Simon Clinch

how you see the size of the relative opportunities for just the prediction market opportunity on its own at Cboe

what you're seeing, the early behaviors of those kinds of accounts

if you give us an update on how that's progressing. Any benefits you're seeing

how this strategy might actually change the fortunes of BrokerTec within the context of U.S. treasuries

could just give us a sense of how big the base of retail traders you have on the platform

could you just walk us through the very good expense control we saw this quarter and how we should expect that to ramp through the year

How should we think about the breakdown of volume growth here and the growth going forward given it's been consistently in that kind of high-single-digit range

Could you give us the latest update on the Google Cloud spend for 2025, and what spend was in fourth quarter '24?

Really useful. Thank you, Mark. And I think just as a follow on to that, I mean, as I'm thinking particularly long term

Hi, thanks for fitting me in. Mark, I was wondering if you could help us think about quite an important question today,

I was curious on the government side, Mark, perhaps you could talk to us about the funding side of that discussion that

Yes, okay. That's really helpful. Just a follow-up question.

Hi. Thanks for taking my question. Maybe I could go back to the question previously about the challenges you're facing a

That's really useful. Thanks, Mark. And just to does this bill do you consider the new policies as expanding that $5 bil

Okay. Yes, well, sorry for asking the question. Maybe I could turn on to something slightly longer term.

Can I just start with a bit of a housekeeping one, please?

Yes. And if I strip out the records growth contribution?

Hi. Thanks for taking my question. I've got two questions.

how you think lenders will treat the success fee in that kind of situation and how we should think about that dynamic in that sort of comparison?

some of the assumptions around the actual direct licensing model that you built into the guidance for the year? And how we should think about the cadence of that through the year

how should we think about the value gap potential in your other categories outside of mortgages and the ability for those areas, those segments to take on the heavy lifting

your approach to engaging with regulators right now. And how you're thinking about what is the best pathway of that engagement for the benefit of FICO shareholders and the industry

I was wondering if you could perhaps break it down. Was that an overall comment around sort of the aggregate level of volumes? Or is there any sort of detail at the sort of vertical level

the booking strength was notable this quarter. That's sort of maintained as why everything was going on. I just wonder if you could give us some a little context around pipeline build

for the GSEs when they -- should they go private to start employing sort of some cash flow modeling internally to their own sort of credit scoring capabilities

where you are in terms of exploring the investments behind expanding your distribution beyond just your financial

give some thoughts around really around the FHFA's proposal and implementation of this proposal in the fourth quarter

I just wanted to again, on the mortgage side, just what could you update us on the transition from SDKs?

could you perhaps talk about TTF in the concept of its share of total gas volumes across the U.S. and Europe and where that might go to

I was wondering if you could update us on your thinking around that, particularly after your recent ICE 2025 experience

how you balance that the potential for buyback because you're gonna have a lot of capital coming your way. And against that, the sort of the general range of leverage that you're willing to operate in

if you could maybe give some color around the durability of that or how to think about the structural dynamics there

how the business and the structural drivers are different today versus the last time we went through a market downturn in 2022