CME Group Inc. (CME) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the CME Group fourth quarter 2025 earnings call. At this time, I would like to inform all participants that your lines have been placed on a listen-only mode until the question and answer session of today's call. I would now like to turn the call over to Adam Minnick. Please go ahead. Good morning, and I hope you're all doing well today. We released our earnings commentary earlier this morning, which provides extensive details on the fourth quarter and full year results for 2025. I will start with the Safe Harbor language, then I'll turn it over to Terry. Statements made on this call and in the other reference documents on our website that are not historical facts are forward-looking statements. These statements are not guarantees of future performance. They involve risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied in any statement. Detailed information about factors that may affect our performance can be found in the filings with the SEC, which are on our website. Lastly, in the earnings release, you will see a reconciliation between GAAP and non-GAAP measures following the financial statements. With that, I'll turn the call over to Terry. Thanks, Adam, and thank you all for joining us this morning. I'll keep my opening remarks brief to highlight what was quite simply a the most successful year in CME Group's history. Following that, Lynn will provide an overview of our financial results and our 2026 guidance. In addition to Lynn, we have other members of our management team present to answer questions after the prepared remarks. 2025 marked our fifth consecutive year of record volume, with average daily volume increasing 6% to 28.1 million co...