CME Group reported record revenue and volumes for FY2025, with strong momentum across all asset classes. Management highlighted new initiatives including securities clearing, event contracts via FanDuel, 24/7 crypto trading, and Google Cloud migration. Guidance for 2026 shows modest capex and expense growth, with a positive tone on continued demand. FY2025 revenue $6.5B (+6% YoY), record volumes across interest rates, energy, metals, ags, crypto.
CME Group reported record revenue and volumes for FY2025, with strong momentum across all asset classes. Management highlighted new initiatives including securities clearing, event contracts via FanDuel, 24/7 crypto trading, and Google Cloud migration. Guidance for 2026 shows modest capex and expense growth, with a positive tone on continued demand. FY2025 revenue $6.5B (+6% YoY), record volumes across interest rates, energy, metals, ags, crypto.
Management emphasized record volumes and revenues, highlighted growth opportunities in new initiatives like crypto and event contracts, and expressed optimism for 2026 while acknowledging investments.
FY2025 revenue $6.5B (+6% YoY), record volumes across interest rates, energy, metals, ags, crypto.
Q4 adjusted EPS $2.77, revenue $1.65B; market data revenue crossed $800M for first time (13% growth).
Event contracts launched in December with 68M contracts traded in six weeks; partnership with FanDuel.
Management views AI as an enhancer for the business, not a disruptor, noting that data is a critical input for trading strategies and that they are adjusting policies as AI develops.
Record 2025 volumes across all asset classes, strong momentum into 2026.. Management emphasized record volumes and revenues, highlighted growth opportunities in new initiatives like crypto and event contracts, and expressed optimism for 2026 while acknowledging investments.
Capital expenditure guidance for 2026 is approximately $85 million. Cloud migration is progressing, with non-ultra-low latency migration completing early this year and Google's specialized low-latency region available for client testing in 2027.
Management emphasized record volumes and revenues, highlighted growth opportunities in new initiatives like crypto and event contracts, and expressed optimism for 2026 while acknowledging investments.
| 지표 | 기간 | 범위 | 중간값 | 상태 |
|---|---|---|---|---|
| Capex | FY2026 | $0.085B | $0.085B | GUIDED |
Google Cloud migration is on track, reducing on-premise costs and enabling new capabilities for CME.
“Our migration is going very well to plan. We'll complete our non-ultra-low latency migration in early this year.”
Thanks for taking my question. I just wanted to ask a question on the progress on the Google Cloud migration and if you can quantify the expense in the fourth quarter and expected for 2026. Thanks.
Our migration is going very well to plan. We'll complete our non-ultra-low latency migration in early this year. As far as our ultra low latency markets are concerned, the purposeful Chicago region by Google is coming up to plan. It is low latency technology in Google Cloud. It's very novel. So we'll be making that available to clients for testing in 2027. I'll pass it on to Lynn.