Operator: Welcome to the CME Group Third Quarter Earnings Call. At this time, all participants are in a listen-only mode.
At this time, I'll turn the call over to Mr. John Peschier. You may begin, sir.
John C. Peschier - Managing Director, IR: Thanks. I thank all of you for joining us this morning. Gill and Jamie will spend a few minutes outlining the highlights of the third quarter and then we'll open up the call for your questions. Terry Duffy, Kim Taylor and Derek Sammann are on the call as well.
Before they begin, I'll read the Safe Harbor language. Statements made on the call, and in the 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 our 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 our website. Also, note the final page of our earnings release contains reconciliation to our GAAP results this quarter.
Now, I'd like to turn the call over to Gill.
Phupinder Gill - President, CME Group: Thank you, John. Good morning and thank you for joining us this morning. I will discuss our performance in the third quarter, and provide updates on a few of our strategic initiatives, before turning things over to Jamie to review the financials.
During the third quarter, we continued to take steps to strengthen our business in a dynamically changing environment. One of the main things we think about and have focused on during the last few years is how to position the Company to address customer needs as the market rapidly shifts. I'll talk a bit about that today. Let me start with interest rates.
We have worked hard over the last few years to enhance our interest rate product offerings in light of Fed's zero interest rate policy and have has several successful products introduction since 2010. These developments have added more than 305,000 to our average daily volume and 3.8 million of open interest to our interest rate complex.
More recently, we announced that we will launch deliverable Interest Rate Swap Futures contract in a couple weeks. This innovative new product will benefit clients by providing a unique way of -- a unique way to access interest rate swap exposure. Our customers will now have a complementary standardized product that provides the advantages offered by futures contract including pricing transparency, ease of legal documentation, the automatic netting of positions and margin savings. Interest rate swap futures were created to meet strong demand from financial market participants including banks, hedge funds, asset managers and insurers. Citibank, Credit Suisse, Goldman Sachs and Morgan Stanley are among the firms who are planning to serve as market majors for the broad product enabling market participants to access deep and liquid markets.