CME Group Inc. (CME) Q2 2025 Earnings Call

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WEBVTT 00:00:00.470 -- 00:00:05.717 Welcome to the CME Group second quarter 2025 earnings call. 00:00:05.717 -- 00:00:09.462 At this time, I would like to inform all participants that your lines have been placed 00:00:09.462 -- 00:00:13.828 on a listen-only mode until the question and answer session of today's conference. 00:00:13.828 -- 00:00:16.672 I would now like to turn the call over to Adam Minnick. 00:00:16.672 -- 00:00:19.116 Please go ahead. 00:00:19.116 -- 00:00:21.499 Good morning, and I hope you're all doing well today. 00:00:21.499 -- 00:00:25.985 We released our executive commentary earlier this morning, which provides extensive details 00:00:25.985 -- 00:00:30.254 on the second quarter 2025, which we will be discussing on this call. 00:00:30.254 -- 00:00:34.339 I'll start with the safe harbor language, and then I'll turn it over to Terry. 00:00:34.339 -- 00:00:38.183 Statements made on this call and in the other reference documents on our website that 00:00:38.183 -- 00:00:41.366 are not historical facts are forward-looking statements. 00:00:41.366 -- 00:00:44.029 These statements are not guarantees of future performance. 00:00:44.029 -- 00:00:48.334 They involve risks, uncertainties, and assumptions that are difficult to predict. 00:00:48.334 -- 00:00:52.118 Therefore, actual outcomes and results may differ materially from what is expressed or 00:00:52.118 -- 00:00:56.904 implied in any statement. Detailed information about factors that may affect our performance 00:00:56.904 -- 00:01:00.443 can be found in the filings of the SEC, which are on our website. 00:01:00.443 -- 00:01:04.492 Lastly, in the earnings release, you will see a reconciliation between GAAP and non-GAAP 00:01:04.492 -- 00:01:06.877 measures following the financial statements. 00:01:...