Patrick Moley

I just wanted to get an update on how sustainable; you know, you think the growth here is

could you just elaborate on the decision to maintain the mid- to high single revenue growth target? Should we interpret that as just general conservatism?

why were Cboe Australia and Canada, why did you decide to initiate a sales process there?

I was hoping you could just maybe speak to the one or 2 key priorities that you have in coming into the role and how that might differ from previous leadership?

Was hoping you could just elaborate maybe on what the CEO search process looked like and the decision to ultimately choose Mr. Donahue

how you're thinking about perpetual futures as a product structure that could eventually become a more meaningful driver

how you see enhanced collateral mobility impacting CME's clearing business

what you have seen to date in terms of engagement and inbounds from market makers and institutions looking at the prediction market space

do you think it's feasible to offer parlays on a large scale in prediction markets considering that the venue doesn't act as the house?

to the extent you could comment on whether that's in the cards would be much appreciated

how are you thinking about this trial, your ability to win? And how should investors think about your reserving for any potential damages

we're just hoping maybe you could comment on what you plan to do with the proceeds from that sale and how that informs your capital allocation priorities

how additive you think that this rollout could be to volumes this year, and then if you could just maybe speak to the broader retail strategy

what strategic benefit does this give you going forward, and would there ever be an instance where you would look to utilize it

how should investors think about the monetization time line and the revenue contribution from these new asset classes relative to your core crypto trading business over the next 12 to 18 months?

what have you seen in terms of prediction market adoption to date among Coinbase customers? Do you have plans to build your own prediction market venue?

I was wondering if you could update us on the time line or some of the milestones we should be looking out for as you introduce new asset classes to that platform.

Can you discuss the economics behind adding decentralized exchanges to the platform? How will you monetize this? And what's the risk that adding these linkages will cannibalize your own retail exch...

I was hoping you could update us on the go-to-market strategy for crypto derivatives broadly in the U.S. And then once you close the Deribit acquisition, how quickly do you think you'll be able to ...

could you maybe just expand on those comments and talk about how you see your listed token offering evolving from here?

I know you launched crypto perpetual futures in Europe in the fourth quarter. So I would love to get your thoughts

you've obviously become one of the leaders in the space, but there's been a lot of new entrants recently. So I was hoping you could talk about just the strategy there and what you think gives you t...

balances are only up about 45%. So I was hoping you could just elaborate on what you're seeing from credit cardholders?

where that borrowing is coming from? Is that existing customers? Are you finding that you're winning customers

Can you maybe just specify what you mean by regulatory clarity?

whether it could create some frictions, I guess, in terms of the new account formation, particularly internationally

the SEC eliminated the Pattern Day Trader rule. It seems like it could be a pretty significant structural change

I was just hoping to get an update from you on how you maybe see this all playing out between the platforms and the sports books

Any updated thoughts on the appetite for M&A and capital return priorities? And then on M&A specifically, I know in the past, you have said that with traditional brokerage models, it has been diffi...

Could you just maybe speak a little bit more to your strategy for growing that business, whether it's adding more broker partners?

Could you maybe just provide a little color on the breakout of the types of customers that drove that growth? Was it retail? Was it hedge funds?

you do not really see much that could derail this rally here. And that you could see, you know, this rally continue

one of your competitors has really leaned into event contracts specifically sports events contracts

you're on pace to nearly triple the size of your crypto offering this year. So can you talk about what drove the decision

a lot of excitement around crypto here. It seems like the incoming administration, the change in leadership in the SEC

hoping you could give us an update on the traction that you're seeing there, your outlook for next year

can you talk about some of the drivers of that a little bit more? How sustainable do you think it is?

what you think -- how you see that playing out and what opportunity could present for Polymarket and ICE

what drove the decision to shift resources into the state of Texas? And then, more broadly, how are you thinking about the potential for capital markets

could you talk about, how you're thinking about the dynamics between refi versus purchase activity next year, just kind of through the lens of that Mortgage guide you provided

does this represent any sort of structural opportunity that investors might not be Nasdaq's ability to grow the list

could you talk about just your expectation for what this now means for the options market overall, how Nasdaq stands to benefit

where do you think that leaves us for the full year in terms of the overall 10% to 14% growth rate for the full segment

the fact that you lease that land makes it any less attractive to hyperscalers

can you talk about how long you think a contract if you were to sign one could potentially be