ (627.7)	$ (580.1)
Defined Benefit Plan, Service Cost	4.7	4.6
defined benefit plan, non-operating income (expense)	2.2	0.3
Pension Cost (Reversal of Cost)	$ 2.5	$ 4.3
Accounting Standards Update 2018-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect of New Accounting Principle in Period of Adoption			$ 3.8
Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect of New Accounting Principle in Period of Adoption			$ 8.7

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Millions	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred Revenue	$ 29.7		$ 3.9
Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect of New Accounting Principle in Period of Adoption		$ 8.7

Revenue Recognition Disaggregat

Revenue Recognition Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Clearing and transaction fees	$ 973.6	$ 792
Market data and information services	94.9	96.8
Access and communication fees	26	24.3
Other	14.5	16.2
Revenues	1,109	929.3
Transferred at Point in Time [Member]
Revenues	957.7	777.1
Transferred over Time [Member]
Revenues	148.8	148.6
One-time charges and miscellaneous revenues [Member]
Revenues	2.5	3.6
Interest Rate [Member]
Clearing and transaction fees	338.4	279.6
Equities [Member]
Clearing and transaction fees	195	123.1
Foreign Exchange Contract [Member]
Clearing and transaction fees	51.1	45.6
Agricultural commodity [Member]
Clearing and transaction fees	121.1	104.4
Energy [Member]
Clearing and transaction fees	191.5	174.6
Metal [Member]
Clearing and transaction fees	59.4	47.4
Over the Counter [Member]
Clearing and transaction fees	$ 17.1	$ 17.3

Performance Bonds and Guarant30

Performance Bonds and Guaranty Fund Contributions (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Guarantor Obligations [Line Items]
Available-for-sale Securities, Amortized Cost Basis	$ 547.8
Available-for-sale Securities at Fair Value	547.9
Average Daily Clearing Settlement	3,800
Federal Reserve Reinvestment [Member]
Guarantor Obligations [Line Items]
Cash Equivalents, at Carrying Value	$ 29,700

Intangible Assets And Goodwil31

Intangible Assets And Goodwill (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of purchased intangibles	$ 23.7	$ 24

Intangible Assets And Goodwil32

Intangible Assets And Goodwill (Components Of Intangible Assets) (Details) - USD ($) $ in Millions		Mar. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived Intangible Assets		$ 2,322.6	$ 2,346.3
Other Indefinite-lived Intangible Assets	[1]	17,175.3	17,175.3
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived Intangible Assets		450	450
Clearing Firm, Market Data And Other Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross		2,838.8	2,838.8
Accumulated amortization		(967.4)	(943.7)
Net book value		1,871.4	1,895.1
Technology-Related Intellectual Property [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross		29.4	29.4
Accumulated amortization		(29.4)	(29.4)
Net book value		0	0
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross		2.4	2.4
Accumulated amortization		(1.2)	(1.2)
Net book value		1.2	1.2
Total Amortizable Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross		2,870.6	2,870.6
Accumulated amortization		(998)	(974.3)
Net book value		$ 1,872.6	$ 1,896.3
[1]	)Trading products represent futures and options products acquired in our business combinations with CBOT Holdings, Inc., NYMEX Holdings, Inc. and The Board of Trade of Kansas City, Missouri, Inc. Clearing and transaction fees are generated through the trading of these products. These trading products, most of which have traded for decades, require authorization from the Commodity Futures Trading Commission (CFTC). Product authorizations from the CFTC have no term limits.

Intangible Assets And Goodwil33

Intangible Assets And Goodwill (Future Estimated Amortization Expense) (Details) $ in Millions	Mar. 31, 2018USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2018	$ 71
2,019	94.7
2,020	94.7
2,021	94.7
2,022	94.7
2,023	94.7
Thereafter	$ 1,328.1

Debt (Schedule Of Short-Term An

Debt (Schedule Of Short-Term And Long-Term Debt) (Details) - USD ($) $ in Millions	1 Months Ended			3 Months Ended
	Mar. 31, 2015	Sep. 30, 2013	Sep. 30, 2012	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Long-term debt				$ 2,233.5	$ 2,233.1
Forward starting interest rate swap agreement fixed rate	3.11%	4.73%	3.32%
$750.0 million fixed rate notes due March 2025, stated rate of 3.00% [Member]
Debt Instrument [Line Items]
Long-term debt				745.1	744.9
Debt Instrument, Face Amount				$ 750
Debt Instrument, Maturity Date				Mar. 1, 2025
Debt Instrument, Interest Rate, Stated Percentage				3.00%
$750.0 million fixed rate notes due September 2043, stated rate of 5.30% [Member]
Debt Instrument [Line Items]
Long-term debt				$ 742.2	742.2
Debt Instrument, Face Amount				$ 750
Debt Instrument, Maturity Date				Sep. 1, 2043
Debt Instrument, Interest Rate, Stated Percentage				5.30%
$750.0 million fixed rate notes due September 2022, stated rate of 3.00% [Member]
Debt Instrument [Line Items]
Long-term debt				$ 746.2	$ 746
Debt Instrument, Face Amount				$ 750
Debt Instrument, Maturity Date				Sep. 1, 2022
Debt Instrument, Interest Rate, Stated Percentage				3.00%

Debt (Schedule Of Maturities Of

Debt (Schedule Of Maturities Of Long-Term Debt) (Details) $ in Millions	Mar. 31, 2018USD ($)
Debt Disclosure [Abstract]
2,019	$ 0
2,020	0
2,021	0
2,022	750
2,023	0
Thereafter	$ 1,500

Guarantees (Details)

Guarantees (Details)	3 Months Ended
	Mar. 31, 2018USD ($)years
Guarantor Obligations [Line Items]
Agreement automatic renewal period (in years) | years	1
Contingent liability to SGX, amount of irrevocable letters of credit	$ 285,000,000
Family Farmer and Ranchers Protection Fund [Member]
Guarantor Obligations [Line Items]
Payment per participant	25,000
Payment per cooperative	100,000
FutureLosses	100,000,000
Payments under Guarantee	2,000,000
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 98,000,000

Accumulated Other Comprehensi37

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Balance at December 31, 2017	$ 22,411.8	$ 20,340.7
Other comprehensive income (loss), net of tax	1.8	24.9
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	8.7	0.8
Balance at March 31, 2018	22,772.8	20,554.2
Accumulated Other Comprehensive Income (Loss) [Member]
Balance at December 31, 2017	14.3	(14.1)
Comprehensive Income Before Reclassification Adjustments	1.7	38.2
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	0.4	(86.7)
Other Comprehensive Income (Loss), Tax	(0.3)	73.4
Other comprehensive income (loss), net of tax	1.8	24.9
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	3.8
Balance at March 31, 2018	19.9	10.8
Foreign Currency Translation [Member]
Balance at December 31, 2017	(8.2)	(15.7)
Comprehensive Income Before Reclassification Adjustments	0.9	8.4
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	0	0
Other Comprehensive Income (Loss), Tax	0	(2.9)
Other comprehensive income (loss), net of tax	0.9	5.5
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	0
Balance at March 31, 2018	(7.3)	(10.2)
Derivative Investments [Member]
Balance at December 31, 2017	58	58.9
Comprehensive Income Before Reclassification Adjustments	0	0
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	(0.3)	(0.3)
Other Comprehensive Income (Loss), Tax	0.1	0.1
Other comprehensive income (loss), net of tax	(0.2)	(0.2)
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	11.9
Balance at March 31, 2018	69.7	58.7
Defined Benefit Plans [Member]
Balance at December 31, 2017	(36.1)	(37.8)
Comprehensive Income Before Reclassification Adjustments	1.7	0.4
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	0.7	0.7
Other Comprehensive Income (Loss), Tax	(0.6)	(0.4)
Other comprehensive income (loss), net of tax	1.8	0.7
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	(8.2)
Balance at March 31, 2018	(42.5)	(37.1)
Investment Securities [Member]
Balance at December 31, 2017	0.6	(19.5)
Comprehensive Income Before Reclassification Adjustments	(0.9)	29.4
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	0	(87.1)
Other Comprehensive Income (Loss), Tax	0.2	76.6
Other comprehensive income (loss), net of tax	(0.7)	18.9
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	0.1
Balance at March 31, 2018	$ 0	$ (0.6)

Fair Value Measurements (Financ

Fair Value Measurements (Financial Instruments Measured At Fair Value On A Recurring Basis) (Details) $ in Millions	Mar. 31, 2018USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Securities at Fair Value	$ 547.9
Fair Value, Measurements, Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset	30
Marketable Securities	90.4
Total Assets at Fair Value	668.3
Fair Value, Measurements, Recurring [Member] | U.S. Government Agency Security Performance Bond [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Securities at Fair Value	547.9
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Securities at Fair Value	19.2
Fair Value, Measurements, Recurring [Member] | Exchange Traded Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading Securities at Fair Value	70.8
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Securities at Fair Value	0.1
Fair Value, Measurements, Recurring [Member] | Asset Backed Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Securities at Fair Value	0.3
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset	0
Marketable Securities	90.1
Total Assets at Fair Value	638
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | U.S. Government Agency Security Performance Bond [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Securities at Fair Value	547.9
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Securities at Fair Value	19.2
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Exchange Traded Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading Securities at Fair Value	70.8
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Securities at Fair Value	0.1
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Asset Backed Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Securities at Fair Value	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset	30
Marketable Securities	0.3
Total Assets at Fair Value	30.3
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | U.S. Government Agency Security Performance Bond [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Securities at Fair Value	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Securities at Fair Value	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Exchange Traded Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading Securities at Fair Value	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Securities at Fair Value	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Asset Backed Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Securities at Fair Value	0.3
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset	0
Marketable Securities	0
Total Assets at Fair Value	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | U.S. Government Agency Security Performance Bond [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Securities at Fair Value	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Securities at Fair Value	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Exchange Traded Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading Securities at Fair Value	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Securities at Fair Value	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Asset Backed Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Securities at Fair Value	$ 0

Fair Value Measurements (Estima

Fair Value Measurements (Estimated Fair Values of Long-Term Debt) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
$750.0 million fixed rate notes due September 2022, stated rate of 3.00% [Member]
Debt Instrument, Face Amount	$ 750
Debt Instrument, Maturity Date	Sep. 1, 2022
Debt Instrument, Interest Rate, Stated Percentage	3.00%
$750.0 million fixed rate notes due March 2025, stated rate of 3.00% [Member]
Debt Instrument, Face Amount	$ 750
Debt Instrument, Maturity Date	Mar. 1, 2025
Debt Instrument, Interest Rate, Stated Percentage	3.00%
$750.0 million fixed rate notes due September 2043, stated rate of 5.30% [Member]
Debt Instrument, Face Amount	$ 750
Debt Instrument, Maturity Date	Sep. 1, 2043
Debt Instrument, Interest Rate, Stated Percentage	5.30%
Fair Value, Inputs, Level 2 [Member] | $750.0 million fixed rate notes due September 2022, stated rate of 3.00% [Member]
Debt Instrument, Fair Value Disclosure	$ 743.2
Fair Value, Inputs, Level 2 [Member] | $750.0 million fixed rate notes due March 2025, stated rate of 3.00% [Member]
Debt Instrument, Fair Value Disclosure	729.6
Fair Value, Inputs, Level 2 [Member] | $750.0 million fixed rate notes due September 2043, stated rate of 5.30% [Member]
Debt Instrument, Fair Value Disclosure	$ 911.1

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	49	80
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	49	80

Earnings Per Share (Net Income

Earnings Per Share (Net Income Attributable To CME Group) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 598.8	$ 399.8
Basic (in shares)	339,305	338,339
Dilutive Securities, Effect on EPS	1,442	1,607
Diluted (in shares)	340,747	339,946
Earnings per common share, basic (in dollars per share)	$ 1.76	$ 1.18
Earnings per common share, diluted (in dollars per share)	$ 1.76	$ 1.18