Intercontinental Exchange (ICE) 10-Q 4 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Mar. 31, 2016	May. 02, 2016
Document Information [Abstract]
Entity Registrant name	INTERCONTINENTAL EXCHANGE, INC.
Entity Central Index Key	1,571,949
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		119,045,641

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 468	$ 627
Short-term investments	25	29
Short-term restricted cash and investments	657	657
Customer accounts receivable, net of allowance for doubtful accounts of $0 and $2 at March 31, 2016 and December 31, 2015, respectively	941	700
Deposits Assets, Current	52,329	51,169
Prepaid expenses and other current assets	134	131
Total current assets	54,554	53,313
Property and equipment, net	1,018	1,037
Other noncurrent assets:
Goodwill	12,104	12,079
Other intangible assets, net	10,630	10,758
Long-term restricted cash	262	263
Long-term investments	352	299
Other noncurrent assets	23,588	23,637
Other noncurrent assets	240	238
Total assets	79,160	77,987
Current liabilities:
Accounts payable and accrued liabilities	399	398
Section 31 Fees Payable, Current	97	116
Accrued salaries and benefits	107	215
Deferred revenue	429	98
Current portion of long-term debt	2,048	2,591
Deposit Liability, Current	52,329	51,169
Other current liabilities	227	156
Total current liabilities	55,636	54,743
Non-current liabilities:
Noncurrent deferred tax liability, net	2,893	2,837
Accrued employee benefits	470	478
Long-term debt	4,718	4,717
Other noncurrent liabilities	329	337
Total noncurrent liabilities	8,410	8,369
Total liabilities	64,046	63,112
Redeemable non-controlling interest	$ 34	$ 35
Commitments and contingencies
IntercontinentalExchange Group, Inc. shareholders’ equity:
Preferred stock, $0.01 par value; 100 shares authorized; no shares issued or outstanding at September 30, 2015 and December 31, 2014	$ 0	$ 0
Common stock, $0.01 par value; 500 shares authorized; 116 and 110 shares issued and outstanding at September 30, 2015, respectively, and 116 and 113 shares issued and outstanding at December 31, 2014, respectively	1	1
Treasury stock, at cost; 6 and 3 shares at September 30, 2015 and December 31, 2014, respectively	(1,494)	(1,448)
Additional paid-in capital	12,334	12,295
Retained earnings	4,415	4,148
Accumulated other comprehensive loss	(208)	(188)
Total IntercontinentalExchange Group, Inc. shareholders’ equity	15,048	14,808
Non-controlling interest in consolidated subsidiaries	32	32
Total equity	15,080	14,840
Total liabilities and equity	$ 79,160	$ 77,987

Consolidated Balance Sheets Con

Consolidated Balance Sheets Consolidated Balance Sheets Parenthetical - USD ($) shares in Thousands, $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Allowance for Doubtful Accounts Receivable, Current	$ 1	$ 2
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	100,000	100,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	500,000	500,000
Common Stock, Shares, Issued	126,000	126,000
Common Stock, Shares, Outstanding	119,000	119,000
Treasury Stock, Shares	7,000	7,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues:
Clearing Fees Revenue	$ 929	$ 836
Market Data Revenue	477	200
Listing fees	103	101
Other revenues	45	43
Total revenues	1,554	1,180
Transaction-based expenses:
Section 31 fees	98	92
Cash liquidity payments, routing and clearing	302	238
Total revenues, less transaction-based expenses	1,154	850
Operating expenses:
Compensation and benefits	236	151
Technology and communication	92	51
Professional services	32	33
Rent and occupancy	18	16
Acquisition-related transaction and integration costs	27	19
Selling, general and administrative	22	29
Depreciation and amortization	143	89
Total operating expenses	570	388
Operating income	584	462
Other income (expense):
Interest expense	(46)	(23)
Other expense, net	2	2
Other expense, net	(44)	(21)
Income from continuing operations before income tax expense	540	441
Income tax expense	163	118
Net income	377	323
Income (Loss) from Continuing Operations Attributable to Noncontrolling Interest	(8)	(8)
Net income attributable to IntercontinentalExchange Group, Inc.	$ 369	$ 315
Basic earnings per share attributable to IntercontinentalExchange Group, Inc. common shareholders:
Continuing operations	$ 369,000,000	$ 315,000,000
Discontinued operations	119,000,000	112,000,000
Basic earnings per share	3.10	2.81
Diluted earnings per share attributable to IntercontinentalExchange Group, Inc. common shareholders:
Continuing operations	119,000,000	112,000,000
Discontinued operations	1,000,000	0
Diluted earnings per share	$ 120,000,000	$ 112,000,000
Diluted weighted average common shares outstanding	0	0
Dividend per share	$ 0.85	$ 0.65

Consolidated Statements of Chan

Consolidated Statements of Change in Equity, AOCI - USD ($) shares in Millions, $ in Millions	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interest in Consolidated Subsidiaries [Member]	Redeemable Noncontrolling Interest [Member]
Beginning Balance at Dec. 31, 2014	$ 12,392	$ 1	$ (743)	$ 9,938	$ 3,210	$ (46)	$ 32	$ 165
Beginning Balance, Shares at Dec. 31, 2014		116	(3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive loss	(142)					(142)
Exercise of common stock options	19			19
Treasury Stock, Shares, Acquired			(3)
Treasury Stock, Retired, Cost Method, Amount	(660)		$ (660)
Payments relating to treasury shares received for restricted stock tax payments and stock option exercises, Shares			(1)
Restricted Stock And Option Withholding Taxes Recorded As Net Settlement	(45)		$ (45)
Stock-based compensation	122			122
Issuance of restricted stock		1
Tax benefits from stock option plans	19			19
Adjustment to redemption value of redeemable non-controlling interest	(5)				(5)			4
Distributions of profits to non-controlling interest	(16)						(16)	11
Purchase of subsidiary shares from non-controlling interest								128
Dividends paid to shareholders	(331)
Net income attributable to non-controlling interest	(5)				(21)		16	5
Net income	1,295				1,295
Ending Balance at Dec. 31, 2015	$ 14,840	$ 1	$ (1,448)	12,295	4,148	(188)	32	35
Ending Balance, Shares at Dec. 31, 2015	126	126	(7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period, Shares, Acquisitions		9
Stock Issued During Period, Value, Acquisitions	$ 2,197		$ 0	2,197
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income, Equity Method Investments, Net of Tax	2
Foreign currency translation adjustments	(45)
Fair value of available-for-sale securities	(26)
Employee benefit plans adjustments	(119)
Accumulated other comprehensive income	(188)
Other comprehensive loss	(20)					(20)
Exercise of common stock options	4			4
Payments relating to treasury shares received for restricted stock tax payments and stock option exercises, Shares			0
Restricted Stock And Option Withholding Taxes Recorded As Net Settlement	(46)		$ (46)
Stock-based compensation	35			35
Payments relating to treasury shares received for restricted stock tax payments and stock option exercises	0
Distributions of profits to non-controlling interest	(7)						(7)	2
Dividends paid to shareholders	102				(102)
Net income attributable to non-controlling interest	(1)				(8)		7	1
Net income	377				377
Ending Balance at Mar. 31, 2016	$ 15,080	$ 1	$ (1,494)	$ 12,334	$ 4,415	$ (208)	$ 32	$ 34
Ending Balance, Shares at Mar. 31, 2016	126	126	(7)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income, Equity Method Investments, Net of Tax	$ 2
Foreign currency translation adjustments	(119)
Fair value of available-for-sale securities	28
Employee benefit plans adjustments	(119)
Accumulated other comprehensive income	$ (208)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating activities
Net income	$ 377	$ 323
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	143	89
Stock-based compensation	29	24
Deferred taxes	30	(24)
Amortization of Debt Discount (Premium)	0	(12)
Other	3	(15)
Changes in assets and liabilities:
Customer accounts receivable	(229)	(122)
Prepaid expenses and other current assets	(13)	(26)
Income taxes payable	(19)	(45)
Deferred revenue	338	312
Other current and non-current liabilities	(62)	(39)
Total adjustments	220	142
Net cash provided by operating activities from continuing operations	597	465
Investing activities
Capital expenditures	(31)	(39)
Capitalized software development costs	(25)	(21)
Cash paid for equity method investment	0	(60)
Increase in restricted cash and investments	(3)	34
Net cash provided by investing activities from continuing operations	(59)	(86)
Financing activities
Proceeds from (repayments of) commercial paper, net	(543)	35
Dividends to shareholders	(102)	(73)
Payments relating to treasury shares received for restricted stock tax payments and stock option exercises	(47)	(36)
Repurchases of common stock	0	(196)
Distributions of profits to non-controlling interest	(9)	(15)
Proceeds from (Payments for) Other Financing Activities	4	17
Net cash used in financing activities from continuing operations	(697)	(268)
Effect of exchange rate changes on cash and cash equivalents	0	(11)
Net increase (decrease) in cash and cash equivalents	(159)	100
Cash and cash equivalents, beginning of period	627	652
Cash and cash equivalents, end of period	468
Supplemental cash flow disclosure
Cash paid for income taxes	56	51
Cash paid for interest	$ 7	$ 2

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 377	$ 323	$ 1,295
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax benefit of ($3) for both the nine months ended September 30, 2015 and 2014 and ($3) for the three months ended September 30, 2014	(74)	(37)
Change in fair value of available-for-sale securities	54	(70)
Comprehensive income	357	216
Comprehensive income attributable to non-controlling interest	(8)	(8)
Comprehensive income attributable to IntercontinentalExchange Group, Inc.	$ 349	$ 208

Consolidated Statements of Com8

Consolidated Statements of Comprehensive Income Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Foreign currency translation adjustments, Tax	$ (2)	$ 4
Income tax expense	$ (163)	(118)
Net Investment Hedging [Member]
Income tax expense		$ 0

Description of Business

Description of Business	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business We are a leading global operator of regulated exchanges, clearing houses and listings venues, and a provider of data services for commodity and financial markets. We operate regulated marketplaces for trading and clearing a broad array of derivatives and securities contracts across major asset classes, including energy and agricultural commodities, interest rates, equities, equity derivatives, credit derivatives, bonds and currencies. Our exchanges include futures exchanges in the United States, or U.S., United Kingdom, or U.K., Continental Europe, Canada and Singapore and cash equities exchanges and equity options exchanges in the U.S. We also operate over-the-counter, or OTC, markets for physical energy and credit default swaps, or CDS, trade execution. To serve global derivatives markets, we operate central counterparty clearing houses in the U.S., U.K., Continental Europe, Canada and Singapore (Note 9). We offer a range of data and connectivity services to customers in global financial and commodity markets, including fixed income pricing and reference data, analytics and desktop offerings. Through our trading and clearing, in addition to our listings and data services, we provide our customers liquid markets, benchmark products, access to capital markets, information, and a range of related services to support their investing, trading, risk management and capital raising activities.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared by us in accordance with U.S. generally accepted accounting principles, or GAAP, pursuant to the rules and regulations of the Securities and Exchange Commission, or SEC, regarding interim financial reporting. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with our audited consolidated financial statements and related notes thereto for the year ended December 31, 2015 . The accompanying unaudited consolidated financial statements reflect all adjustments that are, in our opinion, necessary for a fair presentation of results for the interim periods presented. These adjustments are of a normal recurring nature. Preparing financial statements requires us to make certain estimates and assumptions that affect the amounts that are reported in the consolidated financial statements and accompanying disclosures. Although these estimates are based on our best knowledge of current events and actions that we may undertake in the future, actual results may be different from these estimates. The results of operations for the three months ended March 31, 2016 are not necessarily indicative of the results to be expected for any future period or the full fiscal year. The accompanying unaudited consolidated financial statements include the accounts of us and our wholly-owned and controlled subsidiaries. All intercompany balances and transactions between us and our wholly-owned and controlled subsidiaries have been eliminated in the consolidation. For those consolidated subsidiaries in which our ownership is less than 100% and for which we have control over the assets and liabilities and the management of the entity, the outside stockholders’ interests are shown as non-controlling interests. In instances where outside stockholders' hold an option to require us to repurchase the outside stockholders' interest, these interests are shown as redeemable non-controlling interests. New and Recently Adopted Accounting Pronouncements In January 2016, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, or ASU 2016-01. ASU 2016-01 provides updated guidance for the recognition, measurement, presentation, and disclosure of certain financial assets and liabilities, including the requirement that equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) are to be measured at fair value with changes in fair value recognized in net income. ASU 2016-01 is effective for annual and interim reporting periods beginning after December 15, 2017. On the adoption of ASU 2016-01, changes in the fair value of our equity investment in Cetip, S.A., or Cetip, will no longer be reflected in accumulated other comprehensive income but will be recognized in net income. As of March 31, 2016, our investment in Cetip included an accumulated unrealized gain of $28 million (Note 10). During the three months ended March 31, 2016, the change in the fair value of the Cetip investment was an increase of $54 million . Once adopted, such fair value changes will be reported as other income (expense) under ASU 2016-01. We are currently evaluating this guidance to determine any additional potential impact on our consolidated financial statements upon adoption. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases, or ASU 2016-02. ASU 2016-02 requires an entity to recognize both assets and liabilities arising from financing and operating leases, along with additional qualitative and quantitative disclosures. A lessee should recognize in its balance sheet a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. ASU 2016-02 is effective for annual and interim reporting periods beginning after December 15, 2018, with early adoption permitted. We are currently evaluating this guidance to determine the potential impact on our consolidated financial statements and whether we will adopt this guidance early. In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Stock Compensation (Topic 718) - Improvements to Employee Share-Based Payment Accounting , or ASU 2016-09. ASU 2016-09 provides updated guidance for the recognition, measurement, presentation, and disclosure of certain components of stock compensation. The guidance includes the recognition of all excess tax benefits/deficiencies in the statement of income and classification as operating activities within the statement of cash flows, as well as the option to account for forfeitures based on awards expected to vest or as they occur. ASU 2016-09 is effective for annual and interim reporting periods beginning after December 15, 2017, with early adoption permitted. We decided to adopt ASU 2016-09 early for the period ended March 31, 2016 on a prospective basis. As a result, we recorded an $11 million excess tax benefit within our consolidated statement of income for the three months ended March 31, 2016 (Note 8). No other terms of the adopted guidance resulted in any significant impact on our consolidated financial statements. Reclassifications Certain prior period amounts have been reclassified to conform to the current period’s financial statement presentation. For the three months ended March 31, 2015, we reclassified $24 million of transaction based expenses in transaction and clearing revenues, net to transaction based expenses for consistency of how we report our cash equities markets. The amounts reclassified to transaction based expenses relate to equity options markets. For the three months ended March 31, 2015, we also reclassified $13 million in connectivity fees from other revenues to data services revenues.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The following is a summary of the activity in the goodwill balance for the three months ended March 31, 2016 (in millions): Goodwill balance at December 31, 2015 $ 12,079 Foreign currency translation (23 ) Other activity, net 48 Goodwill balance at March 31, 2016 $ 12,104 The following is a summary of the activity in the other intangible assets balance for the three months ended March 31, 2016 (in millions): Other intangible assets balance at December 31, 2015 $ 10,758 Foreign currency translation (40 ) Other activity, net (6 ) Amortization of other intangible assets (82 ) Other intangible assets balance at March 31, 2016 $ 10,630 The foreign currency translation adjustments in the tables above result from a portion of our goodwill and other intangible assets being held at our U.K., Continental European and Canadian subsidiaries, some of whose functional currencies are not the U.S. dollar. The changes in other activity, net in the tables above primarily relate to adjustments to the fair value of the net tangible and identifiable intangible assets and liabilities relating to the Interactive Data acquisition, with a corresponding charge to goodwill (Note 3). We did not recognize any impairment losses on goodwill or other intangible assets during the three months ended March 31, 2016 and 2015 .

Deferred Revenue Deferred Reven

Deferred Revenue Deferred Revenue	3 Months Ended
	Mar. 31, 2016
Revenue Recognition [Abstract]
Deferred Revenue Disclosure [Text Block]	Deferred Revenue Deferred revenue represents cash received that is yet to be recognized as revenue. Total deferred revenue was $528 million as of March 31, 2016 , including $429 million in current deferred revenue and $99 million in non-current deferred revenue. The changes in our deferred revenue during the three months ended March 31, 2016 are as follows (in millions): Annual Listings Revenue Original Listings Revenues Other Listings Revenues Data Services and Other Revenues Total Deferred revenue balance at December 31, 2015 $ — $ 50 $ 59 $ 81 $ 190 Additions 363 6 24 143 536 Amortization (91 ) (3 ) (9 ) (95 ) (198 ) Deferred revenue balance at March 31, 2016 $ 272 $ 53 $ 74 $ 129 $ 528

Debt

Debt	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Debt	Debt Our total debt, including short-term and long-term debt, consisted of the following as of March 31, 2016 and December 31, 2015 (in millions): As of As of Debt: Commercial Paper $ 2,048 $ 2,591 Short-term debt 2,048 2,591 NYSE USD Notes (2.00% senior unsecured notes due October 5, 2017) 852 852 2018 Senior Notes (2.50% senior unsecured notes due October 15, 2018) 597 597 2020 Senior Notes (2.75% senior unsecured notes due December 1, 2020) 1,239 1,239 2023 Senior Notes (4.00% senior unsecured notes due October 15, 2023) 789 789 2025 Senior Notes (3.75% senior unsecured notes due December 1, 2025) 1,241 1,240 Long-term debt 4,718 4,717 Total debt $ 6,766 $ 7,308 Credit Facility We have entered into a $3.0 billion senior unsecured revolving credit facility, or the Credit Facility, with a maturity date of November 13, 2020. The Credit Facility includes an option for us to propose an increase in the aggregate amount available for borrowing by up to $1.0 billion , subject to the consent of the lenders funding the increase and certain other conditions. On November 13, 2015, we utilized this option to increase the amount of the Credit Facility to $3.4 billion . The commitments under the Credit Facility will automatically reduce to $2.95 billion on April 3, 2019. No amounts were outstanding under the Credit Facility as of March 31, 2016 . Of the $3.4 billion that is currently available for borrowing under the Credit Facility, $2.0 billion is required to back-stop the amount outstanding under our Commercial Paper Program as of March 31, 2016 . The amount required to back-stop the amounts outstanding under the Commercial Paper Program will fluctuate as we increase or decrease our commercial paper borrowings. The remaining $1.4 billion as of March 31, 2016 is available to us to use for working capital and general corporate purposes including, but not limited to, acting as a back-stop to the amounts outstanding under the Commercial Paper Program. 364 Day Facility On November 13, 2015, we entered into a $500 million 364 day senior unsecured revolving credit facility, or the 364 Day Facility. The amounts available under the 364 Day Facility are available for use by us for working capital and general corporate purposes, but specifically excluding any use to back-stop amounts issued under the Commercial Paper Program. The commitments under the 364 Day Credit Facility will be automatically reduced to $375 million on May 13, 2016 and to $250 million on August 13, 2016. No amounts were outstanding under the 364 Day Facility as of March 31, 2016. Commercial Paper Program We have entered into a U.S. dollar commercial paper program, or the Commercial Paper Program. Our Commercial Paper Program is currently backed by the borrowing capacity available under the Credit Facility, equal to the amount of the commercial paper that is issued and outstanding at any given point in time. The effective interest rate of commercial paper issuances does not materially differ from short term interest rates (such as USD LIBOR). The fluctuation of these rates due to market conditions may impact our interest expense. Commercial paper notes of $2.0 billion with original maturities ranging from 1 to 89 days were outstanding as of March 31, 2016 under our Commercial Paper Program. As of March 31, 2016 , the weighted average interest rate on the $2.0 billion outstanding under our Commercial Paper Program was 0.54% per annum, with a weighted average maturity of 22 days. We repaid a portion of the amounts outstanding under the Commercial Paper Program during the three months ended March 31, 2016 using cash flows from operations and a portion of our unrestricted cash balances. Senior Notes On November 24, 2015, we issued $2.5 billion in aggregate senior notes, including $1.25 billion principal amount of 2.75% senior unsecured fixed rate notes due November 2020, or the 2020 Senior Notes, and $1.25 billion principal amount of 3.75% senior unsecured fixed rate notes due November 2025, or the 2025 Senior Notes. We used the net proceeds from the 2020 Senior Notes and 2025 Senior Notes offering, together with $1.6 billion of borrowings under our Commercial Paper Program, to finance the $4.1 billion cash portion of the purchase price of the acquisition of Interactive Data (Note 3). NYSE Notes In connection with our acquisition on November 13, 2013 of NYSE Euronext, which we refer to as NYSE following the initial public offering and sale of Euronext in 2014, we assumed the outstanding NYSE debt instruments, which included $850 million of 2.00% senior unsecured fixed rate notes due in October 2017, or the NYSE USD Notes, and €920 million ( $1.1 billion ) of 5.375% senior unsecured fixed rate notes that were due in June 2015, or the NYSE EUR Notes, and together with the NYSE USD Notes, the NYSE Notes. On June 30, 2015, we repaid the NYSE EUR Notes using cash that had been set aside in July 2014 from the proceeds of the sale of Euronext. During the three months ended March 31, 2015 , the amortization of the increase in the fair value of the NYSE Notes that was recorded in connection with the NYSE acquisition purchase accounting was $12 million . No significant amortization expenses were recorded after the repayment of the NYSE EUR Notes.

Equity

Equity	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Equity	Equity We currently sponsor employee and director stock option and restricted stock plans. Stock options and restricted stock are granted at the discretion of the compensation committee of the board of directors. All stock options and restricted stock awards are granted at an exercise price equal to the fair value of the common stock on the date of grant. The grant date fair value is based on the closing stock price on the date of grant. The fair value of the stock options and restricted stock on the date of grant is recognized as expense over the vesting period, net of estimated forfeitures. The non-cash compensation expenses recognized in our consolidated statements of income for stock options and restricted stock were $29 million and $24 million for the three months ended March 31, 2016 and 2015 , respectively. Stock Option Plans The following is a summary of stock options for the three months ended March 31, 2016 : Number of Options Weighted Average Outstanding at December 31, 2015 774,551 $ 159.66 Granted 150,323 250.07 Exercised (28,098 ) 145.07 Outstanding at March 31, 2016 896,776 175.28 Details of stock options outstanding as of March 31, 2016 are as follows: Number of Options Weighted Average Weighted Average Aggregate Vested or expected to vest 896,776 $ 175.28 6.7 $ 56 Exercisable 596,892 $ 148.32 5.5 $ 52 The total intrinsic value of stock options exercised during the three months ended March 31, 2016 and 2015 were $3 million and $5 million , respectively. As of March 31, 2016 , there were $13 million in total unrecognized compensation costs related to stock options. These costs are expected to be recognized over a weighted average period of 2.1 years as the stock options vest. We use the Black-Scholes option pricing model for purposes of valuing stock option awards. During the three months ended March 31, 2016 and 2015 , we used the weighted-average assumptions in the table below to compute the value of all options for shares of common stock granted to employees: Three Months Ended March 31, Assumptions: 2016 2015 Risk-free interest rate 1.51 % 1.08 % Expected life in years 5.0 5.0 Expected volatility 24 % 24 % Expected dividend yield 1.36 % 1.25 % Estimated weighted-average fair value of options granted per share $ 49.39 $ 40.94 The risk-free interest rate is based on the zero-coupon U.S. Treasury yield curve in effect at the time of grant. The expected life computation is derived from historical exercise patterns and anticipated future patterns. Expected volatilities are based on historical volatility of our stock. Restricted Stock Plans In January 2016, we reserved a maximum of 330,924 restricted shares for potential issuance as performance-based restricted shares to certain of our employees. The number of shares that will ultimately be granted under the performance awards will be based on our actual financial performance as compared to financial performance targets set by our board of directors and compensation committee for the year ending December 31, 2016. The maximum compensation expense to be recognized under these performance-based restricted shares is $80 million if the maximum financial performance target is met and all 330,924 shares vest. The compensation expense to be recognized under these performance-based restricted shares will be $39 million if the target financial performance is met, which would result in 165,462 shares vesting. These restricted shares are also subject to a market condition that could reduce the number of shares that are ultimately granted. We will recognize expense on an accelerated basis over the three -year vesting period based on our quarterly assessment of the probable 2016 actual financial performance as compared to the 2016 financial performance targets. As of March 31, 2016 , we determined that it is probable that the financial performance level will be at target for 2016 . Based on this assessment, we recorded non-cash compensation expense of $5 million for the three months ended March 31, 2016 , related to these shares and the remaining $34 million in non-cash compensation expense will be recorded on an accelerated basis over the remaining vesting period, including $19 million of which will be recorded over the remainder of 2016 . The following is a summary of the non-vested restricted shares for the three months ended March 31, 2016 : Number of Weighted Average Non-vested at December 31, 2015 1,254,235 $ 199.44 Granted 536,784 247.57 Vested (412,048) 184.66 Forfeited (19,020) 223.31 Non-vested at March 31, 2016 1,359,951 223.04 Restricted stock shares granted in the table above include both time-based and performance-based grants. Performance-based shares have been adjusted to reflect the actual shares to be issued based on the achievement of past performance targets. Non-vested performance-based restricted shares granted are presented in the table above at the maximum number of restricted shares that would vest if the maximum performance targets are met. As of March 31, 2016 , there were $195 million in total unrecognized compensation costs related to the time-based restricted stock and the performance-based restricted stock. These costs are expected to be recognized over a weighted-average period of 1.8 years as the restricted stock vests. These unrecognized compensation costs assume that a target performance level will be met on the performance-based restricted shares granted in January 2016. During the three months ended March 31, 2016 and 2015 , the total fair value of restricted stock vested under all restricted stock plans was $103 million and $80 million , respectively. Stock Repurchase Program During 2015, our stock repurchases were completed under stock repurchase plans authorized by our board of directors. In connection with our acquisition of Interactive Data during the fourth quarter of 2015, we suspended our stock repurchase plan and that plan has now expired. We did not repurchase any of our outstanding common stock during the three months ended March 31, 2016 . The timing and extent of future repurchases, if any, that are not made pursuant to a Rule 10b5-1 trading plan will be at our discretion and will depend upon many conditions. Our management and board of directors periodically review whether or not to be active in repurchasing our stock. In making a determination regarding any stock repurchases, we consider multiple factors. The factors may include: overall stock market conditions, our common stock price movements, the remaining amount authorized for repurchases by our board of directors, the potential impact of a stock repurchase program on our corporate debt ratings, our expected free cash flow and working capital needs, our current and future planned strategic growth initiatives, and other potential uses of our cash and capital resources.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rate was 30% and 27% for the three months ended March 31, 2016 and 2015 , respectively. The effective tax rates for the three months ended March 31, 2016 and 2015 were lower than the federal statutory rate primarily due to favorable foreign income tax rate differentials, partially offset by state income taxes. The favorable foreign income tax rate differential results primarily from lower tax rates in the U.K. The effective tax rate for the three months ended March 31, 2016 is higher than the effective tax rate for the comparable period in 2015 primarily due to a mix of foreign versus U.S. based income and an increase to deferred income taxes in the current year, partially offset by the tax benefit from the early adoption of ASU 2016-09 (Note 2). Our non-U.S. subsidiaries had $3.1 billion in cumulative undistributed earnings as of March 31, 2016 . This amount represents the post-income tax earnings under GAAP adjusted for previously taxed income. The earnings from our non-U.S. subsidiaries are considered to be indefinitely reinvested. Accordingly, no provision for U.S. federal and state income taxes has been made in the accompanying consolidated financial statements. Further, a determination of the unrecognized deferred tax liability is not practicable. Any future distribution by way of dividend of these non-U.S. earnings may subject us to both U.S. federal and state income taxes, as adjusted for non-U.S. tax credits, and withholding taxes payable to various non-U.S. countries.

Clearing Organizations

Clearing Organizations	3 Months Ended
	Mar. 31, 2016
Brokers and Dealers [Abstract]
Clearing Organizations	Clearing Organizations We operate regulated central counterparty clearing houses for the settlement and clearance of derivative contracts. The clearing houses include ICE Clear Europe, ICE Clear Credit, ICE Clear U.S., ICE Clear Canada, ICE Clear Netherlands and ICE Clear Singapore (referred to herein collectively as the “ICE Clearing Houses”). • ICE Clear Europe performs the clearing and settlement for all futures and options contracts traded through ICE Futures Europe and ICE Endex, for CDS contracts submitted for clearing in Europe, and for energy futures and options contracts trading through ICE Futures U.S. • ICE Clear Credit performs the clearing and settlement for CDS contracts submitted for clearing in North America. • ICE Clear U.S. performs the clearing and settlement of agricultural, metals, currencies and financial futures and options contracts traded through ICE Futures U.S. • ICE Clear Canada performs the clearing and settlement for all futures and options contracts traded through ICE Futures Canada. • ICE Clear Netherlands offers clearing for The Order Machine, a multi-lateral trading facility for equity options. • ICE Clear Singapore performs the clearing and settlement for all futures and options contracts traded through ICE Futures Singapore. Each of the ICE Clearing Houses requires all clearing members to maintain cash on deposit or pledge certain assets, which may include government obligations, non-government obligations, letters of credit or gold to guarantee performance of the clearing members’ open positions. Such amounts in total are known as “original margin.” The ICE Clearing Houses may make intraday original margin calls in circumstances where market conditions require additional protection. The daily profits and losses from and to the ICE Clearing Houses due to the marking-to-market of open contracts is known as “variation margin”. The ICE Clearing Houses mark all outstanding contracts to market, and therefore pay and collect variation margin, at least once daily, and in some cases multiple times throughout the day. Marking-to-market allows the ICE Clearing Houses to identify any clearing members that may be unable to satisfy the financial obligations resulting from changes in the prices of their open contracts before those financial obligations become exceptionally large and jeopardize the ability of the ICE Clearing Houses to ensure financial performance of clearing members’ open positions. Each of the ICE Clearing Houses requires that each clearing member make deposits into a fund known as a “guaranty fund”, which is maintained by the relevant ICE Clearing House. These amounts serve to secure the obligations of a clearing member to the ICE Clearing House to which it has made the guaranty fund deposit and may be used to cover losses sustained by the respective ICE Clearing House in the event of a default of a clearing member. The ICE Clearing Houses seek to reduce their exposure through a risk management program that includes initial and ongoing financial standards for clearing member admission and continued membership, original and variation margin requirements, and mandatory deposits to the guaranty fund. The amounts that the clearing members are required to maintain in the original margin and guaranty fund accounts are determined by standardized parameters established by the risk management departments and reviewed by the risk committees and the boards of directors of each of the ICE Clearing Houses and may fluctuate over time. As of March 31, 2016 and December 31, 2015 , the ICE Clearing Houses have received or have been pledged $88.5 billion and $87.2 billion , respectively, in cash and non-cash collateral in original margin and guaranty fund deposits to cover price movements of underlying contracts for both periods. The ICE Clearing Houses also have powers of assessment that provide the ability to collect additional funds from their clearing members to cover a defaulting member’s remaining obligations up to the limits established under the respective rules of each ICE Clearing House. Should a particular clearing member fail to deposit original margin, or fail to make a variation margin payment, when and as required, the relevant ICE Clearing House may liquidate or hedge the clearing member’s open positions and use the clearing member’s original margin and guaranty fund deposits to make up any amount owed. In the event that those deposits are not sufficient to pay the amount owed in full, the ICE Clearing Houses may utilize the respective guaranty fund deposits of their respective clearing members on a pro-rata basis for that purpose. We have contributed $150 million , $50 million and $50 million in cash to the ICE Clear Europe, ICE Clear Credit and ICE Clear U.S. guaranty funds, respectively, as of March 31, 2016 , and such amounts are at risk and could be used in the event of a clearing member default where the amount of the defaulting clearing member’s original margin and guaranty fund deposits are insufficient. The $250 million combined contributions to the guaranty funds as of March 31, 2016 and December 31, 2015 are included in long-term restricted cash in the accompanying consolidated balance sheets. As of March 31, 2016 , original margin and guaranty fund cash deposits are as follows for the ICE Clearing Houses (in millions): ICE Clear Europe ICE Clear ICE Clear U.S. Other ICE Clearing Houses Total Original margin $ 28,795 $ 14,064 $ 4,383 $ 172 $ 47,414 Guaranty fund 2,981 1,596 325 13 4,915 Total $ 31,776 $ 15,660 $ 4,708 $ 185 $ 52,329 As of December 31, 2015 , original margin and guaranty fund cash deposits are as follows for the ICE Clearing Houses (in millions): ICE Clear Europe ICE Clear ICE Clear U.S. Other ICE Clearing Houses Total Original margin $ 28,454 $ 13,750 $ 3,882 $ 159 $ 46,245 Guaranty fund 2,589 2,011 311 13 4,924 Total $ 31,043 $ 15,761 $ 4,193 $ 172 $ 51,169 We have recorded these cash deposits in the accompanying consolidated balance sheets as current assets with corresponding current liabilities to the clearing members of the relevant ICE Clearing House. All cash, securities and letters of credit are available only to meet the financial obligations of that clearing member to the relevant ICE Clearing House. ICE Clear Europe, ICE Clear Credit, ICE Clear U.S., ICE Clear Canada, ICE Clear Netherlands and ICE Clear Singapore are separate legal entities and are not subject to the liabilities of the other ICE Clearing Houses or the obligations of the members of the other ICE Clearing Houses. The amount of these cash deposits may fluctuate due to the types of margin collateral choices available to clearing members and the change in the amount of deposits required. As a result, these assets and corresponding liabilities may vary significantly over time. Except with respect to ICE Clear Credit, the majority of the cash held by the ICE Clearing Houses is secured in reverse repurchase agreements with primarily overnight maturities or direct investment in U.S. government securities. ICE Clear Credit has been designated as a systemically important financial market utility by the Financial Stability Oversight Council and has been authorized to establish and maintain a cash account at the Federal Reserve Bank of Chicago. ICE Clear Credit held $6.8 billion of its U.S. dollar cash in the guaranty fund and in original margin in the cash account at the Federal Reserve Bank of Chicago as of March 31, 2016 . The remaining cash deposits at the ICE Clearing Houses are held in demand deposit accounts at large, highly rated financial institutions and directly in U.S. Treasury securities with original maturities of less than 12 months. In addition to the cash deposits for original margin and the guaranty fund, the ICE Clearing Houses have also received other assets from clearing members, which may include government obligations, certain agency and corporate debt, letters of credit or gold to mitigate credit risk. These assets are not reflected in the accompanying consolidated balance sheets as the risks and rewards of these assets remain with the clearing members unless the ICE Clearing Houses have sold or re-pledged the assets or in the event of a clearing member default, where the clearing member is no longer entitled to redeem the assets. Any income, gain or loss accrues to the clearing member. For certain non-cash deposits, the ICE Clearing Houses may impose discount or "haircut" rates to ensure adequate collateral levels to account for fluctuations in the market value of these deposits. As of March 31, 2016 and December 31, 2015 , the assets pledged by the clearing members as original margin and guaranty fund deposits for each of the ICE Clearing Houses are detailed below (in millions): As of March 31, 2016 As of December 31, 2015 ICE Clear Europe ICE Clear Credit ICE Clear U.S. Other ICE Clearing Houses ICE Clear Europe ICE Clear Credit ICE Clear U.S. Other ICE Clearing Houses Original margin: Government securities at face value $ 21,153 $ 5,659 $ 8,161 $ 44 $ 21,690 $ 4,989 $ 8,161 $ 97 Letters of credit — — — 398 — — — 381 Total $ 21,153 $ 5,659 $ 8,161 $ 442 $ 21,690 $ 4,989 $ 8,161 $ 478 Guaranty fund: Government securities at face value $ 256 $ 290 $ 158 $ 61 $ 267 $ 229 $ 158 $ 61

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Our financial instruments consist primarily of cash and cash equivalents, short-term and long-term restricted cash and investments, short-term and long-term investments, customer accounts receivable, margin deposits and guaranty funds, cost and equity method investments, short-term and long-term debt and certain other short-term assets and liabilities. The fair value of our financial instruments are measured based on a three-level hierarchy: • Level 1 inputs — quoted prices for identical assets or liabilities in active markets. • Level 2 inputs — observable inputs other than Level 1 inputs 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 — unobservable inputs supported by little or no market activity and that are significant to the fair value of the assets or liabilities. In general, we use Level 1 inputs to determine fair value. The Level 1 assets consist of U.S. Treasury securities, equity and other securities listed in active markets, and investments in publicly traded mutual funds held for the purpose of providing future payments of the supplemental executive retirement and the supplemental executive savings plans. Financial assets and liabilities recorded in the accompanying consolidated balance sheets as of March 31, 2016 and December 31, 2015 are classified in their entirety based on the lowest level of input that is significant to the asset or liability’s fair value measurement. Financial instruments measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015 are as follows (in millions): As of March 31, 2016 As of December 31, 2015 Level 1 Level 2 and 3 Total Level 1 Level 2 and 3 Total Assets at fair value: Long-term investment in equity securities $ 352 $ — $ 352 $ 299 $ — $ 299 U.S. Treasury securities 452 — 452 449 — 449 Mutual Funds 25 — 25 29 — 29 Total assets at fair value $ 829 $ — $ 829 $ 777 $ — $ 777 As of March 31, 2016 , the fair value of our $1.24 billion 2020 Senior Notes was $1.28 billion , the fair value of our $1.24 billion 2025 Senior Notes was $1.28 billion , the fair value of our $852 million NYSE USD Notes was $859 million , the fair value of our $789 million 2023 Senior Notes was $840 million , and the fair value of our $597 million 2018 Senior Notes was $607 million . The fair values of these fixed rate notes were estimated using quoted market prices for these instruments. The fair value of our commercial paper approximates the carrying value since the rates of interest on this short-term debt approximate market rates as of March 31, 2016 . All other financial instruments are determined to approximate carrying value due to the short period of time to their maturities. The long-term investment in equity securities represents our investment in Cetip, which is recorded as an available-for-sale investment, and is recorded and held in Brazilian reais. Cetip was valued at $352 million as of March 31, 2016 , using its quoted market price. Changes in the fair value of the Cetip investment are currently reflected in accumulated other comprehensive income (loss) and do not impact earnings, except to the extent that unrealized losses are deemed to be other than temporary (Note 2). As of March 31, 2016 , we had an accumulated unrealized gain related to this investment of $28 million . The fair value of our investment in Cetip as of March 31, 2016 is based on a stock price of R$40.15 per share. In April 2016, Cetip and BM&FBOVESPA in Brazil entered into a merger agreement. Consummation of the merger remains subject to approval by the shareholders of both companies and the regulatory bodies of the Central Bank of Brazil, the Securities and Exchange Commission of Brazil and Brazil’s Council for Economic Defense. The proposed merger values Cetip at R$42.22 per share based upon the April 29, 2016 BM&FBOVESPA closing stock price. Under the terms of the merger agreement, Cetip shareholders will receive a combination of cash (75%) and BM&FBOVESPA stock (25%). Given that a portion of the purchase price consists of BM&FBOVESPA stock, the merger agreement includes an adjustment mechanism that provides for a stock valuation based on the BMF&BOVESPA average trading price during the 30 trading days preceding the last required regulatory approval, with a minimum stock valuation of R$42 per share and a maximum stock valuation of R$48.51 per share. In addition, the merger agreement provides for a CDI interbank rate adjustment for the cash portion of the transaction to account for the period of announcement to closing. As of March 31, 2016 , we held $452 million in U.S. Treasury securities, all of which had remaining maturities of less than one year at the date of purchase. Of these securities, $28 million were recorded as cash and cash equivalents, $274 million were recorded as short-term restricted cash and investments and $150 million were recorded as long-term restricted cash and investments in the accompanying consolidated balance sheet as of March 31, 2016 . All of the U.S. Treasury securities recorded as cash and cash equivalents have remaining maturities of less than 90 days. We did not use Level 2 and 3 inputs to determine the fair value of assets or liabilities measured at fair value on a recurring basis as of March 31, 2016 or December 31, 2015 . We measure certain assets, such as intangible assets and cost and equity method investments, at fair value on a non-recurring basis. These assets are recognized at fair value if they are deemed to be impaired. As of March 31, 2016 and December 31, 2015 , none of these assets were required to be recorded at fair value since no impairment indicators were present. Cost and equity method investments were $116 million as of both March 31, 2016 and December 31, 2015 and are classified as other non-current assets in the accompanying consolidated balance sheets.

Condensed Consolidating Financi

Condensed Consolidating Financial Statements	3 Months Ended
	Mar. 31, 2016
Condensed Consolidating Financial Statements [Abstract]
Condensed Consolidating Financial Statements	Condensed Consolidating Financial Statements (Unaudited) In connection with our acquisition of NYSE, Intercontinental Exchange, Inc., or ICE, and NYSE Holdings LLC, or NYSE Holdings, established various guarantees to protect against structural subordination of each entity’s existing indebtedness. NYSE Holdings is our wholly-owned subsidiary and fully and unconditionally guarantees, on an unsecured and unsubordinated basis, the payment of principal, premium, if any, and interest of our Credit Facility, Commercial Paper Program and our senior notes. Similarly, ICE fully and unconditionally guarantees, on an unsecured and unsubordinated basis, the payment of principal, premium, if any, and interest of the NYSE USD Notes. The guarantees will remain in place until each applicable debt obligation has been satisfied. The following consolidating financial information sets forth, under the equity method of accounting, the condensed consolidating statements of income and comprehensive income, the condensed consolidating balance sheets, and the condensed consolidating statements of cash flows for (i) ICE (Parent); (ii) NYSE Holdings; (iii) the subsidiary non-guarantors; (iv) elimination entries necessary to consolidate each of ICE (Parent) and NYSE Holdings with the non-guarantor subsidiaries; and (v) on a consolidated basis. The condensed consolidating financial information should be read in conjunction with the accompanying consolidated financial statements. Intercontinental Exchange, Inc. Condensed Consolidating Balance Sheets As of March 31, 2016 (In millions) ICE (Parent) Subsidiary Subsidiary Consolidating Adjustments Consolidated Total Current assets: Cash and cash equivalents $ 1 $ — $ 467 $ — $ 468 Intercompany receivable 3,045 — — (3,045 ) — Margin deposits and guaranty funds — — 52,329 — 52,329 Notes receivable from affiliate, current — 281 38 (319 ) — Other current assets 5 — 1,752 — 1,757 Total current assets 3,051 281 54,586 (3,364 ) 54,554 Property and equipment, net — — 1,018 — 1,018 Other non-current assets: Goodwill and other intangible assets, net — — 22,734 — 22,734 Investment in subsidiaries 21,514 9,913 — (31,427 ) — Notes receivable from affiliate, non-current — 3,482 4,036 (7,518 ) — Other non-current assets 18 11 825 — 854 Total other non-current assets 21,532 13,406 27,595 (38,945 ) 23,588 Total assets $ 24,583 $ 13,687 $ 83,199 $ (42,309 ) $ 79,160 Current liabilities: Short-term debt $ 2,048 $ — $ — $ — $ 2,048 Margin deposits and guaranty funds — — 52,329 — 52,329 Intercompany payable — 1,636 1,409 (3,045 ) — Notes payable to affiliates, current 319 — — (319 ) — Other current liabilities 61 — 1,198 — 1,259 Total current liabilities 2,428 1,636 54,936 (3,364 ) 55,636 Non-current liabilities: Long-term debt 3,866 852 — — 4,718 Notes payable to affiliates, non-current 3,241 795 3,482 (7,518 ) — Other non-current liabilities — — 3,692 — 3,692 Total non-current liabilities 7,107 1,647 7,174 (7,518 ) 8,410 Total liabilities 9,535 3,283 62,110 (10,882 ) 64,046 Redeemable non-controlling interest — — 34 — 34 Equity: Total shareholders' equity 15,048 10,404 21,023 (31,427 ) 15,048 Non-controlling interest in consolidated subsidiaries — — 32 — 32 Total equity 15,048 10,404 21,055 (31,427 ) 15,080 Total liabilities and equity $ 24,583 $ 13,687 $ 83,199 $ (42,309 ) $ 79,160 Intercontinental Exchange, Inc. Condensed Consolidating Balance Sheets As of December 31, 2015 (In millions) ICE (Parent) Subsidiary Subsidiary Consolidating Adjustments Consolidated Total Current assets: Cash and cash equivalents $ 1 $ — $ 626 $ — $ 627 Intercompany receivable 3,176 — — (3,176 ) — Margin deposits and guaranty funds — — 51,169 — 51,169 Note receivable from affiliate, current — 705 77 (782 ) — Other current assets 5 — 1,512 — 1,517 Total current assets 3,182 705 53,384 (3,958 ) 53,313 Property and equipment, net — — 1,037 — 1,037 Other non-current assets: Goodwill and other intangible assets, net — — 22,837 — 22,837 Investment in subsidiaries 21,120 9,840 — (30,960 ) — Note receivable from affiliate, non-current — 3,128 3,370 (6,498 ) — Other non-current assets 20 10 770 — 800 Total other non-current assets 21,140 12,978 26,977 (37,458 ) 23,637 Total assets $ 24,322 $ 13,683 $ 81,398 $ (41,416 ) $ 77,987 Current liabilities: Short-term debt $ 2,591 $ — $ — $ — $ 2,591 Margin deposits and guaranty funds — — 51,169 — 51,169 Intercompany payable — 1,784 1,392 (3,176 ) — Notes payable to affiliates, current 358 — 424 (782 ) — Other current liabilities 36 — 947 — 983 Total current liabilities 2,985 1,784 53,932 (3,958 ) 54,743 Non-current liabilities: Long-term debt 3,865 852 — — 4,717 Notes payable to affiliates, non-current 2,629 741 3,128 (6,498 ) — Other non-current liabilities 35 — 3,617 — 3,652 Total non-current liabilities 6,529 1,593 6,745 (6,498 ) 8,369 Total liabilities 9,514 3,377 60,677 (10,456 ) 63,112 Redeemable non-controlling interest — — 35 — 35 Equity: Total shareholders' equity 14,808 10,306 20,654 (30,960 ) 14,808 Non-controlling interest in consolidated subsidiaries — — 32 — 32 Total equity 14,808 10,306 20,686 (30,960 ) 14,840 Total liabilities and equity $ 24,322 $ 13,683 $ 81,398 $ (41,416 ) $ 77,987 Intercontinental Exchange, Inc. Condensed Consolidating Statements of Income Three Months Ended March 31, 2016 (In millions) ICE (Parent) Subsidiary Subsidiary Consolidating Adjustments Consolidated Total Revenues: Transaction and clearing, net $ — $ — $ 929 $ — $ 929 Data services — — 477 — 477 Listings and other revenues — — 148 — 148 Revenues — — 1,554 — 1,554 Transaction-based expenses — — 400 — 400 Revenues, less transaction-based expenses — — 1,154 — 1,154 Operating expenses: Compensation and benefits — — 236 — 236 Technology and communication — — 92 — 92 Acquisition-related transaction and integration costs — — 27 — 27 Selling, general, administrative and other — — 72 — 72 Depreciation and amortization — — 143 — 143 Operating expenses — — 570 — 570 Operating income — — 584 — 584 Intercompany interest on loans (4 ) 8 (4 ) — — Other income (expense), net (41 ) (4 ) 1 — (44 ) Total other income (expense), net (45 ) 4 (3 ) — (44 ) Income (loss) before income taxes (45 ) 4 581 — 540 Income tax expense — — 163 — 163 Equity earnings from subsidiaries 414 113 — (527 ) — Net income $ 369 $ 117 $ 418 $ (527 ) $ 377 Net income attributable to non-controlling interest — — (8 ) — (8 ) Net income attributable to ICE $ 369 $ 117 $ 410 $ (527 ) $ 369 Intercontinental Exchange, Inc. Condensed Consolidating Statements of Comprehensive Income Three Months Ended March 31, 2016 (In millions) ICE (Parent) Subsidiary Subsidiary Consolidating Adjustments Consolidated Total Net income $ 369 $ 117 $ 418 $ (527 ) $ 377 Other comprehensive income (loss): Foreign currency translation adjustments — — (74 ) — (74 ) Change in fair value of available-for-sale-securities — — 54 — 54 Total other comprehensive loss — — (20 ) — (20 ) Comprehensive loss of subsidiaries (25 ) (19 ) — 44 — Comprehensive income 344 98 398 (483 ) 357 Comprehensive income attributable to non-controlling interests — — (8 ) — (8 ) Comprehensive income attributable to ICE $ 344 $ 98 $ 390 $ (483 ) $ 349 Intercontinental Exchange, Inc. Condensed Consolidating Statements of Income Three Months Ended March 31, 2015 (In millions) ICE (Parent) Subsidiary Guarantor - NYSE Holdings Subsidiary Consolidating Adjustments Consolidated Total Revenues: Transaction and clearing, net $ — $ — $ 836 $ — $ 836 Data services — — 200 — 200 Listings and other revenues — — 144 — 144 Revenues — — 1,180 — 1,180 Transaction-based expenses — — 330 — 330 Revenues, less transaction-based expenses — — 850 — 850 Operating expenses: Compensation and benefits — — 151 — 151 Technology and communication — — 51 — 51 Acquisition-related transaction and integration costs — — 19 — 19 Selling, general, administrative and other 1 — 77 — 78 Depreciation and amortization — — 89 — 89 Operating expenses 1 — 387 — 388 Operating income (loss) (1 ) — 463 — 462 Total other income (expense), net 18 (30 ) (9 ) — (21 ) Income (loss) before income taxes 17 (30 ) 454 — 441 Income tax expense 7 — 111 — 118 Equity earnings from subsidiaries 305 97 — (402 ) — Net income $ 315 $ 67 $ 343 $ (402 ) $ 323 Net income attributable to non-controlling interest — — (8 ) — (8 ) Net income attributable to ICE $ 315 $ 67 $ 335 $ (402 ) $ 315 Intercontinental Exchange, Inc. Condensed Consolidating Statements of Comprehensive Income Three Months Ended March 31, 2015 (In millions) ICE (Parent) Subsidiary Guarantor - NYSE Holdings Subsidiary Consolidating Adjustments Consolidated Total Net income $ 315 $ 67 $ 343 $ (402 ) $ 323 Other comprehensive income (loss): Foreign currency translation adjustments — 1 (38 ) — (37 ) Change in fair value of available-for-sale-securities — — (70 ) — (70 ) Total other comprehensive income (loss) — 1 (108 ) — (107 ) Comprehensive loss of subsidiaries (107 ) (27 ) — 134 — Comprehensive income 208 41 235 (268 ) 216 Comprehensive income attributable to non-controlling interests — — (8 ) — (8 ) Comprehensive income attributable to ICE $ 208 $ 41 $ 227 $ (268 ) $ 208 Intercontinental Exchange, Inc. Condensed Consolidating Statements of Cash Flows Three Months Ended March 31, 2016 (In millions) ICE (Parent) Subsidiary Subsidiary Non-Guarantors Consolidating Adjustments Consolidated Total Net cash provided by (used in) operating activities $ (15 ) $ 24 $ 609 $ (21 ) $ 597 Investing activities: Increase in restricted cash — — (3 ) — (3 ) Loans to subsidiaries 131 70 (627 ) 426 — Capital expenditures, capitalized software development costs and other — — (56 ) — (56 ) Net cash provided by (used in) investing activities 131 70 (686 ) 426 (59 ) Financing activities: Repayments of commercial paper, net (543 ) — — — (543 ) Intercompany borrowing 573 (94 ) (53 ) (426 ) — Dividends to shareholders (102 ) — — — (102 ) Intercompany dividends — — (21 ) 21 — Payments relating to treasury shares received for restricted stock tax payments and stock option exercises (47 ) — — — (47 ) Other financing activities 3 — (8 ) — (5 ) Net cash used in financing activities (116 ) (94 ) (82 ) (405 ) (697 ) Net decrease in cash and cash equivalents — — (159 ) — (159 ) Cash and cash equivalents, beginning of period 1 — 626 — 627 Cash and cash equivalents, end of period $ 1 $ — $ 467 $ — $ 468 Intercontinental Exchange, Inc. Condensed Consolidating Statements of Cash Flows Three Months Ended March 31, 2015 (In millions) ICE (Parent) Subsidiary Guarantor - NYSE Holdings Subsidiary Non-Guarantors Consolidating Adjustments Consolidated Total Net cash provided by (used in) operating activities $ 82 $ (612 ) $ 1,008 $ (13 ) $ 465 Investing activities: Decrease in restricted cash — — 34 — 34 Loans to subsidiaries — 73 (707 ) 634 — Additional contribution to equity method investee — — (60 ) — (60 ) Capital expenditures, capitalized software development costs and other — — (60 ) — (60 ) Net cash provided by (used in) investing activities — 73 (793 ) 634 (86 ) Financing activities: Proceeds from commercial paper, net 35 — — — 35 Intercompany borrowing 173 534 (73 ) (634 ) — Dividends to shareholders (73 ) — — — (73 ) Intercompany dividends — — (13 ) 13 — Repurchases of common stock (196 ) — — — (196 ) Other financing activities (19 ) — (15 ) — (34 ) Net cash provided by (used in) financing activities (80 ) 534 (101 ) (621 ) (268 ) Effect of exchange rates on cash and cash equivalents — — (11 ) — (11 ) Net increase (decrease) in cash and cash equivalents 2 (5 ) 103 — 100 Cash and cash equivalents, beginning of period 6 5 641 — 652 Cash and cash equivalents, end of period $ 8 $ — $ 744 $ — $ 752

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per common share computations for the three months ended March 31, 2016 and 2015 (in millions, except per share amounts): Three Months Ended 2016 2015 Basic: Net income attributable to Intercontinental Exchange, Inc. $ 369 $ 315 Weighted average common shares outstanding 119 112 Basic earnings per common share $ 3.10 $ 2.81 Diluted: Weighted average common shares outstanding 119 112 Effect of dilutive securities - stock options and restricted shares 1 — Diluted weighted average common shares outstanding 120 112 Diluted earnings per common share $ 3.08 $ 2.80 Basic earnings per common share is calculated using the weighted average common shares outstanding during the period. The weighted average common shares outstanding increased for the three months ended March 31, 2016 , over the prior year period, primarily due to stock issued for the Interactive Data and Trayport acquisitions in December 2015, partially offset by stock repurchases during 2015. We issued 6.5 million shares of our common stock to Interactive Data stockholders and 2.5 million shares of our common stock to Trayport stockholders, weighted to show these additional shares outstanding for periods after the respective acquisition dates (Note 3). Common equivalent shares from stock options and restricted stock awards, using the treasury stock method, are included in the diluted per share calculations unless the effect of their inclusion would be antidilutive. During the three months ended March 31, 2016 and 2015 , 130,109 and 289,269 outstanding stock options, respectively, were not included in the computation of diluted earnings per common share since the inclusion would have had an antidilutive effect because the outstanding stock option exercise prices were greater than the average market price of the common shares during the relevant periods. Certain figures in the table above may not recalculate due to rounding.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events We have evaluated subsequent events and determined that no events or transactions met the definition of a subsequent event for purposes of recognition or disclosure in the accompanying consolidated financial statements.

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared by us in accordance with U.S. generally accepted accounting principles, or GAAP, pursuant to the rules and regulations of the Securities and Exchange Commission, or SEC, regarding interim financial reporting. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with our audited consolidated financial statements and related notes thereto for the year ended December 31, 2015 . The accompanying unaudited consolidated financial statements reflect all adjustments that are, in our opinion, necessary for a fair presentation of results for the interim periods presented. These adjustments are of a normal recurring nature. Preparing financial statements requires us to make certain estimates and assumptions that affect the amounts that are reported in the consolidated financial statements and accompanying disclosures. Although these estimates are based on our best knowledge of current events and actions that we may undertake in the future, actual results may be different from these estimates. The results of operations for the three months ended March 31, 2016 are not necessarily indicative of the results to be expected for any future period or the full fiscal year. The accompanying unaudited consolidated financial statements include the accounts of us and our wholly-owned and controlled subsidiaries. All intercompany balances and transactions between us and our wholly-owned and controlled subsidiaries have been eliminated in the consolidation. For those consolidated subsidiaries in which our ownership is less than 100% and for which we have control over the assets and liabilities and the management of the entity, the outside stockholders’ interests are shown as non-controlling interests. In instances where outside stockholders' hold an option to require us to repurchase the outside stockholders' interest, these interests are shown as redeemable non-controlling interests.
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	New and Recently Adopted Accounting Pronouncements In January 2016, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, or ASU 2016-01. ASU 2016-01 provides updated guidance for the recognition, measurement, presentation, and disclosure of certain financial assets and liabilities, including the requirement that equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) are to be measured at fair value with changes in fair value recognized in net income. ASU 2016-01 is effective for annual and interim reporting periods beginning after December 15, 2017. On the adoption of ASU 2016-01, changes in the fair value of our equity investment in Cetip, S.A., or Cetip, will no longer be reflected in accumulated other comprehensive income but will be recognized in net income. As of March 31, 2016, our investment in Cetip included an accumulated unrealized gain of $28 million (Note 10). During the three months ended March 31, 2016, the change in the fair value of the Cetip investment was an increase of $54 million . Once adopted, such fair value changes will be reported as other income (expense) under ASU 2016-01. We are currently evaluating this guidance to determine any additional potential impact on our consolidated financial statements upon adoption. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases, or ASU 2016-02. ASU 2016-02 requires an entity to recognize both assets and liabilities arising from financing and operating leases, along with additional qualitative and quantitative disclosures. A lessee should recognize in its balance sheet a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. ASU 2016-02 is effective for annual and interim reporting periods beginning after December 15, 2018, with early adoption permitted. We are currently evaluating this guidance to determine the potential impact on our consolidated financial statements and whether we will adopt this guidance early. In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Stock Compensation (Topic 718) - Improvements to Employee Share-Based Payment Accounting , or ASU 2016-09. ASU 2016-09 provides updated guidance for the recognition, measurement, presentation, and disclosure of certain components of stock compensation. The guidance includes the recognition of all excess tax benefits/deficiencies in the statement of income and classification as operating activities within the statement of cash flows, as well as the option to account for forfeitures based on awards expected to vest or as they occur. ASU 2016-09 is effective for annual and interim reporting periods beginning after December 15, 2017, with early adoption permitted. We decided to adopt ASU 2016-09 early for the period ended March 31, 2016 on a prospective basis. As a result, we recorded an $11 million excess tax benefit within our consolidated statement of income for the three months ended March 31, 2016 (Note 8). No other terms of the adopted guidance resulted in any significant impact on our consolidated financial statements.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to the current period’s financial statement presentation. For the three months ended March 31, 2015, we reclassified $24 million of transaction based expenses in transaction and clearing revenues, net to transaction based expenses for consistency of how we report our cash equities markets. The amounts reclassified to transaction based expenses relate to equity options markets. For the three months ended March 31, 2015, we also reclassified $13 million in connectivity fees from other revenues to data services revenues.

Goodwill and Other Intangible22

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedules of intangible assets and goodwill	The following is a summary of the activity in the goodwill balance for the three months ended March 31, 2016 (in millions): Goodwill balance at December 31, 2015 $ 12,079 Foreign currency translation (23 ) Other activity, net 48 Goodwill balance at March 31, 2016 $ 12,104 The following is a summary of the activity in the other intangible assets balance for the three months ended March 31, 2016 (in millions): Other intangible assets balance at December 31, 2015 $ 10,758 Foreign currency translation (40 ) Other activity, net (6 ) Amortization of other intangible assets (82 ) Other intangible assets balance at March 31, 2016 $ 10,630

Deferred Revenue Deferred Rev23

Deferred Revenue Deferred Revenue (Tables)	3 Months Ended
	Mar. 31, 2016
Revenue Recognition [Abstract]
Deferred Revenue Rollforward [Table Text Block]	The changes in our deferred revenue during the three months ended March 31, 2016 are as follows (in millions): Annual Listings Revenue Original Listings Revenues Other Listings Revenues Data Services and Other Revenues Total Deferred revenue balance at December 31, 2015 $ — $ 50 $ 59 $ 81 $ 190 Additions 363 6 24 143 536 Amortization (91 ) (3 ) (9 ) (95 ) (198 ) Deferred revenue balance at March 31, 2016 $ 272 $ 53 $ 74 $ 129 $ 528

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule of Total Debt	total debt, including short-term and long-term debt, consisted of the following as of March 31, 2016 and December 31, 2015 (in millions): As of As of Debt: Commercial Paper $ 2,048 $ 2,591 Short-term debt 2,048 2,591 NYSE USD Notes (2.00% senior unsecured notes due October 5, 2017) 852 852 2018 Senior Notes (2.50% senior unsecured notes due October 15, 2018) 597 597 2020 Senior Notes (2.75% senior unsecured notes due December 1, 2020) 1,239 1,239 2023 Senior Notes (4.00% senior unsecured notes due October 15, 2023) 789 789 2025 Senior Notes (3.75% senior unsecured notes due December 1, 2025) 1,241 1,240 Long-term debt 4,718 4,717 Total debt $ 6,766 $ 7,308

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Summary of Stock Options	The following is a summary of stock options for the three months ended March 31, 2016 : Number of Options Weighted Average Outstanding at December 31, 2015 774,551 $ 159.66 Granted 150,323 250.07 Exercised (28,098 ) 145.07 Outstanding at March 31, 2016 896,776 175.28
Details of Stock Options Outstanding	Details of stock options outstanding as of March 31, 2016 are as follows: Number of Options Weighted Average Weighted Average Aggregate Vested or expected to vest 896,776 $ 175.28 6.7 $ 56 Exercisable 596,892 $ 148.32 5.5 $ 52
Stock Options Valuation Assumptions	During the three months ended March 31, 2016 and 2015 , we used the weighted-average assumptions in the table below to compute the value of all options for shares of common stock granted to employees: Three Months Ended March 31, Assumptions: 2016 2015 Risk-free interest rate 1.51 % 1.08 % Expected life in years 5.0 5.0 Expected volatility 24 % 24 % Expected dividend yield 1.36 % 1.25 % Estimated weighted-average fair value of options granted per share $ 49.39 $ 40.94
Summary of Nonvested Restricted Stock Options	The following is a summary of the non-vested restricted shares for the three months ended March 31, 2016 : Number of Weighted Average Non-vested at December 31, 2015 1,254,235 $ 199.44 Granted 536,784 247.57 Vested (412,048) 184.66 Forfeited (19,020) 223.31 Non-vested at March 31, 2016 1,359,951 223.04

Clearing Organizations (Tables)

Clearing Organizations (Tables)	3 Months Ended
	Mar. 31, 2016
Brokers and Dealers [Abstract]
Schedule Of Margin Deposits And Guaranty Funds Assets	As of March 31, 2016 , original margin and guaranty fund cash deposits are as follows for the ICE Clearing Houses (in millions): ICE Clear Europe ICE Clear ICE Clear U.S. Other ICE Clearing Houses Total Original margin $ 28,795 $ 14,064 $ 4,383 $ 172 $ 47,414 Guaranty fund 2,981 1,596 325 13 4,915 Total $ 31,776 $ 15,660 $ 4,708 $ 185 $ 52,329 As of December 31, 2015 , original margin and guaranty fund cash deposits are as follows for the ICE Clearing Houses (in millions): ICE Clear Europe ICE Clear ICE Clear U.S. Other ICE Clearing Houses Total Original margin $ 28,454 $ 13,750 $ 3,882 $ 159 $ 46,245 Guaranty fund 2,589 2,011 311 13 4,924 Total $ 31,043 $ 15,761 $ 4,193 $ 172 $ 51,169
Schedule Of Assets Pledged By Clearing Members As Original Margin And Guaranty Fund Deposits Table	As of March 31, 2016 and December 31, 2015 , the assets pledged by the clearing members as original margin and guaranty fund deposits for each of the ICE Clearing Houses are detailed below (in millions): As of March 31, 2016 As of December 31, 2015 ICE Clear Europe ICE Clear Credit ICE Clear U.S. Other ICE Clearing Houses ICE Clear Europe ICE Clear Credit ICE Clear U.S. Other ICE Clearing Houses Original margin: Government securities at face value $ 21,153 $ 5,659 $ 8,161 $ 44 $ 21,690 $ 4,989 $ 8,161 $ 97 Letters of credit — — — 398 — — — 381 Total $ 21,153 $ 5,659 $ 8,161 $ 442 $ 21,690 $ 4,989 $ 8,161 $ 478 Guaranty fund: Government securities at face value $ 256 $ 290 $ 158 $ 61 $ 267 $ 229 $ 158 $ 61

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Financial Instruments Measured at Fair Value on a Recurring Basis	Financial instruments measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015 are as follows (in millions): As of March 31, 2016 As of December 31, 2015 Level 1 Level 2 and 3 Total Level 1 Level 2 and 3 Total Assets at fair value: Long-term investment in equity securities $ 352 $ — $ 352 $ 299 $ — $ 299 U.S. Treasury securities 452 — 452 449 — 449 Mutual Funds 25 — 25 29 — 29 Total assets at fair value $ 829 $ — $ 829 $ 777 $ — $ 777

Condensed Consolidating Finan28

Condensed Consolidating Financial Statements (Tables)	3 Months Ended
	Mar. 31, 2016
Condensed Consolidating Financial Statements [Abstract]
Condensed Balance Sheet	Condensed Consolidating Balance Sheets As of March 31, 2016 (In millions) ICE (Parent) Subsidiary Subsidiary Consolidating Adjustments Consolidated Total Current assets: Cash and cash equivalents $ 1 $ — $ 467 $ — $ 468 Intercompany receivable 3,045 — — (3,045 ) — Margin deposits and guaranty funds — — 52,329 — 52,329 Notes receivable from affiliate, current — 281 38 (319 ) — Other current assets 5 — 1,752 — 1,757 Total current assets 3,051 281 54,586 (3,364 ) 54,554 Property and equipment, net — — 1,018 — 1,018 Other non-current assets: Goodwill and other intangible assets, net — — 22,734 — 22,734 Investment in subsidiaries 21,514 9,913 — (31,427 ) — Notes receivable from affiliate, non-current — 3,482 4,036 (7,518 ) — Other non-current assets 18 11 825 — 854 Total other non-current assets 21,532 13,406 27,595 (38,945 ) 23,588 Total assets $ 24,583 $ 13,687 $ 83,199 $ (42,309 ) $ 79,160 Current liabilities: Short-term debt $ 2,048 $ — $ — $ — $ 2,048 Margin deposits and guaranty funds — — 52,329 — 52,329 Intercompany payable — 1,636 1,409 (3,045 ) — Notes payable to affiliates, current 319 — — (319 ) — Other current liabilities 61 — 1,198 — 1,259 Total current liabilities 2,428 1,636 54,936 (3,364 ) 55,636 Non-current liabilities: Long-term debt 3,866 852 — — 4,718 Notes payable to affiliates, non-current 3,241 795 3,482 (7,518 ) — Other non-current liabilities — — 3,692 — 3,692 Total non-current liabilities 7,107 1,647 7,174 (7,518 ) 8,410 Total liabilities 9,535 3,283 62,110 (10,882 ) 64,046 Redeemable non-controlling interest — — 34 — 34 Equity: Total shareholders' equity 15,048 10,404 21,023 (31,427 ) 15,048 Non-controlling interest in consolidated subsidiaries — — 32 — 32 Total equity 15,048 10,404 21,055 (31,427 ) 15,080 Total liabilities and equity $ 24,583 $ 13,687 $ 83,199 $ (42,309 ) $ 79,160 Intercontinental Exchange, Inc. Condensed Consolidating Balance Sheets As of December 31, 2015 (In millions) ICE (Parent) Subsidiary Subsidiary Consolidating Adjustments Consolidated Total Current assets: Cash and cash equivalents $ 1 $ — $ 626 $ — $ 627 Intercompany receivable 3,176 — — (3,176 ) — Margin deposits and guaranty funds — — 51,169 — 51,169 Note receivable from affiliate, current — 705 77 (782 ) — Other current assets 5 — 1,512 — 1,517 Total current assets 3,182 705 53,384 (3,958 ) 53,313 Property and equipment, net — — 1,037 — 1,037 Other non-current assets: Goodwill and other intangible assets, net — — 22,837 — 22,837 Investment in subsidiaries 21,120 9,840 — (30,960 ) — Note receivable from affiliate, non-current — 3,128 3,370 (6,498 ) — Other non-current assets 20 10 770 — 800 Total other non-current assets 21,140 12,978 26,977 (37,458 ) 23,637 Total assets $ 24,322 $ 13,683 $ 81,398 $ (41,416 ) $ 77,987 Current liabilities: Short-term debt $ 2,591 $ — $ — $ — $ 2,591 Margin deposits and guaranty funds — — 51,169 — 51,169 Intercompany payable — 1,784 1,392 (3,176 ) — Notes payable to affiliates, current 358 — 424 (782 ) — Other current liabilities 36 — 947 — 983 Total current liabilities 2,985 1,784 53,932 (3,958 ) 54,743 Non-current liabilities: Long-term debt 3,865 852 — — 4,717 Notes payable to affiliates, non-current 2,629 741 3,128 (6,498 ) — Other non-current liabilities 35 — 3,617 — 3,652 Total non-current liabilities 6,529 1,593 6,745 (6,498 ) 8,369 Total liabilities 9,514 3,377 60,677 (10,456 ) 63,112 Redeemable non-controlling interest — — 35 — 35 Equity: Total shareholders' equity 14,808 10,306 20,654 (30,960 ) 14,808 Non-controlling interest in consolidated subsidiaries — — 32 — 32 Total equity 14,808 10,306 20,686 (30,960 ) 14,840 Total liabilities and equity $ 24,322 $ 13,683 $ 81,398 $ (41,416 ) $ 77,987
Condensed Income Statement	Intercontinental Exchange, Inc. Condensed Consolidating Statements of Income Three Months Ended March 31, 2015 (In millions) ICE (Parent) Subsidiary Guarantor - NYSE Holdings Subsidiary Consolidating Adjustments Consolidated Total Revenues: Transaction and clearing, net $ — $ — $ 836 $ — $ 836 Data services — — 200 — 200 Listings and other revenues — — 144 — 144 Revenues — — 1,180 — 1,180 Transaction-based expenses — — 330 — 330 Revenues, less transaction-based expenses — — 850 — 850 Operating expenses: Compensation and benefits — — 151 — 151 Technology and communication — — 51 — 51 Acquisition-related transaction and integration costs — — 19 — 19 Selling, general, administrative and other 1 — 77 — 78 Depreciation and amortization — — 89 — 89 Operating expenses 1 — 387 — 388 Operating income (loss) (1 ) — 463 — 462 Total other income (expense), net 18 (30 ) (9 ) — (21 ) Income (loss) before income taxes 17 (30 ) 454 — 441 Income tax expense 7 — 111 — 118 Equity earnings from subsidiaries 305 97 — (402 ) — Net income $ 315 $ 67 $ 343 $ (402 ) $ 323 Net income attributable to non-controlling interest — — (8 ) — (8 ) Net income attributable to ICE $ 315 $ 67 $ 335 $ (402 ) $ 315 Intercontinental Exchange, Inc. Condensed Consolidating Statements of Income Three Months Ended March 31, 2016 (In millions) ICE (Parent) Subsidiary Subsidiary Consolidating Adjustments Consolidated Total Revenues: Transaction and clearing, net $ — $ — $ 929 $ — $ 929 Data services — — 477 — 477 Listings and other revenues — — 148 — 148 Revenues — — 1,554 — 1,554 Transaction-based expenses — — 400 — 400 Revenues, less transaction-based expenses — — 1,154 — 1,154 Operating expenses: Compensation and benefits — — 236 — 236 Technology and communication — — 92 — 92 Acquisition-related transaction and integration costs — — 27 — 27 Selling, general, administrative and other — — 72 — 72 Depreciation and amortization — — 143 — 143 Operating expenses — — 570 — 570 Operating income — — 584 — 584 Intercompany interest on loans (4 ) 8 (4 ) — — Other income (expense), net (41 ) (4 ) 1 — (44 ) Total other income (expense), net (45 ) 4 (3 ) — (44 ) Income (loss) before income taxes (45 ) 4 581 — 540 Income tax expense — — 163 — 163 Equity earnings from subsidiaries 414 113 — (527 ) — Net income $ 369 $ 117 $ 418 $ (527 ) $ 377 Net income attributable to non-controlling interest — — (8 ) — (8 ) Net income attributable to ICE $ 369 $ 117 $ 410 $ (527 ) $ 369
Condensed Comprehensive Income Statement	Intercontinental Exchange, Inc. Condensed Consolidating Statements of Comprehensive Income Three Months Ended March 31, 2016 (In millions) ICE (Parent) Subsidiary Subsidiary Consolidating Adjustments Consolidated Total Net income $ 369 $ 117 $ 418 $ (527 ) $ 377 Other comprehensive income (loss): Foreign currency translation adjustments — — (74 ) — (74 ) Change in fair value of available-for-sale-securities — — 54 — 54 Total other comprehensive loss — — (20 ) — (20 ) Comprehensive loss of subsidiaries (25 ) (19 ) — 44 — Comprehensive income 344 98 398 (483 ) 357 Comprehensive income attributable to non-controlling interests — — (8 ) — (8 ) Comprehensive income attributable to ICE $ 344 $ 98 $ 390 $ (483 ) $ 349 Intercontinental Exchange, Inc. Condensed Consolidating Statements of Comprehensive Income Three Months Ended March 31, 2015 (In millions) ICE (Parent) Subsidiary Guarantor - NYSE Holdings Subsidiary Consolidating Adjustments Consolidated Total Net income $ 315 $ 67 $ 343 $ (402 ) $ 323 Other comprehensive income (loss): Foreign currency translation adjustments — 1 (38 ) — (37 ) Change in fair value of available-for-sale-securities — — (70 ) — (70 ) Total other comprehensive income (loss) — 1 (108 ) — (107 ) Comprehensive loss of subsidiaries (107 ) (27 ) — 134 — Comprehensive income 208 41 235 (268 ) 216 Comprehensive income attributable to non-controlling interests — — (8 ) — (8 ) Comprehensive income attributable to ICE $ 208 $ 41 $ 227 $ (268 ) $ 208
Condensed Cash Flow Statement	Intercontinental Exchange, Inc. Condensed Consolidating Statements of Cash Flows Three Months Ended March 31, 2016 (In millions) ICE (Parent) Subsidiary Subsidiary Non-Guarantors Consolidating Adjustments Consolidated Total Net cash provided by (used in) operating activities $ (15 ) $ 24 $ 609 $ (21 ) $ 597 Investing activities: Increase in restricted cash — — (3 ) — (3 ) Loans to subsidiaries 131 70 (627 ) 426 — Capital expenditures, capitalized software development costs and other — — (56 ) — (56 ) Net cash provided by (used in) investing activities 131 70 (686 ) 426 (59 ) Financing activities: Repayments of commercial paper, net (543 ) — — — (543 ) Intercompany borrowing 573 (94 ) (53 ) (426 ) — Dividends to shareholders (102 ) — — — (102 ) Intercompany dividends — — (21 ) 21 — Payments relating to treasury shares received for restricted stock tax payments and stock option exercises (47 ) — — — (47 ) Other financing activities 3 — (8 ) — (5 ) Net cash used in financing activities (116 ) (94 ) (82 ) (405 ) (697 ) Net decrease in cash and cash equivalents — — (159 ) — (159 ) Cash and cash equivalents, beginning of period 1 — 626 — 627 Cash and cash equivalents, end of period $ 1 $ — $ 467 $ — $ 468 Intercontinental Exchange, Inc. Condensed Consolidating Statements of Cash Flows Three Months Ended March 31, 2015 (In millions) ICE (Parent) Subsidiary Guarantor - NYSE Holdings Subsidiary Non-Guarantors Consolidating Adjustments Consolidated Total Net cash provided by (used in) operating activities $ 82 $ (612 ) $ 1,008 $ (13 ) $ 465 Investing activities: Decrease in restricted cash — — 34 — 34 Loans to subsidiaries — 73 (707 ) 634 — Additional contribution to equity method investee — — (60 ) — (60 ) Capital expenditures, capitalized software development costs and other — — (60 ) — (60 ) Net cash provided by (used in) investing activities — 73 (793 ) 634 (86 ) Financing activities: Proceeds from commercial paper, net 35 — — — 35 Intercompany borrowing 173 534 (73 ) (634 ) — Dividends to shareholders (73 ) — — — (73 ) Intercompany dividends — — (13 ) 13 — Repurchases of common stock (196 ) — — — (196 ) Other financing activities (19 ) — (15 ) — (34 ) Net cash provided by (used in) financing activities (80 ) 534 (101 ) (621 ) (268 ) Effect of exchange rates on cash and cash equivalents — — (11 ) — (11 ) Net increase (decrease) in cash and cash equivalents 2 (5 ) 103 — 100 Cash and cash equivalents, beginning of period 6 5 641 — 652 Cash and cash equivalents, end of period $ 8 $ — $ 744 $ — $ 752

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Reconciliation of the Numerators and Denominators of the Basic and Diluted Earnings Per Common Share	The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per common share computations for the three months ended March 31, 2016 and 2015 (in millions, except per share amounts): Three Months Ended 2016 2015 Basic: Net income attributable to Intercontinental Exchange, Inc. $ 369 $ 315 Weighted average common shares outstanding 119 112 Basic earnings per common share $ 3.10 $ 2.81 Diluted: Weighted average common shares outstanding 119 112 Effect of dilutive securities - stock options and restricted shares 1 — Diluted weighted average common shares outstanding 120 112 Diluted earnings per common share $ 3.08 $ 2.80

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) - USD ($) $ in Millions	Dec. 14, 2015	Dec. 11, 2015	Mar. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill acquired			$ 12,104	$ 12,079
Interactive Data Holdings Corporation Acquisition [Member]
Business Acquisition [Line Items]
Net assets acquired	$ 273
Goodwill acquired	3,248
Business Combination, Consideration Transferred	6,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 6.5
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Consideration Transferred			23
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities			20
Goodwill, Purchase Accounting Adjustments			48
Business Acquisition, Percentage of Voting Interests Acquired	100.00%
TRAYPORT [Member]
Business Acquisition [Line Items]
Net assets acquired		$ 7
Goodwill acquired		389
Business Combination, Consideration Transferred		620
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable		$ 2.5
Business Acquisition, Percentage of Voting Interests Acquired		100.00%
Data/Databases [Member] | Interactive Data Holdings Corporation Acquisition [Member]
Business Acquisition [Line Items]
Finite-Lived Intangible Assets, Purchase Accounting Adjustments			33
Trademarks and Trade Names [Member] | Interactive Data Holdings Corporation Acquisition [Member]
Business Acquisition [Line Items]
Finite-Lived Intangible Assets, Purchase Accounting Adjustments			21
Customer Relationships [Member] | Interactive Data Holdings Corporation Acquisition [Member]
Business Acquisition [Line Items]
Finite-Lived Intangible Assets, Purchase Accounting Adjustments			$ 17
Senior Notes [Member] | Interactive Data Holdings Corporation Acquisition [Member]
Business Acquisition [Line Items]
Proceeds from Issuance of Debt	$ 2,500
Revolving Credit Facility [Member] | Interactive Data Holdings Corporation Acquisition [Member]
Business Acquisition [Line Items]
Proceeds from Lines of Credit	$ 1,600			$ 1,600

Acquisitions (Purchase Price Al

Acquisitions (Purchase Price Allocation) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015	Dec. 14, 2015	Dec. 11, 2015
Business Acquisition [Line Items]
Goodwill	$ 12,104	$ 12,079
TRAYPORT [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill				$ 274
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net				7
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities				(50)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net				620
Goodwill				$ 389
Interactive Data Holdings Corporation Acquisition [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents			$ 301
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill			2,883
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net			273
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities			(1,071)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net			5,634
Goodwill			$ 3,248

Acquisitions (Identifiable Inta

Acquisitions (Identifiable Intangible Assets Schedule) (Details) - USD ($) $ in Millions	Dec. 14, 2015	Mar. 31, 2016	Dec. 31, 2015	Dec. 11, 2015
Acquired Finite-Lived Intangible Assets [Line Items]
Other intangible assets, net		$ 10,630	$ 10,758
Interactive Data Holdings Corporation Acquisition [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets, Foreign Currency Translation Gain (Loss)		(30)
Finite-Lived Intangible Assets, Accumulated Amortization		(48)
Intangible Assets, Gross (Excluding Goodwill)	$ 2,883
Other intangible assets, net		2,805
Interactive Data Holdings Corporation Acquisition [Member] | Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	2,452
Finite Lived Intangible Assets, Foreign Currency Translation Gain (Loss)		(26)
Finite-Lived Intangible Assets, Accumulated Amortization		(30)
Finite-Lived Intangible Assets, Net		2,396
Interactive Data Holdings Corporation Acquisition [Member] | Developed Technology Rights [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	168
Finite Lived Intangible Assets, Foreign Currency Translation Gain (Loss)		(2)
Finite-Lived Intangible Assets, Accumulated Amortization		(7)
Finite-Lived Intangible Assets, Net		159
Interactive Data Holdings Corporation Acquisition [Member] | In Process Research and Development [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets, Foreign Currency Translation Gain (Loss)		0
Finite-Lived Intangible Assets, Accumulated Amortization		0
Indefinite-lived Intangible Assets Acquired	129	129
Interactive Data Holdings Corporation Acquisition [Member] | Database Rights [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets, Foreign Currency Translation Gain (Loss)		(2)
Finite-Lived Intangible Assets, Accumulated Amortization		(8)
Finite-Lived Intangible Assets, Net		99
Indefinite-lived Intangible Assets Acquired	109
Interactive Data Holdings Corporation Acquisition [Member] | Trademarks and Trade Names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets, Foreign Currency Translation Gain (Loss)		0
Finite-Lived Intangible Assets, Accumulated Amortization		(3)
Finite-Lived Intangible Assets, Net		9
Indefinite-lived Intangible Assets Acquired	12
Interactive Data Holdings Corporation Acquisition [Member] | Market Data Fee and Other [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets, Foreign Currency Translation Gain (Loss)		0
Finite-Lived Intangible Assets, Accumulated Amortization		0
Finite-Lived Intangible Assets, Net		11
Indefinite-lived Intangible Assets Acquired	11
Interactive Data Holdings Corporation Acquisition [Member] | Noncompete Agreements [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets, Foreign Currency Translation Gain (Loss)		0
Finite-Lived Intangible Assets, Accumulated Amortization		0
Finite-Lived Intangible Assets, Net		2
Indefinite-lived Intangible Assets Acquired	2
TRAYPORT [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets, Foreign Currency Translation Gain (Loss)		(16)
Finite-Lived Intangible Assets, Accumulated Amortization		(4)
Intangible Assets, Gross (Excluding Goodwill)				$ 274
Other intangible assets, net		254
TRAYPORT [Member] | Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	242
Finite Lived Intangible Assets, Foreign Currency Translation Gain (Loss)		(14)
Finite-Lived Intangible Assets, Accumulated Amortization		(3)
Finite-Lived Intangible Assets, Net		225
TRAYPORT [Member] | Developed Technology Rights [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	14
Finite Lived Intangible Assets, Foreign Currency Translation Gain (Loss)		(1)
Finite-Lived Intangible Assets, Accumulated Amortization		(1)
Finite-Lived Intangible Assets, Net		12
TRAYPORT [Member] | Trademarks and Trade Names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets, Foreign Currency Translation Gain (Loss)		(1)
Finite-Lived Intangible Assets, Accumulated Amortization		0
Finite-Lived Intangible Assets, Net		$ 17
Indefinite-lived Intangible Assets Acquired	$ 18

Acquisitions (Proforma Informat

Acquisitions (Proforma Information) (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2015USD ($)$ / shares
Business Acquisition [Line Items]
Business Acquisition, Pro Forma Revenue	$ 1,100
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations, Net of Tax	518
Business Acquisition, Pro Forma Net Income (Loss)	$ 333
Business Acquisition, Pro Forma Earnings Per Share, Basic | $ / shares	$ 2.76
Business Acquisition, Pro Forma Earnings Per Share, Diluted | $ / shares	$ 2.74

Short-Term and Long-Term Restri

Short-Term and Long-Term Restricted Cash and Investments (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Restricted Cash and Cash Equivalents Items [Line Items]
Contribution to guarantee fund	$ 262	$ 263

Goodwill and Other Intangible35

Goodwill and Other Intangible Assets (Goodwill Rollforward) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 12,079
Foreign currency translation	(23)
Other activity, net	48
Goodwill, Ending Balance	$ 12,104

Goodwill and Other Intangible36

Goodwill and Other Intangible Assets (Other Intangible Rollforward) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Finite-lived Intangible Assets [Roll Forward]
Other intangible assets, beginning balance	$ 10,758
Foreign currency translation	(40)
Intangible Assets Excluding Goodwill, Discontinued Operations	(6)
Other activity, net	(82)
Other intangible assets, ending balance	$ 10,630

Deferred Revenue Deferred Rev37

Deferred Revenue Deferred Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Movement in Deferred Revenue [Roll Forward]
Deferred revenue balance at December 31, 2014	$ 190
Additions	536
Amortization	(198)
Deferred revenue balance at September 30, 2015	528
Deferred revenue	429	$ 98
Deferred Revenue, Noncurrent	99
Annual Listing Fee Revenue
Movement in Deferred Revenue [Roll Forward]
Deferred revenue balance at December 31, 2014	0
Additions	363
Amortization	(91)
Deferred revenue balance at September 30, 2015	272
Original Listing Fee Revenues
Movement in Deferred Revenue [Roll Forward]
Deferred revenue balance at December 31, 2014	50
Additions	6
Amortization	(3)
Deferred revenue balance at September 30, 2015	53
Other Listing Fee Revenues
Movement in Deferred Revenue [Roll Forward]
Deferred revenue balance at December 31, 2014	59
Additions	24
Amortization	(9)
Deferred revenue balance at September 30, 2015	74
Data Services Fees and Other Revenues
Movement in Deferred Revenue [Roll Forward]
Deferred revenue balance at December 31, 2014	81
Additions	143
Amortization	(95)
Deferred revenue balance at September 30, 2015	$ 129

Debt (Narrative) (Details)

Debt (Narrative) (Details) € in Millions, $ in Millions

Dec. 14, 2015USD ($)

Mar. 31, 2016USD ($)

Mar. 31, 2015USD ($)

Dec. 31, 2015USD ($)

Apr. 03, 2019USD ($)

Aug. 13, 2016USD ($)

May. 13, 2016USD ($)

Nov. 24, 2015USD ($)

Nov. 13, 2015USD ($)

Apr. 03, 2014USD ($)

Nov. 13, 2013USD ($)

Nov. 13, 2013EUR (€)

Oct. 31, 2013

Line of Credit Facility [Line Items]

Line of Credit Facility, Maximum Borrowing Capacity

$ 3,400

$ 3,000

Line of Credit Facility, Additional Borrowing Capacity

1,000

Line of Credit Facility, Funds Reserved For Commercial Paper Program

2,000

Line of Credit Facility, Unreserved Amount

$ 1,400

Cash paid for interest

7

$ 2

Debt Instrument, Face Amount

$ 2,500

Senior Notes

$ 852

Commercial Paper

$ 2,048

2,591

Commercial Paper, Weighted Average Interest Rate

0.54%

Commercial Paper Weighted Average Maturity Period

22 days

Amortization of Debt Discount (Premium)

$ 0

(12)

2015 Three Hundred Sixty Four Day Unsecured Revolving Credit Facility [Member]

Line of Credit Facility [Line Items]

Unsecured Debt, Current

$ 500

Minimum [Member]

Line of Credit Facility [Line Items]

Commercial Paper Maturities

1 day

Maximum [Member]

Line of Credit Facility [Line Items]

Commercial Paper Maturities

89 days

Interactive Data Holdings Corporation Acquisition [Member]

Line of Credit Facility [Line Items]

Payments to Acquire Businesses, Gross

$ 4,100

Interactive Data Holdings Corporation Acquisition [Member] | Revolving Credit Facility [Member]

Line of Credit Facility [Line Items]

Proceeds from Lines of Credit

$ 1,600

1,600

NYSE Euronext EUR Notes (5.375% senior unsecured notes due June 30, 2015)

Line of Credit Facility [Line Items]

Amortization of Debt Discount (Premium)

$ 0

NYSE Euronext USD Notes (2.0% senior unsecured notes due October 5, 2017)

Line of Credit Facility [Line Items]

Fair value of senior notes

$ 859

Two Thousand Twenty Senior Notes [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Face Amount

$ 1,250

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

2.75%

Senior Notes

1,239

789

2018 Senior Notes (2.5% senior unsecured notes due October 15, 2018)

Line of Credit Facility [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

2.50%

Senior Notes

597

1,239

Fair value of senior notes

607

2023 Senior Notes (4.0% senior unsecured notes due October 15, 2023)

Line of Credit Facility [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

4.00%

Senior Notes

789

1,240

Fair value of senior notes

840

NYSE Euronext EUR Notes (5.375% senior unsecured notes due June 30, 2015)

Line of Credit Facility [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

5.375%

5.375%

Debt Instrument, Face Amount

$ 1,100

€ 920

NYSE Euronext USD Notes (2.0% senior unsecured notes due October 5, 2017)

Line of Credit Facility [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

2.00%

2.00%

Debt Instrument, Face Amount

$ 850

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

2.00%

2.00%

Senior Notes

852

$ 597

Two Thousand Twenty Five Senior Notes [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Face Amount

$ 1,250

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

3.75%

Senior Notes

$ 1,241

Subsequent Event [Member]

Line of Credit Facility [Line Items]

Line of Credit Facility, Maximum Borrowing Capacity

$ 3,000

Subsequent Event [Member] | 2015 Three Hundred Sixty Four Day Unsecured Revolving Credit Facility [Member]

Line of Credit Facility [Line Items]

Line of Credit Facility, Maximum Borrowing Capacity

$ 250

Subsequent Event, One [Member] | 2015 Three Hundred Sixty Four Day Unsecured Revolving Credit Facility [Member]

Line of Credit Facility [Line Items]

Line of Credit Facility, Maximum Borrowing Capacity

$ 375

Debt (Total Debt Schedule) (Det

Debt (Total Debt Schedule) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Commercial Paper	$ 2,048	$ 2,591
Short-term debt	2,048
Senior Notes		852
Debt	6,766
Long term debt	4,718	4,717
2018 Senior Notes (2.5% senior unsecured notes due October 15, 2018)
Debt Instrument [Line Items]
Senior Notes	597	1,239
Two Thousand Twenty Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	1,239	789
2023 Senior Notes (4.0% senior unsecured notes due October 15, 2023)
Debt Instrument [Line Items]
Senior Notes	789	1,240
NYSE Euronext EUR Notes (5.375% senior unsecured notes due June 30, 2015)
Debt Instrument [Line Items]
Debt		7,308
NYSE Euronext USD Notes (2.0% senior unsecured notes due October 5, 2017)
Debt Instrument [Line Items]
Senior Notes	852	597
Two Thousand Twenty Five Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	$ 1,241
Long term debt		4,717
Term Loan Facility [Member]
Debt Instrument [Line Items]
Short-term debt		$ 2,591

Equity- (Narrative) (Details)

Equity- (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	Feb. 27, 2014	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Feb. 28, 2014
Class of Stock [Line Items]
Share-based Compensation, Excluding Mergers and Acquisition and and Capitalized Portion		$ 29	$ 24
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate		1.36%	1.25%
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value		$ 103	$ 80
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		536,784
Granted, Number of options		150,323
Stock-based compensation		$ 29	24
Tax benefits from stock option plans				$ 19
Number of Options, Exercised		596,892
Weighted Average Exercise Price, Exercised		$ 148.32
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value		$ 223.04		$ 199.44
Employee Stock Option [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value		$ 3	$ 5
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized		$ 13
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition		2 years 1 month 6 days
Time Based And Performance Based Restricted Stock [Member]
Class of Stock [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized		$ 195
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition		1 year 9 months 18 days
Performance Based Restricted Stock Units [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	165,462
Stock-based compensation		$ 5
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 39	34
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	3 years
Share Based Compensation Arrangement By Share Based Payment Shares Reserved For Future Issuance					330,924
Share Based Estimated Compensation Expense Stock Options Remainder Of Current Fiscal Year		$ 19
Performance Based Restricted Stock Units [Member] | Maximum [Member]
Class of Stock [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 80

Equity (Stock Option Activity)

Equity (Stock Option Activity) (Details) - $ / shares	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Equity [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 223.04	$ 199.44
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	536,784
Number of Stock Options [Roll Forward]
Outstanding, Number of options, Beginning balance	774,551
Granted, Number of options	150,323
Exercised, Number of options	(28,098)
Outstanding, Number of options, Ending balance	896,776
Weighted Average Exercise Price Per Option [Abstract]
Outstanding, Weighted average exercise price per share, Beginning Balance	$ 159.66
Granted, Weighted average exercise price per share	250.07
Exercised, Weighted average exercise price per share	145.07
Outstanding, Weighted average exercise price per share, Ending Balance	$ 175.28

Equity (Details of Stock Option

Equity (Details of Stock Options) (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)$ / sharesshares
Equity [Abstract]
Number of Options, Vested or expected to vest | shares	896,776
Weighted Average Exercise Price, Vested or expected to vest | $ / shares	$ 175.28
Weighted Average Remaining Contractual Life, Vested or expected to vest	6 years 8 months 12 days
Aggregate Intrinsic Value, Vested or expected to vest | $	$ 56
Number of Options, Exercised | shares	596,892
Weighted Average Exercise Price, Exercised | $ / shares	$ 148.32
Weighted Average Remaining Contractual Life, Exercised	5 years 6 months
Aggregate Intrinsic Value, Exercised | $	$ 52

Equity (Valuation Assumptions)

Equity (Valuation Assumptions) (Details) - $ / shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Equity [Abstract]
Risk-free interest rate	1.51%	1.08%
Expected life in years	5 years	5 years
Expected volatility	24.00%	24.00%
Expected dividend yield	1.36%	1.25%
Estimated weighted-average fair value of options granted per share	$ 49.39	$ 40.94

Equity (Nonvested Restricted St

Equity (Nonvested Restricted Stock Activity) (Details)	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, Number of nonvested restricted shares, Beginning balance | shares	1,254,235
Granted, Number of nonvested restricted shares | shares	536,784
Exercised, Number of nonvested restricted shares | shares	(412,048)
Expired/Forfeited, Number of nonvested restricted shares | shares	(19,020)
Outstanding, Number of nonvested restricted shares, Ending balance | shares	1,359,951
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Nonvested, Outstanding, Weighted average exercise price per share, Beginning Balance | $ / shares	$ 199.44
Nonvested, Granted, Weighted average exercise price per share | $ / shares	247.57
Nonvested, Exercised, Weighted average exercise price per share | $ / shares	184.66
Nonvested, Expired/Forfeited, Weighted average exercise price per share | $ / shares	223.31
Nonvested, Outstanding, Weighted average exercise price per share, Ending Balance | $ / shares	$ 223.04

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Billions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Effective income tax rate	30.00%	27.00%
Undistributed earnings of foreign subsidiaries	$ 3.1

Clearing Organizations (Narrati

Clearing Organizations (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Principal Transaction Revenue [Line Items]
Cash Deposits Held in Federal Reserve Bank	$ 6,800
Margin deposits and guaranty funds	52,329	$ 51,169
Margin Deposits And Guaranty Funds Assets Received Or Pledged	88,500	87,200
Contribution Of Own Cash To Guaranty Fund	250
ICE Clear Europe
Principal Transaction Revenue [Line Items]
Margin deposits and guaranty funds	31,776	31,043
Contribution Of Own Cash To Guaranty Fund	150
ICE Clear Credit
Principal Transaction Revenue [Line Items]
Margin deposits and guaranty funds	15,660	$ 15,761
Contribution Of Own Cash To Guaranty Fund	50
Ice Clear U.S. [Member]
Principal Transaction Revenue [Line Items]
Contribution Of Own Cash To Guaranty Fund	50
Priority A [Member] | Credit Default Swap [Member] | ICE Clear Europe
Principal Transaction Revenue [Line Items]
Contribution Of Own Cash To Guaranty Fund	25
Priority B [Member] | Credit Default Swap [Member] | ICE Clear Europe
Principal Transaction Revenue [Line Items]
Contribution Of Own Cash To Guaranty Fund	$ 25

Clearing Organizations (ICE Cle

Clearing Organizations (ICE Clearing Houses Schedules) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Clearing Organizations [Line Items]
Original margin	$ 47,414	$ 46,245
Guaranty Fund	4,915	4,924
Total	52,329	51,169
ICE Clear U.S.
Clearing Organizations [Line Items]
Original margin	4,383	3,882
Guaranty Fund	325	311
Total	4,708	4,193
ICE Clear Europe
Clearing Organizations [Line Items]
Original margin	28,795	28,454
Guaranty Fund	2,981	2,589
Total	31,776	31,043
ICE Clear Canada
Clearing Organizations [Line Items]
Original margin	172	159
Guaranty Fund	13	13
Total	185	172
ICE Clear Credit
Clearing Organizations [Line Items]
Original margin	14,064	13,750
Guaranty Fund	1,596	2,011
Total	$ 15,660	$ 15,761

Clearing Organizations (Assets

Clearing Organizations (Assets Pledged by Clearing Members as Original Margin and Guaranty Fund Deposits for ICE Clearing Houses) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Original Margin [Member] | ICE Clear U.S.
Clearing Organizations [Line Items]
Government securities at face value	$ 8,161	$ 8,161
Letters of credit	0	0
Total Original Margin	8,161	8,161
Original Margin [Member] | ICE Clear Europe
Clearing Organizations [Line Items]
Government securities at face value	21,153	21,690
Letters of credit	0	0
Total Original Margin	21,153	21,690
Original Margin [Member] | ICE Clear Canada
Clearing Organizations [Line Items]
Government securities at face value	44	97
Letters of credit	398	381
Total Original Margin	442	478
Original Margin [Member] | ICE Clear Credit
Clearing Organizations [Line Items]
Government securities at face value	5,659	4,989
Letters of credit	0	0
Total Original Margin	5,659	4,989
Guaranty Fund [Member] | ICE Clear Europe
Clearing Organizations [Line Items]
Government securities at face value	256	267
Guaranty Fund [Member] | ICE Clear Canada
Clearing Organizations [Line Items]
Government securities at face value	61	61
Guaranty Fund [Member] | ICE Clear Credit
Clearing Organizations [Line Items]
Government securities at face value	290	229
Guaranty Fund [Member] | Ice Clear Us [Member]
Clearing Organizations [Line Items]
Government securities at face value	$ 158	$ 158

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unsecured Long-term Debt, Noncurrent		$ 852
Long-term investment in equity securities	$ 352	299
U.S. Treasury securities	452	449
Mutual Funds	25	29
Total assets at fair value	829	777
Narrative [Abstract]
Total fair value of cost and equity method investments	116
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term investment in equity securities	352	299
Mutual Funds	25	29
Total assets at fair value	829	777
Narrative [Abstract]
Equity method investments, fair value	452	449
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term investment in equity securities	0	0
U.S. Treasury securities	0	0
Mutual Funds	0	0
Total assets at fair value	0	0
Cash and Cash Equivalents [Member]
Narrative [Abstract]
Equity method investments, fair value	28
Restricted Cash And Investments [Member]
Narrative [Abstract]
Equity method investments, fair value	274
Restricted Cash and Investments, Non Current [Member]
Narrative [Abstract]
Equity method investments, fair value	150
Two Thousand Twenty Senior Notes [Member]
Narrative [Abstract]
Fair value of senior notes	1,280
Senior Notes [Member]
Narrative [Abstract]
Fair value of senior notes	1,280
NYSE Euronext USD Notes [Member]
Narrative [Abstract]
Fair value of senior notes	859
Cetip, S.A. [Member]
Narrative [Abstract]
Available-for-sale Securities, Equity Securities	352
Available-for-sale Securities, Gross Unrealized Gain (Loss)	28
Two Thousand Twenty Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unsecured Long-term Debt, Noncurrent	1,239	789
Two Thousand Twenty Three Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unsecured Long-term Debt, Noncurrent	789	1,240
Narrative [Abstract]
Fair value of senior notes	840
Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unsecured Long-term Debt, Noncurrent	1,241
NYSE Euronext USD Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unsecured Long-term Debt, Noncurrent	852	597
Two Thousand Eighteen Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unsecured Long-term Debt, Noncurrent	597	$ 1,239
Narrative [Abstract]
Fair value of senior notes	$ 607

Condensed Consolidating Finan50

Condensed Consolidating Financial Statements Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Sep. 30, 2014
Current assets:
Cash and cash equivalents	$ 468	$ 627	$ 652	$ 752
Intercompany receivable	0	0
Deposits Assets, Current	52,329	51,169
Note receivable from affiliate, current	0	0
Other current assets	1,757	1,517
Total current assets	54,554	53,313
Property and equipment, net	1,018	1,037
Other non-current assets:
Goodwill and other intangible assets, net	22,734	22,837
Investment in subsidiaries	0	0
Note receivable from affiliate, non-current	0	0
Other non-current assets	854	800
Total other non-current assets	23,588	23,637
Total assets	79,160	77,987
Current liabilities:
Short-term debt	2,048	2,591
Deposit Liability, Current	52,329	51,169
Intercompany payable	0	0
Notes payable to affiliates, current	0	0
Other current liabilities	1,259	983
Total current liabilities	55,636	54,743
Non-current liabilities:
Long-term debt	4,718	4,717
Notes payable to affiliates, non-current	0	0
Other non-current liabilities	3,692	3,652
Total non-current liabilities	8,410	8,369
Total liabilities	64,046	63,112
Redeemable non-controlling interest	34	35
Equity:
Retained earnings	4,415	4,148
Total shareholders' equity	15,048	14,808
Non-controlling interest in consolidated subsidiaries	32	32
Total equity	15,080	14,840	12,392
Total liabilities and equity	79,160	77,987
ICE Group, Inc. (Parent)
Current assets:
Cash and cash equivalents	1	1	6	8
Intercompany receivable	3,045	3,176
Deposits Assets, Current	0	0
Note receivable from affiliate, current	0	0
Other current assets	5	5
Total current assets	3,051	3,182
Property and equipment, net	0	0
Other non-current assets:
Goodwill and other intangible assets, net	0	0
Investment in subsidiaries	21,514	21,120
Note receivable from affiliate, non-current	0	0
Other non-current assets	18	20
Total other non-current assets	21,532	21,140
Total assets	24,583	24,322
Current liabilities:
Short-term debt	2,048	2,591
Deposit Liability, Current	0	0
Intercompany payable	0	0
Notes payable to affiliates, current	319	358
Other current liabilities	61	36
Total current liabilities	2,428	2,985
Non-current liabilities:
Long-term debt	3,866	3,865
Notes payable to affiliates, non-current	3,241	2,629
Other non-current liabilities	0	35
Total non-current liabilities	7,107	6,529
Total liabilities	9,535	9,514
Redeemable non-controlling interest	0	0
Equity:
Total shareholders' equity	15,048	14,808
Non-controlling interest in consolidated subsidiaries	0	0
Total equity	15,048	14,808
Total liabilities and equity	24,583	24,322
Subsidiary Guarantor - NYSE Euronext Holdings, LLC
Current assets:
Cash and cash equivalents	0	0	5	0
Intercompany receivable	0	0
Deposits Assets, Current	0	0
Note receivable from affiliate, current	281	705
Other current assets	0	0
Total current assets	281	705
Property and equipment, net	0	0
Other non-current assets:
Goodwill and other intangible assets, net	0	0
Investment in subsidiaries	9,913	9,840
Note receivable from affiliate, non-current	3,482	3,128
Other non-current assets	11	10
Total other non-current assets	13,406	12,978
Total assets	13,687	13,683
Current liabilities:
Short-term debt	0	0
Deposit Liability, Current	0	0
Intercompany payable	1,636	1,784
Notes payable to affiliates, current	0	0
Other current liabilities	0	0
Total current liabilities	1,636	1,784
Non-current liabilities:
Long-term debt	852	852
Notes payable to affiliates, non-current	795	741
Other non-current liabilities	0	0
Total non-current liabilities	1,647	1,593
Total liabilities	3,283	3,377
Redeemable non-controlling interest	0	0
Equity:
Total shareholders' equity	10,404	10,306
Non-controlling interest in consolidated subsidiaries	0	0
Total equity	10,404	10,306
Total liabilities and equity	13,687	13,683
Subsidiary Non-Guarantors
Current assets:
Cash and cash equivalents	467	626	641	744
Intercompany receivable	0	0
Deposits Assets, Current	52,329	51,169
Note receivable from affiliate, current	38	77
Other current assets	1,752	1,512
Total current assets	54,586	53,384
Property and equipment, net	1,018	1,037
Other non-current assets:
Goodwill and other intangible assets, net	22,734	22,837
Investment in subsidiaries	0	0
Note receivable from affiliate, non-current	4,036	3,370
Other non-current assets	825	770
Total other non-current assets	27,595	26,977
Total assets	83,199	81,398
Current liabilities:
Short-term debt	0	0
Deposit Liability, Current	52,329	51,169
Intercompany payable	1,409	1,392
Notes payable to affiliates, current	0	424
Other current liabilities	1,198	947
Total current liabilities	54,936	53,932
Non-current liabilities:
Long-term debt	0	0
Notes payable to affiliates, non-current	3,482	3,128
Other non-current liabilities	3,692	3,617
Total non-current liabilities	7,174	6,745
Total liabilities	62,110	60,677
Redeemable non-controlling interest	34	35
Equity:
Retained earnings		20,654
Total shareholders' equity	21,023
Non-controlling interest in consolidated subsidiaries	32	32
Total equity	21,055	20,686
Total liabilities and equity	83,199	81,398
Consolidating Adjustments
Current assets:
Cash and cash equivalents	0	0	$ 0	$ 0
Intercompany receivable	(3,045)	(3,176)
Deposits Assets, Current	0	0
Note receivable from affiliate, current	(319)	(782)
Other current assets	0	0
Total current assets	(3,364)	(3,958)
Property and equipment, net	0	0
Other non-current assets:
Goodwill and other intangible assets, net	0	0
Investment in subsidiaries	(31,427)	(30,960)
Note receivable from affiliate, non-current	(7,518)	(6,498)
Other non-current assets	0	0
Total other non-current assets	(38,945)	(37,458)
Total assets	(42,309)	(41,416)
Current liabilities:
Short-term debt	0	0
Deposit Liability, Current	0	0
Intercompany payable	(3,045)	(3,176)
Notes payable to affiliates, current	(319)	(782)
Other current liabilities	0	0
Total current liabilities	(3,364)	(3,958)
Non-current liabilities:
Long-term debt	0	0
Notes payable to affiliates, non-current	(7,518)	(6,498)
Other non-current liabilities	0	0
Total non-current liabilities	(7,518)	(6,498)
Total liabilities	(10,882)	(10,456)
Redeemable non-controlling interest	0	0
Equity:
Total shareholders' equity	(31,427)	(30,960)
Non-controlling interest in consolidated subsidiaries	0	0
Total equity	(31,427)	(30,960)
Total liabilities and equity	$ (42,309)	$ (41,416)

Condensed Consolidating Finan51

Condensed Consolidating Financial Statements Condensed Consolidating Statements of Income (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Condensed Income Statements, Captions [Line Items]
Clearing Fees Revenue	$ 929	$ 836
Market Data Revenue	477	200
Revenues:
Listing Fees and Other Revenues	148	144
Total revenues	1,554	1,180
Transaction-based expenses	400	330
Total revenues, less transaction-based expenses	1,154	850
Operating expenses:
Compensation and benefits	236	151
Technology and communication	92	51
Professional services	32	33
Rent and occupancy	18	16
Acquisition-related transaction costs	27	19
Selling, general and administrative	72	78
Depreciation and amortization	143	89
Total operating expenses	570	388
Operating income	584	462
Interest expense, intercompany	0
Other Operating Income (Expense), Net	(44)
Total other expense, net	(44)	(21)
Income from continuing operations before income taxes	540	441
Income tax expense (benefit)	163	118
Equity earnings from subsidiaries	0	0
Net income (loss)	377	323	$ 1,295
Net income attributable to non-controlling interest	(8)	(8)
Net income (loss) attributable to ICE Group, Inc.	369	315
ICE Group, Inc. (Parent)
Condensed Income Statements, Captions [Line Items]
Clearing Fees Revenue	0	0
Market Data Revenue	0	0
Revenues:
Listing Fees and Other Revenues	0	0
Total revenues	0	0
Transaction-based expenses	0	0
Total revenues, less transaction-based expenses	0	0
Operating expenses:
Compensation and benefits	0	0
Technology and communication	0	0
Acquisition-related transaction costs	0	0
Selling, general and administrative	0	1
Depreciation and amortization	0	0
Total operating expenses	0	1
Operating income	0	(1)
Interest expense, intercompany	(4)
Other Operating Income (Expense), Net	(41)
Total other expense, net	(45)	18
Income from continuing operations before income taxes	(45)	17
Income tax expense (benefit)	0	7
Equity earnings from subsidiaries	414	305
Net income (loss)	369	315
Net income attributable to non-controlling interest	0	0
Net income (loss) attributable to ICE Group, Inc.	369	315
Subsidiary Guarantor - NYSE Euronext Holdings, LLC
Condensed Income Statements, Captions [Line Items]
Clearing Fees Revenue	0	0
Market Data Revenue	0	0
Revenues:
Listing Fees and Other Revenues	0	0
Total revenues	0	0
Transaction-based expenses	0	0
Total revenues, less transaction-based expenses	0	0
Operating expenses:
Compensation and benefits	0	0
Technology and communication	0	0
Acquisition-related transaction costs	0	0
Selling, general and administrative	0	0
Depreciation and amortization	0	0
Total operating expenses	0	0
Operating income	0	0
Interest expense, intercompany	8
Other Operating Income (Expense), Net	(4)
Total other expense, net	4	(30)
Income from continuing operations before income taxes	4	(30)
Income tax expense (benefit)	0	0
Equity earnings from subsidiaries	113	97
Net income (loss)	117	67
Net income attributable to non-controlling interest	0	0
Net income (loss) attributable to ICE Group, Inc.	117	67
Subsidiary Non-Guarantors
Condensed Income Statements, Captions [Line Items]
Clearing Fees Revenue	929	836
Market Data Revenue	477	200
Revenues:
Listing Fees and Other Revenues	148	144
Total revenues	1,554	1,180
Transaction-based expenses	400	330
Total revenues, less transaction-based expenses	1,154	850
Operating expenses:
Compensation and benefits	236	151
Technology and communication	92	51
Acquisition-related transaction costs	27	19
Selling, general and administrative	72	77
Depreciation and amortization	143	89
Total operating expenses	570	387
Operating income	584	463
Interest expense, intercompany	(4)
Other Operating Income (Expense), Net	1
Total other expense, net	(3)	(9)
Income from continuing operations before income taxes	581	454
Income tax expense (benefit)	163	111
Equity earnings from subsidiaries	0	0
Net income (loss)	418	343
Net income attributable to non-controlling interest	(8)	(8)
Net income (loss) attributable to ICE Group, Inc.	410	335
Consolidating Adjustments
Condensed Income Statements, Captions [Line Items]
Clearing Fees Revenue	0	0
Market Data Revenue	0	0
Revenues:
Listing Fees and Other Revenues	0	0
Total revenues	0	0
Transaction-based expenses	0	0
Total revenues, less transaction-based expenses	0	0
Operating expenses:
Compensation and benefits	0	0
Technology and communication	0	0
Acquisition-related transaction costs	0	0
Selling, general and administrative	0	0
Depreciation and amortization	0	0
Total operating expenses	0	0
Operating income	0	0
Interest expense, intercompany	0
Other Operating Income (Expense), Net	0
Total other expense, net	0	0
Income from continuing operations before income taxes	0	0
Income tax expense (benefit)	0	0
Equity earnings from subsidiaries	(527)	(402)
Net income (loss)	(527)	(402)
Net income attributable to non-controlling interest	0	0
Net income (loss) attributable to ICE Group, Inc.	$ (527)	$ (402)

Condensed Consolidating Finan52

Condensed Consolidating Financial Statements Condensed Consolidating Statements of Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Condensed Income Statements, Captions [Line Items]
Net income	$ 377	$ 323	$ 1,295
Other comprehensive income (loss):
Foreign currency translation adjustments	(74)	(37)
Change in fair value of available-for-sale-securities	54	(70)
Other comprehensive loss	(20)	(107)	$ (142)
Comprehensive Income (Loss), Affiliates	0	0
Comprehensive income	357	216
Comprehensive income attributable to non-controlling interests	(8)	(8)
Comprehensive income attributable to ICE Group, Inc.	349	208
ICE Group, Inc. (Parent)
Condensed Income Statements, Captions [Line Items]
Net income	369	315
Other comprehensive income (loss):
Foreign currency translation adjustments	0	0
Change in fair value of available-for-sale-securities	0	0
Other comprehensive loss	0	0
Comprehensive Income (Loss), Affiliates	(25)	(107)
Comprehensive income	344	208
Comprehensive income attributable to non-controlling interests	0	0
Comprehensive income attributable to ICE Group, Inc.	344	208
Subsidiary Guarantor - NYSE Euronext Holdings, LLC
Condensed Income Statements, Captions [Line Items]
Net income	117	67
Other comprehensive income (loss):
Foreign currency translation adjustments	0	1
Change in fair value of available-for-sale-securities	0	0
Other comprehensive loss	0	1
Comprehensive Income (Loss), Affiliates	(19)	(27)
Comprehensive income	98	41
Comprehensive income attributable to non-controlling interests	0	0
Comprehensive income attributable to ICE Group, Inc.	98	41
Subsidiary Non-Guarantors
Condensed Income Statements, Captions [Line Items]
Net income	418	343
Other comprehensive income (loss):
Foreign currency translation adjustments	(74)	(38)
Change in fair value of available-for-sale-securities	54	(70)
Other comprehensive loss	(20)	(108)
Comprehensive Income (Loss), Affiliates	0	0
Comprehensive income	398	235
Comprehensive income attributable to non-controlling interests	(8)	(8)
Comprehensive income attributable to ICE Group, Inc.	390	227
Consolidating Adjustments
Condensed Income Statements, Captions [Line Items]
Net income	(527)	(402)
Other comprehensive income (loss):
Foreign currency translation adjustments	0	0
Change in fair value of available-for-sale-securities	0	0
Other comprehensive loss	0	0
Comprehensive Income (Loss), Affiliates	44	134
Comprehensive income	(483)	(268)
Comprehensive income attributable to non-controlling interests	0	0
Comprehensive income attributable to ICE Group, Inc.	$ (483)	$ (268)

Condensed Consolidating Finan53

Condensed Consolidating Financial Statements Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ 597	$ 465
Cash flows from investing activities:
Increase in restricted cash	(3)	34
Proceeds for (Purchases of) Available for Sale Investments		(60)
Capital expenditures and capitalized software development costs	(56)	(60)
Net cash provided by (used in) investing activities	(59)	(86)
Cash flows from financing activities:
Repayments of debt facilities and issuance costs for debt facilities	(543)	35
Payments relating to treasury shares received for restricted stock tax payments and stock option exercises	0	(196)
Payments Related to Tax Withholding for Share-based Compensation	(47)	(36)
Proceeds From (Payments For) Other Financing Activities, Condensed	(5)	(34)
Intercompany borrowing	0	0
Dividends to shareholders	(102)	(73)
Intercompany dividends	0	0
Net cash used in financing activities from continuing operations	(697)	(268)
Effect of exchange rates on cash and cash equivalents	0	(11)
Net increase (decrease) in cash and cash equivalents	(159)	100
Cash and cash equivalents, beginning of period	627	652
Cash and cash equivalents, end of period	468
Payments for Loans to Subsidiaries and Affiliates	0	0
ICE Group, Inc. (Parent)
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(15)	82
Cash flows from investing activities:
Increase in restricted cash	0	0
Proceeds for (Purchases of) Available for Sale Investments		0
Capital expenditures and capitalized software development costs	0	0
Net cash provided by (used in) investing activities	131	0
Cash flows from financing activities:
Repayments of debt facilities and issuance costs for debt facilities	(543)	35
Payments relating to treasury shares received for restricted stock tax payments and stock option exercises		(196)
Payments Related to Tax Withholding for Share-based Compensation	(47)
Proceeds From (Payments For) Other Financing Activities, Condensed	3	(19)
Intercompany borrowing	573	173
Dividends to shareholders	(102)	(73)
Intercompany dividends	0	0
Net cash used in financing activities from continuing operations	(116)	(80)
Effect of exchange rates on cash and cash equivalents		0
Net increase (decrease) in cash and cash equivalents	0	2
Cash and cash equivalents, beginning of period	1	6
Cash and cash equivalents, end of period	1
Payments for Loans to Subsidiaries and Affiliates	(131)	0
Subsidiary Guarantor - NYSE Euronext Holdings, LLC
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	24	(612)
Cash flows from investing activities:
Increase in restricted cash	0	0
Proceeds for (Purchases of) Available for Sale Investments		0
Capital expenditures and capitalized software development costs	0	0
Net cash provided by (used in) investing activities	70	73
Cash flows from financing activities:
Repayments of debt facilities and issuance costs for debt facilities	0	0
Payments relating to treasury shares received for restricted stock tax payments and stock option exercises		0
Payments Related to Tax Withholding for Share-based Compensation	0
Proceeds From (Payments For) Other Financing Activities, Condensed	0	0
Intercompany borrowing	(94)	534
Dividends to shareholders	0	0
Intercompany dividends	0	0
Net cash used in financing activities from continuing operations	(94)	534
Effect of exchange rates on cash and cash equivalents		0
Net increase (decrease) in cash and cash equivalents	0	(5)
Cash and cash equivalents, beginning of period	0	5
Cash and cash equivalents, end of period	0
Payments for Loans to Subsidiaries and Affiliates	(70)	(73)
Subsidiary Non-Guarantors
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	609	1,008
Cash flows from investing activities:
Increase in restricted cash	(3)	34
Proceeds for (Purchases of) Available for Sale Investments		(60)
Capital expenditures and capitalized software development costs	(56)	(60)
Net cash provided by (used in) investing activities	(686)	(793)
Cash flows from financing activities:
Repayments of debt facilities and issuance costs for debt facilities	0	0
Payments relating to treasury shares received for restricted stock tax payments and stock option exercises		0
Payments Related to Tax Withholding for Share-based Compensation	0
Proceeds From (Payments For) Other Financing Activities, Condensed	(8)	(15)
Intercompany borrowing	(53)	(73)
Dividends to shareholders	0	0
Intercompany dividends	(21)	(13)
Net cash used in financing activities from continuing operations	(82)	(101)
Effect of exchange rates on cash and cash equivalents		(11)
Net increase (decrease) in cash and cash equivalents	(159)	103
Cash and cash equivalents, beginning of period	626	641
Cash and cash equivalents, end of period	467
Payments for Loans to Subsidiaries and Affiliates	627	707
Consolidating Adjustments
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(21)	(13)
Cash flows from investing activities:
Increase in restricted cash	0	0
Proceeds for (Purchases of) Available for Sale Investments		0
Capital expenditures and capitalized software development costs	0	0
Net cash provided by (used in) investing activities	426	634
Cash flows from financing activities:
Repayments of debt facilities and issuance costs for debt facilities	0	0
Payments relating to treasury shares received for restricted stock tax payments and stock option exercises		0
Payments Related to Tax Withholding for Share-based Compensation	0
Proceeds From (Payments For) Other Financing Activities, Condensed	0	0
Intercompany borrowing	(426)	(634)
Dividends to shareholders	0	0
Intercompany dividends	21	13
Net cash used in financing activities from continuing operations	(405)	(621)
Effect of exchange rates on cash and cash equivalents		0
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	0
Payments for Loans to Subsidiaries and Affiliates	$ (426)	$ (634)

Earnings Per Common Share (Narr

Earnings Per Common Share (Narrative) (Details) - $ / shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Income (Loss) from Continuing Operations, Per Basic Share	$ 369,000,000	$ 315,000,000
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	130,109	289,269

Earnings Per Common Share (Reco

Earnings Per Common Share (Reconciliation of Numerators and Denominators of Basic and Diluted Earnings Per Common Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income from continuing operations attributable to non-controlling interest	$ (8)	$ (8)
Net income (loss) attributable to ICE Group, Inc.	$ 369	$ 315
Basic earnings (loss) per share attributable to ICE common shareholders:
Continuing operations	$ 369,000,000	$ 315,000,000
Discontinued operations	119,000,000	112,000,000
Basic earnings per share	3.10	2.81
Diluted earnings (loss) per share attributable to ICE common shareholders:
Continuing operations	119,000,000	112,000,000
Discontinued operations	1,000,000	0
Diluted earnings per share	$ 120,000,000	$ 112,000,000
Diluted weighted average common shares outstanding	0	0

Subsequent Events (Details)

Subsequent Events (Details) - Interactive Data Holdings Corporation Acquisition [Member] $ in Millions	Dec. 14, 2015USD ($)
Subsequent Event [Line Items]
Business Combination, Consideration Transferred	$ 6,000
Payments to Acquire Businesses, Gross	4,100
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 6.5

Segment Reporting (Narrative) (

Segment Reporting (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total revenues, less transaction-based expenses	$ 1,154	$ 850
Operating income	584	462
Total operating expenses	570	388
Net income	377	323	$ 1,295
Trading and Clearing Segment [Member]
Segment Reporting Information [Line Items]
Total revenues, less transaction-based expenses	574	549
Operating income	361	323
Total operating expenses	213	226
Data and Listings Segments [Member]
Segment Reporting Information [Line Items]
Total revenues, less transaction-based expenses	580	301
Operating income	223	139
Total operating expenses	$ 357	$ 162