As far as the revenue growth investments and you made an explicit where do you see some of the payoff for that, I’ll ask Dave to jump in here as well as some of the other teams. As we kind of walk us through and remind folks, there was a little bit of a similar question at the beginning of last year, as you recall, as we broke this out for everyone. So, I’m going to take a walk back as our big investment thesis and how we thought about growing and the approach of growing Cboe is, right, the underlying themes of increasing our global network, increased access and distribution, providing new and existing products. And given the size, again, those incremental investments, we call them out, we want to give investors transparency. Here’s what we’re doing, and here’s our expectations for growth.
So if you go back and think about what did we carve out for 2021, right? We talked about the EU derivatives, we’re going to launch that, again, based on the back of the success of acquisition of then EuroCCP, now Cboe Clear, Cboe Euroclear, right? We talked about the investments in our U.S. Derivatives business with 24×5, incremental investment in sales and marketing teams. We started beginning the dialogue around DNA, around incremental investment around sales, products, marketing and cloud, really leaning into the cloud as far as increasing access and distribution enable that. And then with BIDS, we started rolling that out to our other geographies with respect to Canada. As we think about how did that contribute then to the success of ’21 and ’22, it did help growth in ’21 but again, starting to set the foundation for growth in ’22 as we saw continued another record year.
So, we do expect to see those — that continue, right? And we expect to see some of that BIDS and European derivatives investments in ’21, more of a ’24, ’25 continued payoff. Shift to ’22, shift to last year, we had this conversation, right? So we called out DNA, sales, products, marketing and further leaning into cloud to increase access. And like I said, Dave will talk about kind of some of the success we’ve seen there more explicitly. We talked about more of the U.S. Derivatives investment with respect to incremental sales, distribution and product innovation that we did around the Derivatives. The continuation of the EU Derivatives rollout, again, we pushed that to a more of ’24, ’25 contribution. And then finalizing the Canadian rollout and starting in Australia with respect to this.
Again, we saw the efforts from D&A and U.S. Derivatives initiatives add to 2022 results with the continued expectations that ’24, ’25 are going to continue growth drivers. Now flip to 2023, and that is a backdrop as we continue to lay this out, continuing themes here, right? D&A, as I mentioned earlier in my prepared remarks around incremental sales products, cloud investment and marketing, more U.S. Derivatives investment around the sales and expanded marketing, continuation of our EU Derivatives buildout to a less extend this year, looking to expand with our listings, a new listings effort around globally. In BIDS, finalizing Australia and Japan, a targeted disciplined R&D effort. So, we continue to expect to see some benefit in the current year, again, but supporting that longer-term growth rate and support those efforts for both today and tomorrow.
And you’ll see a little bit more of that this year and a little bit bigger around the marketing category as we continue to create a broader brand awareness around Cboe, again, creating a foundation for that incremental growth. So first, I’d like to turn it over to Dave to more address these, I’ll call it, the revenue growth investments. And then, Chris, I know I mentioned, we’ll talk some of the core as we go back to that
