Chinedu Bolu
Autonomous Research US LP

Good afternoon, everyone. We'll get started with our next session with Intercontinental Exchange. I'm delighted to have the Chairman, Co-Founder -- Chairman and Founder of ICE, Jeffrey Sprecher. This is Jeff's ninth year in a row at this conference. So hopefully, we can get to 10 next year. But as always, thank you for the time. It's always a pleasure interviewing you.

Jeffrey Sprecher
Founder, Chairman & CEO

Great. Thank you, Christian. And thank you for those that are in the room here.

Chinedu Bolu
Autonomous Research US LP

Good stuff. And as always, you can ask a question through the Pigeonhole system. I'll try and get to it if we have time. Maybe Jeff, let's just start with the -- just the overall company strategy. You call it the all-weather model. It's certainly delivering. If I look at sort of EPS, very, very strong. All 3 segments are growing. So by almost any measure, the business is firing all cylinders, yet the stock trades at a meaningful discount to peers. Kind of what is the market missing? And what can you do to help close the gap between performance and fundamentals?

Jeffrey Sprecher
Founder, Chairman & CEO

Yes. Well, I feel like we're doing our job and you people in the room here need to lift up a little bit here, right? No, I do think we've been caught up a little bit in the SaaS apocalypse. A big part of the exchange and financial services businesses that we run are the distribution and sale of data. And similarly, we run a big