Seess FY24 revenue from Pragma up in the mid-single digits as percentage. Pragma’s revenue in Q4 was $7.6M. Expenses are expected to be in the range of $480.0M-$500.0M and includes a full year of Pragma expenses estimated to range between $33.0M-$35.0M. Pragma expenses are expected to include amortization expense on acquired intangible assets of $4.8M. Based on the midpoint of the stated guidance range, total expenses are expected to increase by approximately 12%, 6% excluding the impact of Pragma expenses. The effective tax rate is expected to be between 24.0% and 25.0%. Capital expenditures to support new protocols, products and trading platform enhancements are expected to be $60.0M-$65.0M.
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