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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2010	Apr. 21, 2010
Statement [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2010
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2010
Entity Registrant Name	CME GROUP INC.
Entity Central Index Key	0001156375
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Class A common stock
Statement [Line Items]
Entity Common Stock, Shares Outstanding		65,685,568
Class B common stock, Class B-1
Statement [Line Items]
Entity Common Stock, Shares Outstanding		625
Class B common stock, Class B-2
Statement [Line Items]
Entity Common Stock, Shares Outstanding		813
Class B common stock, Class B-3
Statement [Line Items]
Entity Common Stock, Shares Outstanding		1,287
Class B common stock, Class B-4
Statement [Line Items]
Entity Common Stock, Shares Outstanding		413

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2010	Dec. 31, 2009
Current Assets:
Cash and cash equivalents	$ 444.2	$ 260.6
Marketable securities	46.3	42.6
Accounts receivable, net of allowance of $1.4 and $1.9	316.9	248.3
Other current assets	165.5	165.6
Cash performance bonds and security deposits	4,510.1	5,981.9
Total current assets	5,483.0	6,699.0
Property, net of amortization $573.4 and $546.1	734.7	738.5
Intangible assets - trading products	17,038.0	16,982.0
Intangible assets - other, net	3,535.0	3,246.5
Goodwill	7,978.6	7,549.2
Other assets	433.1	435.8
Total Assets	35,202.4	35,651.0
Current Liabilities:
Accounts payable	36.3	46.7
Short-term debt	299.9	299.8
Other current liabilities	317.6	195.2
Cash performance bonds and security deposits	4,510.1	5,981.9
Total current liabilities	5,163.9	6,523.6
Long-term debt	2,823.8	2,014.7
Deferred tax liabilities, net	7,787.4	7,645.9
Other liabilities	170.3	165.8
Total Liabilities	15,945.4	16,350.0
Redeemable non-controlling interest	67.3
Shareholders' Equity:
Additional paid-in capital	16,918.6	17,186.6
Retained earnings	2,404.2	2,239.9
Accumulated other comprehensive income (loss)	(133.8)	(126.2)
Total Shareholders' Equity	19,189.7	19,301.0
Total Liabilities and Shareholders' Equity	35,202.4	35,651.0
Preferred stock
Shareholders' Equity:
Preferred stock
Series A junior participating preferred stock
Shareholders' Equity:
Preferred stock
Class A common stock
Shareholders' Equity:
Common stock	$ 0.7	0.7
Class B common stock
Shareholders' Equity:
Common stock

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Millions	Mar. 31, 2010	Dec. 31, 2009
Statement [Line Items]
Accounts receivable, allowance	$ 1.4	$ 1.9
Property, accumulated depreciation and amortization	$ 573.4	$ 546.1
Preferred stock
Statement [Line Items]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	9,860	9,860
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Series A junior participating preferred stock
Statement [Line Items]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	140	140
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Class A common stock
Statement [Line Items]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000	1,000,000
Common stock, shares issued	65,601	66,511
Common stock, shares outstanding	65,601	66,511
Class B common stock
Statement [Line Items]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	3	3
Common stock, shares issued	3	3
Common stock, shares outstanding	3	3

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2010	Mar. 31, 2009
Revenues
Clearing and transaction fees	$ 578.0	$ 527.8
Market data and information services	87.6	85.5
Access and communication fees	10.9	11.6
Other	16.7	22.2
Total Revenues	693.2	647.1
Expenses
Compensation and benefits	98.8	86.7
Communications	10.1	12.4
Technology support services	12.2	11.8
Professional fees and outside services	31.2	22.3
Amortization of purchased intangibles	30.8	33.3
Depreciation and amortization	32.2	31.0
Occupancy and building operations	20.5	19.4
Licensing and other fee agreements	21.1	24.6
Restructuring	(0.3)	3.2
Other	21.9	16.0
Total Expenses	278.5	260.7
Operating Income	414.7	386.4
Non-Operating Income (Expense)
Investment income	11.1	1.8
Gains (losses) on derivative investments	6.0
Securities lending interest income		2.4
Securities lending interest and other costs		(0.4)
Interest and other borrowing costs	(31.4)	(38.5)
Equity in losses of unconsolidated subsidiaries	(1.5)	(1.2)
Total Non-Operating	(15.8)	(35.9)
Income before Income Taxes	398.9	350.5
Income tax provision	158.7	151.4
Net Income	240.2	199.1
Less: net loss attributable to redeemable non-controlling interest
Net Income Atrributable to CME Group	$ 240.2	$ 199.1
Earnings per Common Share Attributable to CME Group:
Basic	$ 3.63	$ 3
Diluted	$ 3.62	$ 3
Weighted Average Number of Common Shares:
Basic	66,234	66,302
Diluted	66,428	66,439

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2010	Mar. 31, 2009
Statement [Line Items]
Beginning Balance	$ 19,301.0	$ 18,688.6
Comprehensive income:
Net income	240.2	199.1
Change in net unrealized loss on securities, net of tax	(5.3)	4.3
Change in net actuarial loss on defined benefit plans, net of tax	0.9	(1.3)
Change in net unrealized loss on derivatives, net of tax	0.1	1.5
Change in foreign currency translation adjustment, net of tax	(3.3)	(1.2)
Total comprehensive income	232.6	202.4
Cash dividends on common stock of $1.15 per share	(75.9)	(76.3)
Repurchase of Class A common stock	(281.8)	(27.0)
Exercise of stock options	2.1	2.4
Excess tax benefits from option exercises and restricted stock vesting	2.4	0.4
Stock-based compensation	9.3	8.6
Ending Balance	$ 19,189.7	$ 18,799.1
Class A common stock
Statement [Line Items]
Beginning Balance (in shares)	66,511	66,417
Comprehensive income:
Repurchase of Class A common stock (in shares)	(936)	(139)
Exercise of stock options (in shares)	26	18
Vesting of issued restricted Class A common stock (in shares)		1
Shares issued to Board of Directors (in shares)		3
Ending Balance (in shares)	65,601	66,300
Class B common stock
Statement [Line Items]
Beginning Balance (in shares)	3	3
Comprehensive income:
Ending Balance (in shares)	3	3
Common Stock and Additional Paid-in Capital
Statement [Line Items]
Beginning Balance	$ 17,187.3	$ 17,129.2
Comprehensive income:
Repurchase of Class A common stock	(281.8)	(27.0)
Exercise of stock options	2.1	2.4
Excess tax benefits from option exercises and restricted stock vesting	2.4	0.4
Stock-based compensation	9.3	8.6
Ending Balance	16,919.3	17,113.6
Retained Earnings
Statement [Line Items]
Beginning Balance	2,239.9	1,719.7
Comprehensive income:
Net income	240.2	199.1
Cash dividends on common stock of $1.15 per share	(75.9)	(76.3)
Ending Balance	2,404.2	1,842.5
Accumulated Other Comprehensive Income (Loss)
Statement [Line Items]
Beginning Balance	(126.2)	(160.3)
Comprehensive income:
Change in net unrealized loss on securities, net of tax	(5.3)	4.3
Change in net actuarial loss on defined benefit plans, net of tax	0.9	(1.3)
Change in net unrealized loss on derivatives, net of tax	0.1	1.5
Change in foreign currency translation adjustment, net of tax	(3.3)	(1.2)
Ending Balance	$ (133.8)	$ (157.0)

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2010	Mar. 31, 2009
Statement [Line Items]
Change in net unrealized loss on securities, tax	$ 1.8	$ 2.8
Change in net actuarial loss on defined benefit plans, tax	0.6	0.9
Change in net unrealized loss on derivatives, tax	0.1	0.9
Change in foreign currency translation adjustment, tax	$ 2.2	$ 0.6
Cash dividends on common stock, per share	$ 1.15	$ 1.15

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2010	Mar. 31, 2009
Cash Flows from Operating Activities
Net Income	$ 240.2	$ 199.1
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	9.3	8.6
Amortization of purchased intangibles	30.8	33.3
Depreciation and amortization	32.2	31.0
Net accretion of discounts and amortization of debt financing costs	1.1	8.8
Equity in losses of unconsolidated subsidiaries	1.5	1.2
Deferred income taxes	(7.2)	(9.5)
Change in assets and liabilities:
Accounts receivable	(48.3)	(45.1)
Other current assets	(6.6)	15.9
Other assets	(12.8)	(3.7)
Accounts payable	(10.4)	(24.5)
Income tax payable	146.9	90.1
Other current liabilities	(27.8)	(50.1)
Other liabilities	7.8	1.6
Other	(1.0)	(2.0)
Net Cash Provided by Operating Activities	355.7	254.7
Cash Flows from Investing Activities
Proceeds from maturities of available-for-sale marketable securities	5.5	168.7
Purchases of available-for-sale marketable securities	(5.1)	(104.8)
Net change in NYMEX securities lending program investments		274.4
Purchases of property, net	(26.3)	(35.3)
Cash acquired from Index Services	6.1
Capital contributions to FXMarketSpace Limited		(2.0)
Net Cash Provided by (Used in) Investing Activities	(19.8)	301.0
Cash Flows from Financing Activities
Proceeds (repayments) of commercial paper, net	200.0	(858.8)
Proceeds from other borrowings, net of issuance costs	608.4	744.7
Net change in NYMEX securities lending program liabilities		(299.8)
Cash dividends	(75.9)	(76.3)
Repurchase of Class A common stock, including costs	(281.8)	(27.0)
Proceeds from exercise of stock options	2.1	2.4
Distribution paid to non-controlling interest	(607.5)
Excess tax benefits related to employee option exercises and restricted stock vesting	2.4	0.4
Net Cash Used in Financing Activities	(152.3)	(514.4)
Net change in cash and cash equivalents	183.6	41.3
Cash and cash equivalents, beginning of period	260.6	297.9
Cash and Cash Equivalents, End of Period	444.2	339.2
Supplemental Disclosure of Cash Flow Information
Income taxes paid	27.8	48.1
Interest paid (excluding securities lending program)	44.0	36.0
Non-cash investing activities:
Change in net unrealized securities gains (losses)	(4.6)	7.1
Change in net unrealized derivatives gains (losses)	$ 0.2	$ 2.4

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2010
Statement [Line Items]
Basis of Presentation	1. Basis of Presentation The consolidated financial statements consist of CME Group Inc. (CME Group) and its subsidiaries (collectively, the company), including Chicago Mercantile Exchange Inc. (CME), the Board of Trade of the City of Chicago, Inc. (CBOT), New York Mercantile Exchange, Inc. (NYMEX) and their respective subsidiaries (collectively, the exchange). In the opinion of management, the accompanying consolidated financial statements include all normal recurring adjustments considered necessary to present fairly the financial position of the company at March 31, 2010 and December 31, 2009 and the results of operations and cash flows for the periods indicated. Quarterly results are not necessarily indicative of results for any subsequent period. On March 18, 2010, CBOT acquired a 90 percent ownership interest in CME Group Index Services LLC (Index Services), a joint venture with Dow Jones & Company (Dow Jones). The financial statements and accompanying notes presented in this report include the financial results of Index Services beginning on March 19, 2010. The accompanying interim consolidated financial statements have been prepared by CME Group without audit. Certain notes and other information normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted. The accompanying consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto in CME Group's Annual Report on Form 10-K for the year ended December 31, 2009, filed with the Securities and Exchange Commission (SEC) on February 26, 2010. Certain reclassifications have been made to the 2009 financial statements to conform to the presentation in 2010.

Business Combinations

3 Months Ended

Mar. 31, 2010

Statement [Line Items]

Business Combinations

2. Business Combinations

On March 18, 2010, CBOT and Dow Jones entered into an agreement to form Index Services. Index Services was formed through the contribution of CBOT's market data business and Dow Jones' index business. Based on the preliminary fair value of assets contributed, the company has allocated $432.6 million to goodwill and $376.4 million to identifiable intangible assets. Intangible assets consist primarily of $232.8 million of customer relationships and $126.6 million of trade names.

In conjunction with its formation, Index Services issued $612.5 million of 4.40% fixed rate notes due 2018, which are guaranteed by CME Group, in an unregistered offering. Proceeds of $607.5 million were distributed to Dow Jones thereby reducing its interest in Index Services to 10 percent. Dow Jones retains the right to redeem its remaining interest at fair value on or after March 18, 2016. In addition, CBOT retains a right to call Dow Jones' remaining interest at fair value on or after March 18, 2017. In accordance with current accounting guidance, Dow Jones' interest has been classified as redeemable non-controlling interest in the company's consolidated financial statements.

The following summarizes the changes in the redeemable non-controlling interest during the first quarter of 2010:


(in millions)
Balance at December 31, 2009	$	—
Contribution by Dow Jones		675.0
Distribution to Dow Jones		(607.5	)

Net unrealized loss on derivative relating to the 4.40% fixed rate notes		(0.2	)
Net income (loss) for the period		—

Total comprehensive income attributable to redeemable non-controlling interest		(0.2	)


Balance at March 31, 2010	$	67.3

Intangible Assets and Goodwill

3 Months Ended

Mar. 31, 2010

Statement [Line Items]

Intangible Assets and Goodwill

3. Intangible Assets and Goodwill

Intangible assets consisted of the following at March 31, 2010 and December 31, 2009:


	March 31, 2010									December 31, 2009
(in millions)	Cost			Accumulated Amortization			Net Book Value			Cost			Accumulated Amortization			Net Book Value
Amortizable Intangible Assets:
Clearing firm, market data and other customer relationships	$	3,075.3		$	(211.3	)	$	2,864.0		$	2,842.5		$	(186.8	)	$	2,655.7
Lease-related intangibles		83.2			(24.7	)		58.5			83.2			(21.7	)		61.5
Dow Jones trading products (a)		—			—			—			74.0			(16.6	)		57.4
Technology-related intellectual property		38.8			(11.9	)		26.9			28.4			(10.3	)		18.1
Open interest		—			—			—			12.3			(12.3	)		—
Market maker agreement		9.7			(6.2	)		3.5			9.7			(5.8	)		3.9
Other (b)		5.2			(2.8	)		2.4			3.6			(2.7	)		0.9

		3,212.2			(256.9	)		2,955.3			3,053.7			(256.2	)		2,797.5
Foreign currency translation adjustments		(9.5	)		3.5			(6.0	)		(7.8	)		2.5			(5.3	)

Total Amortizable Intangible Assets	$	3,202.7		$	(253.4	)	$	2,949.3		$	3,045.9		$	(253.7	)	$	2,792.2

Indefinite-Lived Intangible Assets:
Trading products (a)							$	17,038.0								$	16,982.0
Trade names								583.6									452.1
Other (c)								2.6									2.6

								17,624.2									17,436.7
Foreign currency translation adjustments								(0.5	)								(0.4	)

Total Indefinite-Lived Intangible Assets								17,623.7									17,436.3

Total Intangible Assets							$	20,573.0								$	20,228.5

(a)	At March 31, 2010, in connection with CBOT's 90% ownership interest in Index Services, the company now considers the Dow Jones trading products as an indefinite lived asset, and is included with the other trading products.

(b)	At March 31, 2010 and December 31, 2009, other amortizable intangible assets consisted of non-compete and service agreements.

(c)	At March 31, 2010 and December 31, 2009, other indefinite-lived intangible assets consisted of products in development.

Total amortization expense for intangible assets was $30.8 million and $33.3 million for the quarters ended March 31, 2010 and 2009, respectively. As of March 31, 2010, the future estimated amortization expense related to amortizable intangible assets is expected to be:


(in millions)
Remainder of 2010	$	96.0
2011		127.9
2012		122.6
2013		116.6
2014		115.0
2015		111.0
Thereafter		2,260.2

Goodwill activity consisted of the following for the quarter ended March 31, 2010 and the year ended December 31, 2009:


(in millions)	Balance at December 31, 2009		Business Combination		Impairment Adjustment		Other Activity (d)			Balance at March 31, 2010
CBOT Holdings	$	5,035.7	$	—	$	—	$	—		$	5,035.7
NYMEX Holdings		2,463.1		—		—		(0.8	)		2,462.3
CMA		50.4		—		—		(2.4	)		48.0
Index Services		—		432.6		—		—			432.6

Total Goodwill	$	7,549.2	$	432.6	$	—	$	(3.2	)	$	7,978.6


(in millions)	Balance at December 31, 2008		Business Combination		Impairment Adjustment		Other Activity (d)			Balance at December 31, 2009
CBOT Holdings	$	5,036.1	$	—	$	—	$	(0.4	)	$	5,035.7
NYMEX Holdings		2,436.7		—		—		26.4			2,463.1
CMA		46.4		—		—		4.0			50.4

Total Goodwill	$	7,519.2	$	—	$	—	$	30.0		$	7,549.2

(d)

Other activity consisted primarily of adjustments to restructuring costs and tax contingencies for CBOT Holdings and NYMEX Holdings, the recognition of excess tax benefits upon exercise of stock options assumed for CBOT Holdings and NYMEX Holdings, and foreign currency translation adjustments for CMA.

The company conducts goodwill and intangible asset impairment testing at least annually. The company is required to consider a market participant's perspective when developing the assumptions used to estimate fair value for its impairment tests. It may be possible that the estimated fair value of certain intangible assets and goodwill may be less than book value when impairment testing is performed in the future. As a result, the company would be required to record an impairment charge at that time.

Debt

3 Months Ended

Mar. 31, 2010

Statement [Line Items]

Debt

4. Debt

On March 18, 2010, Index Services completed an offering of $612.5 million of 4.40% fixed rate notes due 2018. Proceeds of $607.5 million were distributed to Dow Jones in conjunction with its investment in Index Services.

Debt consisted of the following:


(in millions)	March 31, 2010		December 31, 2009
Short-term debt:
$300.0 million floating rate notes due August 2010, interest equal to 3-month LIBOR plus 0.65%, reset quarterly⁽¹⁾	$	299.9	$	299.8

Total short-term debt	$	299.9	$	299.8


Long-term debt:
Term loan due 2011, interest equal to 3-month LIBOR plus 1.00%, reset quarterly⁽²⁾		420.5		420.5
$750.0 million fixed rate notes due August 2013, interest equal to 5.40%		748.2		748.0
$750.0 million fixed rate notes due February 2014, interest equal to 5.75%		746.4		746.2
$612.5 million fixed rate notes due March 2018, interest equal to 4.40%⁽³⁾		608.8		—
Commercial paper ⁽⁴⁾		299.9		100.0

Total long-term debt	$	2,823.8	$	2,014.7

(1)	In September 2008, the company entered into an interest-rate swap agreement that modified the variable interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 3.92% beginning with the interest accrued after November 6, 2008.

(2)	In September 2008, the company entered into an interest-rate swap agreement that modified the variable interest obligation associated with this facility so that the interest payable effectively became fixed at a rate of 4.72% beginning with the interest accrued after October 22, 2008.

(3)	In February 2010, the company entered into a forward-starting interest-rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 4.46% at issuance on March 18, 2010.

(4)	At March 31, 2010 and December 31, 2009, this represented commercial paper backed by the three-year senior credit facility.

Commercial paper notes with an aggregate par value of $900.0 million and maturities ranging from seven to 61 days were issued during the quarter ended March 31, 2010. The weighted average discount rates for commercial paper outstanding at March 31, 2010 and December 31, 2009 were 0.20% and 0.24%, respectively. During the first quarter of 2010 and 2009, the weighted average balance, at par value, of commercial paper outstanding was $230.0 million and $1.0 billion, respectively.

Long-term debt maturities, at par value, were as follows as of March 31, 2010:


(in millions)
2011	$	720.5
2012		—
2013		750.0
2014		750.0
Thereafter		612.5

Commercial paper is considered to mature in 2011 because it is backed by the three-year senior credit facility, which expires in 2011.

At March 31, 2010, the fair values of the fixed rate notes by maturity date were as follows. The fair value for the fixed rate notes due 2013 and 2014 was estimated using quoted market prices. The fair value of the fixed rate notes due 2018 was derived using a standard valuation model with market-based observable inputs including U.S. Treasury yields and interest rate spreads.

in millions)	Fair Value
$750.0 million fixed rate notes due August 2013	$	817.2
$750.0 million fixed rate notes due February 2014		827.4
$612.5 million fixed rate notes due March 2018		605.4

Contingencies	3 Months Ended
Contingencies	Mar. 31, 2010
Statement [Line Items]
Contingencies	5. Contingencies Legal Matters. On October 14, 2003, the U.S. Futures Exchange, L.L.C. (Eurex U.S.) and U.S. Exchange Holdings, Inc. filed suit against CBOT and CME in the United States District Court for the District of Columbia. The suit alleges that CBOT and CME violated the antitrust laws and tortiously interfered with the business relationship and contract between Eurex U.S. and The Clearing Corporation. Eurex U.S. and U.S. Exchange Holdings, Inc. are seeking a preliminary injunction and treble damages. In December 2003, CBOT and CME filed separate motions to dismiss or, in the event the motion to dismiss is denied, to move the venue to the United States District Court for the Northern District of Illinois. In September 2004, the judge granted CBOT's and CME's motions to transfer venue to the Northern District of Illinois. In light of that decision, the judge did not rule on the motions to dismiss. In March, 2005, Eurex U.S. filed a second amended complaint in the United States District Court for the Northern District of Illinois. On June 6, 2005, CME and CBOT filed a motion to dismiss the complaint. On August 25, 2005, the judge denied the joint CME/CBOT motion to dismiss. In April 2007, CME and CBOT filed two joint motions for summary judgment. The company is currently awaiting the court's decision on the motions. Based on its investigation to date and advice from legal counsel, the company believes this suit is without merit and intends to defend itself vigorously against these charges. On August 19, 2008, Fifth Market filed a complaint against CME Group and CME seeking a permanent injunction against CME's Globex system and enhanced damages for what the plaintiff alleges is willful infringement, in addition to costs, expenses and attorneys' fees. The suit alleges that CME infringes two U.S. patents. Based on its investigation to date and advice from legal counsel, the company believes this suit is without merit and intends to defend itself vigorously against these charges. In addition, the company is a defendant in, and has potential for, various other legal proceedings arising from its regular business activities. While the ultimate results of such proceedings against the company cannot be predicted with certainty, the company believes that the resolution of any of these matters will not have a material adverse affect on its consolidated financial position or results of operations. Intellectual Property Indemnifications. Certain agreements with customers and other third parties related to accessing the CME Globex platform, the CME ClearPort platform, and/or the Clearing 21 platform; utilizing market data services, and licensing CME SPAN software may contain indemnifications from intellectual property claims that may be made against them as a result of their use of the applicable products and/or services. The potential future claims relating to these indemnifications cannot be estimated and, therefore, no liability has been recorded.

Guarantees	3 Months Ended
Guarantees	Mar. 31, 2010
Statement [Line Items]
Guarantees	6. Guarantees CME Clearing Contract Settlement. CME accounts for its guarantee of settlement of contracts in accordance with current accounting guidance on guarantees. CME marks-to-market all open positions at least twice a day, and requires payment from clearing firms whose positions have lost value and makes payments to clearing firms whose positions have gained value. In select circumstances where CME has introduced clearing services to newer markets, positions are marked-to-market daily, with the capability to mark-to-market more frequently as market conditions warrant. Under the extremely unlikely scenario of simultaneous default by every clearing firm who has open positions with unrealized losses, the maximum exposure related to CME's guarantee would be one half day of changes in fair value of all open positions, before considering CME's ability to access defaulting clearing firms' performance bond and security deposit balances as well as other available resources. During the first quarter of 2010, CME transferred an average of approx imately $2.2 billion a day through its clearing system for settlement from clearing firms whose positions had lost value to clearing firms whose positions had gained value. CME reduces its guarantee exposure through initial and maintenance performance bond requirements and mandatory security deposits. The company believes that the guarantee liability in accordance with the accounting guidance is immaterial and therefore has not recorded any liability at March 31, 2010. Mutual Offset Agreement. CME and Singapore Exchange Limited (SGX) have a mutual offset agreement with a current term through October 2010. The term of the agreement will automatically renew for a one year period unless either party provides advance notice of their intent to terminate. CME can maintain collateral in the form of U.S. Treasury securities or irrevocable letters of credit. At March 31, 2010, CME was contingently liable to SGX on irrevocable letters of credit totaling $83.0 million. Regardless of the collateral, CME guarantees all cleared transactions submitted through SGX and would initiate procedures designed to satisfy these financial obligations in the event of a default, such as the use of performance bonds and security deposits of the defaulting clearing firm. Cross-Margin Agreements. CME and Options Clearing Corporate (OCC) have a cross-margin arrangement, whereby a common clearing firm may maintain a cross-margin account in which the clearing firm's positions in certain CME futures and options on futures contracts are combined with certain positions cleared by OCC for purposes of calculating performance bond requirements. The performance bond deposits are held jointly by CME and OCC. If a participating firm defaults, the gain or loss on the liquidation of the firm's open position and the proceeds from the liquidation of the cross-margin account are allocated 50% each to CME and OCC. Cross-margin agreements exist with CME and Fixed Income Clearing Corp (FICC) whereby the clearing firms' offsetting positions with CME are subject to reduced margin requirements. Clearing firms maintain separate performance bond deposits with each clearing house, but depending on the net offsetting positions between CME and FICC, each clearing house may reduce the firm's performance bond requirement. In the event of a firm default, the total liquidation net gain or loss on the firm's offsetting open positions and the proceeds from the liquidation of the performance bond collateral held by each clearing house's supporting offsetting positions are divided evenly between CME and the applicable clearing house. Additionally, for the FICC cross-margin agreements, if, after liquidation of all the positions and collateral of the defaulting firm at each respective clearing organization, and taking into account any cross-margining loss sharing payments, any of the participating clearing organizations has a remaining liquidating surplus, and any other participating clearing organization has a remaining liquidating deficit, any additional surplus from the liquidation will be shared with the other clearing houses to the extent that they have a remaining liquidating deficit. Any remaining surplus funds will be passed to the bankruptcy trustee. GFX Corporation Letter of Credit. CME guarantees a $5.0 million standby letter of credit for GFX Corporation (GFX). The beneficiary of the letter of credit is the clearing firm that is used by GFX to execute and maintain its futures positions. Per exchange requirements, GFX is required to place performance bond deposits with its clearing firm. The letter of credit, utilized as performance bond, will be drawn on in the event that GFX defaults in meeting requirements to its clearing firm. In the unlikely event of a payment default by GFX, if GFX's performance bond is not sufficient to cover the deficit, CME would guarantee the remaining deficit, if any.

Stock-Based Payments	3 Months Ended
Stock-Based Payments	Mar. 31, 2010
Statement [Line Items]
Stock-Based Payments	7. Stock-Based Payments Total expense for stock-based payments, including shares issued to the board of directors, converted CBOT Holdings options and converted NYMEX Holdings options, was $9.9 million for the quarter ended March 31, 2010, and $9.2 million for the quarter ended March 31, 2009. The total income tax benefit recognized in the consolidated statements of income for stock-based payment arrangements was $4.0 million and $3.7 million for the quarters ended March 31, 2010 and 2009, respectively. In the first quarter of 2010, the company granted employees stock options totaling 5,836 shares under the CME Group Omnibus Stock Plan. The options have a ten-year term with an exercise price of $314 per share, the closing market price on the date of grant. The fair value of these options totaled $0.7 million, measured at the grant date using the Black-Scholes valuation model, which is recognized as compensation expense on an accelerated basis over the vesting period. The Black-Scholes fair value of the option grant was calculated using the following assumptions: dividend yield of 1.5%; expected volatility of 43.6%; risk-free interest rate of 2.9% and expected life of 6.2 years. The grant date weighted average fair value of options granted during the quarter was $126 per share. In the first quarter of 2010, the company granted 4,155 shares of restricted Class A common stock which generally have a vesting period of two to five years. The fair value of this grant was $1.3 million, which is recognized as compensation expense on an accelerated basis over the vesting period.

Fair Value Measurements

3 Months Ended

Mar. 31, 2010

Statement [Line Items]

Fair Value Measurements

8. Fair Value Measurements

Accounting guidance on fair value measurements and related disclosures provides direction for using fair value to measure assets and liabilities by defining fair value and establishing a framework for measuring fair value. The guidance creates a three-level hierarchy that establishes classification of fair value measurements for disclosure purposes.

•

Level 1 inputs, which are considered the most reliable evidence of fair value, consist of quoted prices (unadjusted) for identical assets or liabilities in active markets.

•

Level 2 inputs consist of observable market data, 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 consist of unobservable inputs which are derived and cannot be corroborated by market data or other entity-specific inputs.

In general, the company uses quoted prices in active markets for identical assets to determine the fair value of marketable securities and equity investments. Level 1 assets generally include U.S. Treasury securities and exchange-traded mutual funds, and publicly-traded equity securities. If quoted prices are not available to determine fair value, the company uses other inputs that are observable either directly or indirectly. Assets included in level 2 generally consist of U.S. Government agency securities, municipal bonds, asset-backed securities and certain corporate bonds. There were no level 3 assets that were valued on a recurring and non-recurring basis as of March 31, 2010.

The company determined the fair value of its interest rate swap contracts, considered level 2 assets, using standard valuation models with market-based observable inputs including forward and spot exchange rates and interest rate curves. The level 2 marketable securities are measured at fair value based on matrix pricing.

Financial assets and liabilities recorded in the consolidated balance sheet as of March 31, 2010 were classified in their entirety based on the lowest level of input that was significant to each asset or liability's fair value measurement.

Financial Instruments Measured at Fair Value on a Recurring Basis:


	As of March 31, 2010
(in millions)	Level 1		Level 2		Level 3		Total
Assets at Fair Value:
Marketable securities:
U.S. Treasury securities	$	5.1	$	—	$	—	$	5.1
Mutual funds		25.2		—		—		25.2
Corporate bonds		—		0.1		—		0.1
Municipal bonds		—		4.5		—		4.5
Asset-backed securities		—		3.1		—		3.1
U.S. Government agency securities		—		8.3		—		8.3

Total		30.3		16.0		—		46.3
Equity investments		60.1		—		—		60.1

Total Assets at Fair Value	$	90.4	$	16.0	$	—	$	106.4

Liabilities at Fair Value:
Interest rate swap contracts	$	—	$	23.1	$	—	$	23.1

Total Liabilities at Fair Value	$	—	$	23.1	$	—	$	23.1

There were no transfers of assets or liabilities between level 1 and level 2 during the first quarter of 2010. There were also no assets or liabilities valued at fair value on a non-recurring basis using significant unobservable inputs during the first quarter of 2010.

Earnings Per Common Share

3 Months Ended

Mar. 31, 2010

Statement [Line Items]

Earnings Per Common Share

9. Earnings Per Common Share

Basic earnings per share is computed by dividing net income by the weighted average number of shares of all classes of common stock outstanding for each reporting period. Diluted earnings per share reflects the increase in shares using the treasury stock method to reflect the impact of an equivalent number of shares of common stock if stock options were exercised and restricted stock awards were vested. Outstanding stock options of approximately 609,000 and 734,000 were anti-dilutive for the quarters ended March 31, 2010 and 2009, respectively. Restricted stock awards of approximately 5,000 were anti-dilutive for the quarter ended March 31, 2009. These options and awards were not included in the diluted earnings per common share calculation.


	Quarter Ended March 31,
(in millions, except shares and per share data)	2010		2009
Net Income Attributable to CME Group	$	240.2	$	199.1

Weighted Average Number of Common Shares (in thousands):
Basic		66,234		66,302
Effect of stock options		155		120
Effect of restricted stock grants		39		17

Diluted		66,428		66,439


Earnings per Common Share Attributable to CME Group:
Basic	$	3.63	$	3.00
Diluted		3.62		3.00

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2010
Statement [Line Items]
Subsequent Events	10. Subsequent Events The company has evaluated subsequent events through the date the financial statements were issued, and has determined that there are no subsequent events that require disclosure.