Operator: Good day, everyone, and welcome to the CME Group Fourth Quarter 2010 Earnings Call. As a reminder, this call is being recorded.
At this time for opening remarks and introductions, it's my pleasure to turn the conference over to John Peschier. Please go ahead, sir.
John C. Peschier - Managing Director, IR: Thank you, and thank you all for joining us this morning. Craig Donohue, our CEO; and Jamie Parisi, our CFO, will spend a few minutes outlining the highlights of the fourth quarter, and then we will open up the call for your questions. Terry Duffy, our Chairman; is also here this morning. Before they begin, I'll read the Safe Harbor language.
Statements made on this call and in the accompanying slides on our website that are not historical facts are forward-looking statements. These statements are not guarantees of future performance and 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 forward-looking statements. More detailed information about factors that may affect our performance may be found in our filings with the SEC, including our most recent Forms 10-K and 10-Q, which are available on the Investor Relations portion of our website.
During this call, we'll refer to GAAP and non-GAAP results. A reconciliation is available in our press release at as well as within Income Statement Trend File on the IR portion of the site, which contains historical quarterly results on a GAAP basis.
Now, I would like to turn the call over to Craig.
Craig S. Donohue - CEO: Thank you, John. Good morning and thank you for joining us on the CME Group fourth quarter earnings call. For the quarter, CME Group posted results of $763 million of revenue and $458 million of operating income with an operating margin of 60%.
I'll let Jamie get into the details on the financial results, while I'll take an opportunity to talk about the big picture environment for CME Group and our customers. For the entire financial services industry, the past two years have been filled with challenges and uncertainty on many fronts. I think we can all agree that there is still a fair amount of uncertainty ahead, but as I look back on CME Group's response to this environment, I see remarkable progress.
We've consistently worked to support the users of our core products, provide fact-based analysis and insight on prevailing market conditions, and look for opportunities to develop new products. This work has enabled us to launch exciting new products such as the Ultra Bond Treasury Futures, which traded 34,000 contracts per day in January, and which provide a variety of new and useful analytical tools to our customers. In turn, these allow us to have more meaningful conversation with market participants about their trading needs and continue to evolve new offerings for our customers.
We've worked with regulators, customers and service providers to develop and launch a cleared, over-the-counter interest rate swaps offering which has cleared over $980 million since launch. We are in what we consider very early stages with this offering, but we are pleased to note that the necessary operational and risk management frameworks are functioning robustly as evidenced by the cleared activity to-date, and early participation has come from a diverse group of firms. Since our initial launch, we've added two new clearing firms, RBS and Wells Fargo, highlighting the positive reception the offering is getting from market participants.