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REVENUE
 3 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
REVENUES
NOTE 3: REVENUES
Disaggregation of Revenues
The following table presents our revenue disaggregated by revenue source:
Three Months Ended
March 31,
(in millions)20212022
Transaction-based revenues:
Options$198$127
Cryptocurrencies8854
Equities13336
Other11
Total transaction-based revenues420218
Net interest revenues:
Margin interest2835
Securities lending3524
Interest on segregated cash and securities11
Other interest revenue11
Interest expenses related to credit facilities(3)(6)
Total net interest revenues6255
Other revenues4026
Total net revenues$522$299
Contract Balances
Contract receivables are recognized when we have an unconditional right to invoice and receive payment under a contract and are derecognized when cash is received. Transaction-based revenue receivables due from market makers are reported in receivables from brokers, dealers, and clearing organizations while other revenue receivables due from our relationship with a third-party investor communications company are reported in other current assets on the unaudited condensed consolidated balance sheets.
Contract liabilities, which consist of unearned subscription revenue, are recognized when users remit cash payments in advance of the time we satisfy our performance obligations and are recorded as other current liabilities on the unaudited condensed consolidated balance sheets.
The table below sets forth contract receivables and liabilities for the period indicated:
(in millions)Contract ReceivablesContract Liabilities
Beginning of period, January 1, 2022$83 $3 
End of period, March 31, 202290 3 
Changes during the period$7 $— 
The difference between the opening and ending balances of our contract receivables primarily results from timing differences between our performance and counterparties’ payments. We recognized substantially all revenue from amounts included in the opening contract liability balances in the three months ended March 31, 2022.