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Exchange groups

The companies, products and regulatory developments shaping the broker industry.

Four exchange groups reported $5.1 billion across data-labelled categories—but it is not a market-data league table

CME, Cboe, Nasdaq and ICE all reported strong growth in information-oriented businesses. A line-by-line reconstruction shows why adding their headline categories mixes feeds, connectivity, indices, workflow software and execution services.

9 Nov 2026Analysis11 min read

Financial results

Deutsche Börse and Euronext reported €240.5m of Q3 treasury income—but dependence was not comparable

Europe’s two exchange groups used collateral and cash balances to produce a combined €240.5 million of third-quarter treasury income. Their disclosures show why the figures should be analysed separately rather than ranked as though definitions and business models were identical.

8 Nov 2026Analysis7 min read