Patrick Moley

“Gold and silver are now trading around the clock, and I think at the deck you said weekend volumes were at about 20% to 30% of those contracts ADV. So there's clearly demand there, but you did withdraw the 10-barrel WTI filing after the CFTC stay and the industry pushback that you cited.”

“So I had one on the dividend, pretty big step up to $0.15. Could you just walk us through the board's thinking around sizing that and whether this signals any sort of new payout framework, whether it's a target ratio or a certain level of excess capital that you think is appropriate?”

“And then as we look out over the next year or so, can you put a number around the number of firms that you expect to have onboarded, the number of buy-side institutions that you expect to be fully onboarded and trading on the platform?”

“So I guess I just was hoping you could maybe elaborate on the 3Q guidance for origination volumes. Seems like, you know, you're expecting strength in July to continue throughout the rest of So if you could just maybe talk about some of the assumptions that are baked in there.”

“I'm curious how much of the focus going forward is going to be on adding capabilities to deepen wallet share with existing clients versus kind of expanding the funnel and opening yourselves up to, you know, new client verticals that are somewhat untapped.”