CME Group Inc. CME, the second largest futures exchange in the world in terms of trading volume as well as notional value traded, offers the widest range of benchmark products covering all major asset classes, specifically futures products and options on futures.CME Group’s interest-rate trading has benefited from strong demand for Eurodollar futures contracts (per management, CME Eurodollars are the most actively traded futures contracts in the world). Over 80% of CME Group’s revenues are derived from the clearing and transaction fees assessed on each contract and executed through the trading venues and cleared through its clearing house.Growth in average daily volumes along with improvement in rate per contract and prudent expense management are boosting revenues and operating leverage.Overall, CME Group’s earnings track record has been quite satisfactory in the trailing four quarters. Better-than-expected results in three of last trailing four quarters led to an average earnings surprise of +2.4%.Currently, CME Group has a Zacks Rank #3 (Hold), but that could definitely change following its first-quarter earnings report that has just been released. The key takeaways from this immediate announcement are highlighted below:Earnings: CME Group’s adjusted earnings of $1.15 were in line with our expectations.Revenue: Revenues surpassed our estimate. Our consensus called for revenues of $925 million, and the company reported revenues of $934 million.Key Stats to Note: Average daily volume increased 13% year over year to 16.9 million contracts in the quarter.Total expenses increased 7.4% year over year at $360.3 million during the reported quarter. Operating income improved 13% to $573.9 million.Long-term debt stood at $2.2 billion was flat with 2015 end level.Paid $1.2 billion in dividends in the quarter.Check back later for our full write up on this CME earnings report later!Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CME GROUP INC (CME): Free Stock Analysis Report To read this article on Zacks.com click here.