Derivatives marketplace operator CME Group Inc (NASDAQ:CME) today reported its financial results for the first quarter of 2021.

The company reported revenue of $1.3 billion and operating income of $725 million for the first quarter of 2021. This compares with revenues of $1.5 billion and operating income of $960 million registered in the first quarter of 2020.

Net income for the first quarter of 2021 was $574 million and diluted earnings per share were $1.60. This compares with net income of $766 million and diluted earnings per share of $2.14 in the year-ago period.

On an adjusted basis, net income was $641 million and diluted earnings per share were $1.79.

“Since the start of 2021, we have experienced strong demand for our products as clients looked to manage risks associated with the potential for a post-pandemic economic recovery,” said CME Group Chairman and Chief Executive Officer Terry Duffy. “Trading volumes in Q1 have returned to pre-pandemic levels, with ADV in the first quarter representing our third-highest quarterly ADV ever, and open interest climbing above 100 million contracts. Additionally, we continue to deliver against our growth objectives, introducing several innovative, new products, completing migration of BrokerTec to CME Globex and agreeing to form a joint venture for post-trade services in OTC markets.”

First-quarter 2021 ADV was 21.8 million contracts, including non-U.S. ADV of 6.1 million contracts.

Clearing and transaction fees revenue for first-quarter 2021 totaled $1.0 billion. The total average rate per contract was $0.658. Market data revenue totaled $144 million for the first three months of 2021.

As of March 31, 2021, the company had approximately $1.0 billion in cash (including $111 million deposited with Fixed Income Clearing Corporation (FICC) and included in other current assets) and $3.4 billion of debt.

The company paid dividends during the first quarter of $1.2 billion, including the annual variable dividend for 2020 of $895 million. The company has returned over $15.6 billion to shareholders in the form of dividends since the implementation of the variable dividend policy in early 2012.