7Baggers

Tradeweb Markets Inc
(NASDAQ:TW) 

TW stock logo

Tradeweb Markets Inc. builds and operates electronic marketplaces in the Americas, Europe, the Middle East, Africa, Asia Pacific, and internationally. The company's marketplaces facilitate trading in a range of asset classes, including rates, credit, money markets, and equities. It offers pre-trade ...

Founded: 1996
IPO Price: $17 (Apr 04, 2019)
Full Time Employees: 919
CEO / Co-Founder: Lee Olesky 
Sector: Financial Services
Industry: Capital Markets
Trading SolutionsFinancial Services
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• Market Cap:
• Exchange:
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
    Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-10-01 2019-09-30 2019-06-30 2019-03-31 
                                  
      revenues
    		                              
      transaction fees and commissions
    		523,833,000 428,006,000 421,309,000 429,768,000 421,344,000 384,128,000 373,493,000 330,475,000 335,451,000 301,800,000 263,485,000 246,461,000 266,598,000 232,780,000 228,015,000 237,669,000 251,805,000 216,841,000 206,316,000 205,381,000 217,816,000          
      subscription fees
    		60,273,000 60,018,000 60,830,000 57,392,000 55,777,000 55,026,000 51,206,000 50,746,000 49,681,000 47,489,000 46,361,000 45,748,000 44,374,000 41,585,000 41,342,000 41,540,000 41,455,000 41,307,000 41,390,000 37,883,000 37,868,000 36,652,000 36,217,000 35,006,000 34,445,000  -71,346,000 35,387,000 34,566,000  
      lseg market data fees
    		26,742,000 23,169,000 20,534,000 20,569,000 28,925,000 20,552,000 20,512,000 20,581,000 20,500,000                      
      other
    		6,916,000 9,990,000 5,925,000 5,242,000 3,631,000 3,638,000 3,704,000 3,149,000 3,107,000 2,890,000 3,051,000 2,943,000 2,683,000 2,310,000 2,388,000 2,503,000 2,668,000 2,619,000 2,617,000 2,650,000 2,598,000 2,349,000 2,205,000 2,275,000 1,894,000  -3,922,000 2,007,000 2,169,000 1,894,000 
      total revenue
    		617,764,000 521,183,000 508,598,000 512,971,000 509,677,000 463,344,000 448,915,000 404,951,000 408,739,000 370,000,000 328,357,000 310,613,000 329,249,000 293,042,000 287,115,000 297,138,000 311,486,000 276,883,000 265,325,000 260,840,000 273,399,000 233,076,000 212,870,000 212,107,000 186,792,000  -399,621,000 200,981,000 190,485,000 186,792,000 
      yoy
    		21.21% 12.48% 13.29% 26.67% 24.69% 25.23% 36.72% 30.37% 24.14% 26.26% 14.36% 4.53% 5.70% 5.84% 8.21% 13.92% 13.93% 18.80% 24.64% 22.98% 46.37%  -153.27% 5.54% -1.94%      
      qoq
    		18.53% 2.47% -0.85% 0.65% 10.00% 3.21% 10.86% -0.93% 10.47% 12.68% 5.71% -5.66% 12.36% 2.06% -3.37% -4.61% 12.50% 4.36% 1.72% -4.59% 17.30% 9.49% 0.36% 13.55%   -298.84% 5.51% 1.98%  
      expenses
    		                              
      employee compensation and benefits
    		197,793,000 159,268,000 164,993,000 169,693,000 176,877,000 152,206,000 160,161,000 137,236,000 143,087,000 125,872,000 116,016,000 103,924,000 114,493,000 101,820,000 102,720,000 109,890,000 117,991,000 107,153,000 98,036,000 98,449,000 103,622,000 86,305,000 83,967,000 88,866,000 77,273,000  -172,476,000 79,644,000 95,995,000 77,273,000 
      depreciation and amortization
    		60,709,000 60,091,000 64,351,000 63,048,000 62,699,000 62,854,000 57,872,000 49,936,000 49,337,000 47,500,000 46,559,000 45,887,000 45,404,000 44,881,000 44,778,000 44,770,000 44,450,000 43,652,000 44,823,000 41,867,000 40,966,000 39,837,000 38,857,000 37,919,000 33,503,000  -69,908,000 35,133,000 34,292,000 33,503,000 
      technology and communications
    		39,549,000 35,520,000 33,867,000 30,212,000 28,728,000 28,728,000 24,300,000 24,230,000 21,310,000 21,505,000 19,733,000 18,701,000 17,567,000 17,231,000 16,816,000 16,034,000 15,776,000 13,941,000 14,747,000 13,957,000 13,544,000 13,103,000 12,037,000 12,042,000 10,040,000  -19,179,000 9,527,000 9,519,000  
      general and administrative
    		11,944,000 21,786,000 16,892,000 29,984,000 19,740,000 12,291,000 20,417,000 12,755,000 10,854,000 19,803,000 6,700,000 11,072,000 13,920,000 21,755,000 6,892,000 7,601,000 10,313,000 10,344,000 9,561,000 8,789,000 3,459,000 10,302,000 8,657,000 7,523,000 9,089,000  -14,124,000 7,507,000 9,365,000  
      professional fees
    		12,324,000 15,291,000 11,483,000 14,159,000 12,458,000 13,574,000 21,434,000 13,324,000 11,800,000 10,043,000 10,479,000 10,666,000 11,176,000 11,932,000 9,400,000 8,575,000 7,857,000 7,188,000 8,897,000 10,368,000 9,728,000 7,967,000 7,388,000 6,609,000 6,971,000  -12,787,000 7,272,000 6,738,000 6,971,000 
      occupancy
    		8,192,000 8,214,000 6,641,000 6,022,000 5,074,000 5,151,000 5,415,000 4,976,000 4,673,000 3,647,000 4,132,000 4,028,000 4,123,000 3,869,000 3,699,000 3,661,000 3,497,000 3,424,000 3,733,000 3,618,000 3,753,000 3,982,000 3,443,000 3,509,000 3,639,000  -7,592,000 3,640,000 3,621,000  
      total expenses
    		330,511,000 300,170,000 298,227,000 313,118,000 305,576,000 274,804,000 289,599,000 242,457,000 241,061,000 228,370,000 203,619,000 194,278,000 206,683,000 201,488,000 184,305,000 190,531,000 199,884,000 185,702,000 179,797,000 177,048,000 175,072,000 161,496,000 154,349,000 156,468,000 140,515,000  -296,066,000 142,723,000 159,530,000 140,515,000 
      operating income
    		287,253,000 221,013,000 210,371,000 199,853,000 204,101,000 188,540,000 159,316,000 162,494,000 167,678,000 141,630,000 124,738,000 116,335,000 122,566,000 91,554,000 102,810,000 106,607,000 111,602,000 91,181,000 85,528,000 83,792,000 98,327,000 71,580,000 58,521,000 55,639,000 46,277,000  -103,555,000 58,258,000 30,955,000 46,277,000 
      yoy
    		40.74% 17.22% 32.05% 22.99% 21.72% 33.12% 27.72% 39.68% 36.81% 54.70% 21.33% 9.13% 9.82% 0.41% 20.21% 27.23% 13.50% 27.38% 46.15% 50.60% 112.47%  -156.51% -4.50% 49.50%      
      qoq
    		29.97% 5.06% 5.26% -2.08% 8.25% 18.34% -1.96% -3.09% 18.39% 13.54% 7.22% -5.08% 33.87% -10.95% -3.56% -4.48% 22.40% 6.61% 2.07% -14.78% 37.37% 22.32% 5.18% 20.23%   -277.75% 88.20% -33.11%  
      operating margin %
    		46.50% 42.41% 41.36% 38.96% 40.05% 40.69% 35.49% 40.13% 41.02% 38.28% 37.99% 37.45% 37.23% 31.24% 35.81% 35.88% 35.83% 32.93% 32.24% 32.12% 35.96% 30.71% 27.49% 26.23% 24.77%  25.91% 28.99% 16.25% 24.77% 
      interest income
    		17,451,000 19,238,000 20,348,000 14,972,000 13,849,000 14,803,000 16,663,000 21,511,000 21,060,000 20,285,000 17,465,000 15,109,000 12,491,000 8,400,000 3,413,000 541,000 -447,000 -411,000 -361,000 -325,000 -493,000 -380,000 -349,000 -286,000 858,000  -882,000 636,000 175,000  
      interest expense
    		-624,000 -403,000 -522,000 -429,000 -587,000 -573,000 -1,446,000 -542,000 -1,718,000                      
      other income
    		-1,156,000 207,078,000 39,420,000 12,665,000 4,221,000 -1,124,000 10,000   -11,100,000 -1,907,000 -456,000 341,000                  
      income before taxes
    		302,924,000 456,712,000 269,617,000 227,061,000 221,584,000 210,246,000 173,673,000 183,463,000 187,020,000 141,298,000 140,296,000 130,988,000 135,398,000 112,607,000 106,223,000 107,148,000 111,155,000 103,515,000 85,167,000 83,467,000 97,834,000 82,625,000 58,172,000 55,353,000 47,135,000  -104,437,000 58,894,000 31,130,000 47,135,000 
      provision for income taxes
    		-69,757,000 -89,588,000 -59,068,000 -51,539,000 -53,279,000 -50,304,000 -43,450,000 -47,047,000 -43,638,000 -37,557,000 -28,666,000 -29,049,000 -33,205,000 -13,605,000 -24,657,000 -25,548,000 -13,710,000 -43,510,000 -19,862,000 -17,234,000 -16,269,000 -16,176,000 -11,124,000 -12,945,000 -4,783,000  -5,353,250 -10,316,000 -6,314,000  
      net income
    		233,167,000 367,124,000 210,549,000 175,522,000 168,305,000 159,942,000 130,223,000 136,416,000 143,382,000 103,741,000 111,630,000 101,939,000 102,193,000 99,002,000 81,566,000 81,600,000 97,445,000 60,005,000 65,305,000 66,233,000 81,565,000 66,449,000 47,048,000 42,408,000 42,352,000  -86,439,000 48,578,000 24,816,000 42,352,000 
      yoy
    		38.54% 129.54% 61.68% 28.67% 17.38% 54.17% 16.66% 33.82% 40.31% 4.79% 36.86% 24.93% 4.87% 64.99% 24.90% 23.20% 19.47% -9.70% 38.81% 56.18% 92.59%  -154.43% -12.70% 70.66%      
      qoq
    		-36.49% 74.37% 19.96% 4.29% 5.23% 22.82% -4.54% -4.86% 38.21% -7.07% 9.51% -0.25% 3.22% 21.38% -0.04% -16.26% 62.39% -8.12% -1.40% -18.80% 22.75% 41.24% 10.94% 0.13%   -277.94% 95.75% -41.41%  
      net income margin %
    		37.74% 70.44% 41.40% 34.22% 33.02% 34.52% 29.01% 33.69% 35.08% 28.04% 34.00% 32.82% 31.04% 33.78% 28.41% 27.46% 31.28% 21.67% 24.61% 25.39% 29.83% 28.51% 22.10% 19.99% 22.67%  21.63% 24.17% 13.03% 22.67% 
      less: net income attributable to non-controlling interests
    		27,883,000 42,132,000 24,913,000 21,740,000 19,923,000 17,732,000 16,307,000 17,177,000 17,240,000 14,427,000 13,016,000 12,857,000 14,337,000 10,056,000 12,483,000 13,256,000 14,480,000 11,115,000 10,542,000 10,917,000 13,706,000 11,389,000 10,236,000 11,912,000   7,738,500 18,966,000 11,988,000  
      net income attributable to tradeweb markets inc.
    		205,284,000 324,992,000 185,636,000 153,782,000 148,382,000 142,210,000 113,916,000 119,239,000 126,142,000 89,314,000 98,614,000 89,082,000 87,856,000 88,946,000 69,083,000 68,344,000 82,965,000 48,890,000 54,763,000 55,316,000 67,859,000 55,060,000 36,812,000 30,496,000   10,610,000 29,612,000 12,828,000  
      earnings per share attributable to tradeweb markets inc. class a and b common stockholders:
    		                              
      basic
    		0.96 1.52 0.87 0.72 0.7 0.66 0.53 0.56 0.59 0.42 0.47 0.42 0.42 0.42 0.34 0.33 0.41 0.223 0.27 0.27 0.34 0.158 0.2 0.17 0.19  -0.06 0.21 0.09  
      diluted
    		0.96 1.51 0.86 0.71 0.69 0.66 0.53 0.55 0.59 0.41 0.46 0.42 0.42 0.42 0.33 0.33 0.4 0.215 0.26 0.27 0.33 0.15 0.19 0.16 0.19  -0.06 0.2 0.09  
      weighted-average shares outstanding:
    		                              
      basic
    		212,685,136 213,213,371 213,359,090 213,339,761 213,087,496 213,030,056 213,206,193 213,162,158 212,709,872 210,796,802 211,618,475 211,569,728 208,105,437 205,576,637 205,721,162 204,501,035 204,061,347  202,238,122 201,749,985 199,064,607  187,774,170 177,649,501 222,222,197  222,221,628 142,935,206 142,933,192 222,222,197 
      diluted
    		213,324,648 214,898,240 214,983,486 214,971,946 214,895,418 214,924,763 215,096,974 214,895,947 214,660,853 212,668,808 213,491,634 213,156,753 210,143,734 208,400,040 208,329,469 207,272,675 207,497,102  208,197,439 207,463,960 205,028,717  194,955,695 185,489,824 223,320,457  222,243,851 151,362,643 150,847,183 223,320,457 
      tax receivable agreement liability adjustment
    		     8,600,000 -870,000                        
      refinitiv market data fees
    		         11,628,750 15,460,000 15,461,000 15,594,000 16,367,000 15,370,000 15,426,000 15,558,000 16,116,000 15,002,000 14,926,000 15,117,000 16,240,000 14,273,000 14,565,000 13,616,000  -26,785,000 13,251,000 13,385,000 13,616,000 
      transaction fees
    		                     134,922,000 120,582,000 122,146,000 102,640,000  -222,208,000 112,746,000 103,952,000  
      commissions
    		                     42,913,000 39,593,000 38,115,000 34,197,000  -75,360,000 37,590,000 36,413,000  
      less: pre-ipo net income attributable to tradeweb markets llc
    		                          10,588,000    
      net income attributable to tradeweb markets inc. and non-controlling interests
    		                     66,449,000 47,048,000 42,408,000   18,348,500 48,578,000 24,816,000  
      eps calculations for post-ipo and pre-ipo periods
    		                              
      earnings per share
    		                              
      basic
    		0.96 1.52 0.87 0.72 0.7 0.66 0.53 0.56 0.59 0.42 0.47 0.42 0.42 0.42 0.34 0.33 0.41 0.223 0.27 0.27 0.34 0.158 0.2 0.17 0.19  -0.06 0.21 0.09  
      diluted
    		0.96 1.51 0.86 0.71 0.69 0.66 0.53 0.55 0.59 0.41 0.46 0.42 0.42 0.42 0.33 0.33 0.4 0.215 0.26 0.27 0.33 0.15 0.19 0.16 0.19  -0.06 0.2 0.09  
      weighted-average shares outstanding
    		                              
      basic
    		212,685,136 213,213,371 213,359,090 213,339,761 213,087,496 213,030,056 213,206,193 213,162,158 212,709,872 210,796,802 211,618,475 211,569,728 208,105,437 205,576,637 205,721,162 204,501,035 204,061,347  202,238,122 201,749,985 199,064,607  187,774,170 177,649,501 222,222,197  222,221,628 142,935,206 142,933,192 222,222,197 
      diluted
    		213,324,648 214,898,240 214,983,486 214,971,946 214,895,418 214,924,763 215,096,974 214,895,947 214,660,853 212,668,808 213,491,634 213,156,753 210,143,734 208,400,040 208,329,469 207,272,675 207,497,102  208,197,439 207,463,960 205,028,717  194,955,695 185,489,824 223,320,457  222,243,851 151,362,643 150,847,183 223,320,457 
      contingent consideration
    		                              
      eps calculations for pre-ipo and post-ipo periods
    		                              
      transaction fees including from related parties of 59,643 and 52,918 in the three months ended march 31, 2019 and 2018, respectively
    		                             102,640,000 
      subscription fees including from related parties of 5,670 and 5,220 in the three months ended march 31, 2019 and 2018, respectively
    		                             34,445,000 
      commissions including from related parties of 16,186 and 11,631 in the three months ended march 31, 2019 and 2018, respectively
    		                             34,197,000 
      technology and communications including from related parties of 740 in both the three months ended march 31, 2019 and 2018
    		                             10,040,000 
      general and administrative including from related parties of 180 in both the three months ended march 31, 2019 and 2018
    		                             9,089,000 
      occupancy including from related parties of 155 in both the three months ended march 31, 2019 and 2018
    		                             3,639,000 
      interest income including from related parties of 208 and 21 in the three months ended march 31, 2019 and 2018, respectively
    		                             858,000 
      net income per share
    		                              
      basic
    		                             0.19 
      diluted
    		                             0.19 
      weighted-average number of shares outstanding
    		                              
      basic
    		212,685,136 213,213,371 213,359,090 213,339,761 213,087,496 213,030,056 213,206,193 213,162,158 212,709,872 210,796,802 211,618,475 211,569,728 208,105,437 205,576,637 205,721,162 204,501,035 204,061,347  202,238,122 201,749,985 199,064,607  187,774,170 177,649,501 222,222,197  222,221,628 142,935,206 142,933,192 222,222,197 
      diluted
    		213,324,648 214,898,240 214,983,486 214,971,946 214,895,418 214,924,763 215,096,974 214,895,947 214,660,853 212,668,808 213,491,634 213,156,753 210,143,734 208,400,040 208,329,469 207,272,675 207,497,102  208,197,439 207,463,960 205,028,717  194,955,695 185,489,824 223,320,457  222,243,851 151,362,643 150,847,183 223,320,457 
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 
                                   
        assets
      		                             
        cash and cash equivalents
      		1,937,301,000 2,084,739,000 1,907,922,000 1,630,121,000 1,306,455,000 1,340,302,000 1,173,734,000 1,718,230,000 1,544,881,000 1,706,468,000 1,493,410,000 1,395,901,000 1,232,675,000 1,257,229,000 1,110,227,000 959,719,000 828,061,000 972,048,000 821,905,000 681,225,000 809,938,000 791,280,000 677,352,000 559,889,000 424,357,000 460,711,000 389,930,000 313,582,000  
        restricted cash
      		1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,500,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,200,000 1,200,000 1,200,000 
        receivable from brokers and dealers and clearing organizations
      		131,252,000 8,630,000 91,640,000 543,114,000 135,760,000 67,805,000 297,842,000 432,037,000 676,111,000 381,178,000 4,966,000 128,015,000 14,216,000 11,632,000 856,000 1,646,000 91,085,000  33,950,000 37,436,000 25,362,000 368,000 57,346,000 66,821,000 95,908,000 30,641,000 747,660,000 255,250,000  
        deposits with clearing organizations
      		57,346,000 58,282,000 64,936,000 66,926,000 102,048,000 54,702,000 65,277,000 62,694,000 114,601,000 36,806,000 26,433,000 23,942,000 34,190,000 23,906,000 25,214,000 25,990,000 35,466,000 20,523,000 24,396,000 21,799,000 10,783,000 11,671,000 10,163,000 10,955,000 11,307,000 9,724,000 12,101,000 13,398,000  
        accounts receivable
      		351,009,000 257,845,000 271,241,000 264,825,000 271,505,000 222,268,000 248,615,000 233,084,000 192,601,000 168,407,000 167,039,000 163,219,000 171,244,000 142,676,000 150,201,000 155,426,000 164,968,000 129,937,000 133,351,000 141,903,000 144,494,000 105,286,000 97,783,000 101,512,000 133,468,000 92,814,000 95,398,000 92,854,000 94,284,000 
        furniture, equipment, purchased software and leasehold improvements, net of accumulated depreciation and amortization
      		79,409,000 78,193,000 75,101,000 40,680,000 43,837,000 45,973,000 32,707,000 32,456,000 33,410,000 33,559,000 36,151,000 35,823,000 36,885,000 37,413,000 33,433,000 35,300,000 35,141,000 31,060,000 28,079,000 32,775,000 32,733,000 33,814,000 33,428,000 35,733,000 37,061,000 40,405,000 36,879,000 35,742,000 36,790,000 
        lease right-of-use assets
      		124,426,000 123,065,000 121,821,000 29,643,000 29,813,000 33,550,000 26,104,000 25,662,000 22,113,000 25,206,000 19,406,000 20,427,000 22,603,000 24,933,000 25,603,000 26,915,000 28,820,000 20,496,000            
        software development costs, net of accumulated amortization
      		264,114,000 270,295,000 278,009,000 283,193,000 288,368,000 296,721,000 305,088,000 151,418,000 155,007,000 131,332,000 134,275,000 135,767,000 138,478,000 141,833,000 144,687,000 148,483,000 152,241,000 156,203,000 160,253,000 163,770,000 165,587,000 168,030,000 169,877,000 171,155,000 172,100,000 173,086,000 173,066,000 172,614,000 171,705,000 
        goodwill
      		3,150,112,000 3,150,112,000 3,150,112,000 3,150,112,000 3,150,112,000 3,150,112,000 3,149,956,000 2,857,713,000 2,857,713,000 2,815,524,000 2,815,317,000 2,780,259,000 2,780,259,000 2,780,259,000 2,780,259,000 2,780,259,000 2,780,259,000 2,780,259,000 2,782,779,000 2,782,779,000 2,694,797,000 2,694,797,000 2,694,797,000 2,694,797,000 2,694,797,000 2,694,797,000 2,694,797,000 2,694,797,000 2,694,797,000 
        intangible assets, net of accumulated amortization
      		1,118,932,000 1,148,015,000 1,177,099,000 1,211,697,000 1,246,295,000 1,280,892,000 1,315,490,000 1,004,116,000 1,032,797,000 1,004,797,000 1,032,354,000 1,019,219,000 1,046,018,000 1,072,818,000 1,099,617,000 1,126,417,000 1,153,216,000 1,180,016,000 1,204,806,000 1,231,567,000 1,157,182,000 1,182,034,000 1,206,886,000 1,231,737,000 1,256,589,000 1,281,441,000 1,306,293,000 1,331,145,000 1,355,996,000 
        receivable and due from related parties
      		3,228,000 8,303,000                            
        deferred tax asset
      		582,980,000 568,832,000 641,404,000 651,842,000 660,722,000 659,203,000 634,672,000 684,200,000 693,240,000 684,250,000 693,171,000 708,947,000 679,458,000 689,442,000 676,709,000 638,572,000 651,091,000 618,970,000 641,708,000 659,274,000 662,210,000 579,562,000 516,051,000 525,534,000 291,920,000 256,450,000 103,153,000 98,469,000  
        digital assets and other investments at fair value
      		296,159,000 291,997,000                            
        other assets
      		198,481,000 140,249,000 215,116,000 182,166,000 132,946,000 107,371,000 86,135,000 78,951,000 69,935,000 70,819,000 77,866,000 73,041,000 79,177,000 76,984,000 79,902,000 83,997,000 77,334,000 76,355,000 78,549,000 83,663,000 75,249,000 82,460,000 44,561,000 38,254,000 37,422,000 27,236,000 29,650,000 30,302,000  
        total assets
      		8,295,749,000 8,189,557,000 7,995,948,000 8,056,055,000 7,369,961,000 7,267,993,000 7,336,717,000 7,284,541,000 7,395,949,000 7,059,538,000 6,504,553,000 6,490,501,000 6,240,066,000 6,260,131,000 6,136,601,000 5,989,538,000 6,001,123,000 5,990,180,000 5,936,500,000 5,864,890,000 5,808,934,000 5,679,850,000 5,537,353,000 5,463,881,000 5,184,716,000 5,095,334,000 5,622,680,000 5,072,347,000 4,881,585,000 
        liabilities and equity
      		                             
        liabilities
      		                             
        payable to brokers and dealers and clearing organizations
      		130,651,000 3,363,000 79,662,000 542,738,000 104,799,000 67,816,000 286,179,000 424,751,000 646,643,000 351,864,000 4,966,000 128,009,000 14,215,000 11,264,000 855,000 1,644,000 70,512,000  33,828,000 36,611,000 25,145,000 252,000 56,802,000 66,697,000 55,157,000 30,452,000 713,020,000 255,163,000  
        accrued compensation
      		110,899,000 251,169,000 211,000,000 158,387,000 103,485,000 222,959,000 179,142,000 119,270,000 81,765,000 164,329,000 121,227,000 84,878,000 65,035,000 150,884,000 123,531,000 90,774,000 74,941,000 154,824,000 113,038,000 85,635,000 70,202,000 129,288,000 101,436,000 71,879,000 58,016,000 119,415,000 94,652,000 68,622,000 54,087,000 
        deferred revenue
      		54,242,000 29,030,000 36,266,000 40,614,000 46,980,000 30,800,000 29,580,000 28,174,000 27,488,000 25,746,000 31,404,000 27,412,000 30,577,000 22,827,000 28,568,000 23,862,000 27,667,000 24,930,000 29,780,000 28,052,000 27,186,000 23,193,000 29,857,000 27,428,000 26,269,000 23,990,000 28,557,000 25,270,000  
        accounts payable, accrued expenses and other liabilities
      		151,629,000 183,970,000 187,357,000 146,775,000 122,132,000 95,290,000 99,828,000 77,148,000 87,296,000 57,501,000 46,668,000 40,914,000 53,361,000 52,508,000 37,375,000 39,783,000 47,489,000 38,832,000 38,649,000 41,172,000 44,291,000 42,692,000 36,791,000 39,258,000 46,134,000 32,834,000 44,650,000 34,502,000  
        lease liabilities
      		142,826,000 139,168,000 135,633,000 32,322,000 32,271,000 35,748,000 28,590,000 28,105,000 24,703,000 27,463,000 22,040,000 23,287,000 25,806,000 27,943,000 28,668,000 29,922,000 31,926,000 24,331,000            
        payable and due to related parties
      		9,106,000 7,090,000                            
        deferred tax liability
      		50,958,000 50,011,000 44,067,000 42,856,000 42,742,000 42,893,000 43,018,000 18,751,000 19,713,000 20,767,000 18,004,000 18,913,000 20,204,000 21,251,000 19,881,000 20,274,000 20,659,000 21,011,000 17,566,000 18,134,000 18,804,000 19,425,000 20,565,000 21,411,000 21,572,000 21,572,000 20,620,000 21,304,000 19,589,000 
        tax receivable agreement liability
      		335,800,000 336,519,000 351,402,000 351,402,000 369,773,000 372,839,000 382,407,000 380,937,000 431,980,000 457,523,000 447,976,000 447,976,000 420,070,000 425,724,000 439,348,000 409,153,000 409,113,000 412,449,000 425,150,000 425,150,000 425,150,000 404,332,000 372,953,000 372,953,000 252,029,000 240,817,000 171,426,000 171,426,000  
        total liabilities
      		986,111,000 1,000,320,000 1,060,985,000 1,329,779,000 822,756,000 869,108,000 1,050,326,000 1,077,136,000 1,319,922,000 1,128,132,000 692,812,000 773,133,000 639,201,000 713,815,000 683,034,000 618,770,000 707,392,000 681,237,000 688,171,000 666,562,000 643,796,000 660,687,000 658,134,000 634,738,000 495,868,000 502,589,000 1,135,444,000 617,547,000 260,331,000 
        commitments and contingencies
      		                             
        equity
      		                             
        preferred stock, 0.00001 par value...
      		                             
        class a common stock, 0.00001 par value...
      		1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000         
        class b common stock, 0.00001 par value...
      		1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000         
        class c common stock, 0.00001 par value...
      		                             
        class d common stock, 0.00001 par value...
      		                             
        additional paid-in capital
      		4,886,485,000 4,895,810,000 4,865,172,000 4,842,990,000 4,821,151,000 4,813,408,000 4,788,780,000 4,795,562,000 4,771,075,000 4,738,758,000 4,706,499,000 4,693,795,000 4,577,609,000 4,577,270,000 4,542,160,000 4,420,405,000 4,388,663,000 4,401,366,000 4,366,044,000 4,347,884,000 4,307,046,000 4,143,094,000 3,940,592,000 3,922,559,000 3,426,625,000 3,329,386,000 2,855,885,000 2,846,681,000  
        accumulated other comprehensive income
      		7,933,000 10,899,000 7,749,000 7,031,000 -1,811,000 -9,981,000 1,115,000 -7,920,000 -7,524,000 -5,389,000 -10,836,000 -6,818,000 -7,765,000 -10,113,000 -21,601,000 -10,404,000 -1,964,000 1,604,000 2,279,000 4,714,000 4,102,000 4,314,000 100,000 -2,693,000 -2,179,000 1,366,000 -1,854,000 -525,000 122,000 
        retained earnings
      		1,725,834,000 1,601,044,000 1,407,775,000 1,247,748,000 1,119,572,000 996,763,000 910,750,000 843,158,000 745,240,000 640,384,000 570,149,000 495,481,000 433,049,000 386,632,000 348,329,000 304,899,000 261,915,000 242,623,000 221,947,000 195,368,000 207,870,000 156,041,000 116,161,000 94,374,000 78,361,000 47,833,000 19,570,000 1,393,000  
        total stockholders’ equity attributable to tradeweb markets inc.
      		6,620,254,000 6,507,755,000 6,280,698,000 6,097,771,000 5,938,914,000 5,800,192,000 5,700,647,000 5,630,802,000 5,508,793,000 5,373,755,000 5,265,814,000 5,182,460,000 5,002,895,000 4,953,791,000 4,868,890,000 4,714,902,000 4,648,616,000 4,645,595,000            
        non-controlling interests
      		689,384,000 681,482,000 654,265,000 628,505,000 608,291,000 598,693,000 585,744,000 576,603,000 567,234,000 557,651,000 545,927,000 534,908,000 597,970,000 592,525,000 584,677,000 655,866,000 645,115,000 663,348,000 658,057,000 650,360,000 646,118,000 715,712,000 822,364,000 814,901,000 1,186,039,000 1,214,157,000 1,613,633,000 1,607,249,000  
        total equity
      		7,309,638,000 7,189,237,000 6,934,963,000 6,726,276,000 6,547,205,000 6,398,885,000 6,286,391,000 6,207,405,000 6,076,027,000 5,931,406,000 5,811,741,000 5,717,368,000 5,600,865,000 5,546,316,000 5,453,567,000 5,370,768,000 5,293,731,000 5,308,943,000 5,248,329,000 5,198,328,000 5,165,138,000 5,019,163,000 4,879,219,000 4,829,143,000 4,688,848,000 4,592,745,000 4,487,236,000 4,454,800,000  
        total liabilities and equity
      		8,295,749,000 8,189,557,000 7,995,948,000 8,056,055,000 7,369,961,000 7,267,993,000 7,336,717,000 7,284,541,000 7,395,949,000 7,059,538,000 6,504,553,000 6,490,501,000 6,240,066,000 6,260,131,000 6,136,601,000 5,989,538,000 6,001,123,000 5,990,180,000 5,936,500,000 5,864,890,000 5,808,934,000         
        receivable and due from affiliates
      		  547,000 736,000 1,100,000 8,094,000 97,000 2,980,000 2,540,000 192,000 3,165,000 4,441,000 3,863,000                 
        payable and due to affiliates
      		  15,598,000 14,685,000 574,000 763,000 1,582,000  334,000 1,327,000 527,000 1,744,000 9,933,000                 
        securities sold under agreements to repurchase
      		         21,612,000       20,511,000          24,938,000   
        receivable from affiliates
      		             6,000 8,893,000 5,814,000 2,441,000 3,313,000 2,806,000 2,801,000 2,527,000 111,000 36,000 1,482,000 1,506,000 2,525,000 3,515,000 2,849,000 3,026,000 
        payable to affiliates
      		             1,414,000 4,808,000 3,358,000 4,574,000 4,860,000 3,390,000 3,036,000 1,816,000 5,142,000 4,977,000 3,164,000 2,288,000 1,506,000 3,737,000 6,004,000 6,050,000 
        employee equity compensation payable
      		                     1,900,000 1,513,000 1,642,000 1,037,000 1,048,000 714,000 728,000 299,000 
        right-of-use assets
      		                  22,918,000 24,898,000 27,072,000 29,437,000 28,073,000 25,012,000 27,281,000 24,504,000 29,038,000 30,145,000 32,647,000 
        lease liability
      		                  26,770,000 28,772,000 31,202,000 34,463,000 33,240,000 30,306,000 33,366,000 30,955,000 33,130,000 34,528,000 37,310,000 
        total stockholders' equity attributable to tradeweb markets inc.
      		                  4,590,272,000 4,547,968,000 4,519,020,000 4,303,451,000 4,056,855,000 4,014,242,000 3,502,809,000     
        liabilities and stockholders' equity
      		                             
        stockholders' equity
      		                             
        preferred stock, .00001 par value...
      		                             
        class a common stock, .00001 par value...
      		                     1,000 1,000 1,000 1,000 1,000    
        class b common stock, .00001 par value...
      		                     1,000 1,000 1,000 1,000 1,000 1,000 1,000  
        class c common stock, .00001 par value...
      		                             
        class d common stock, .00001 par value...
      		                         1,000 1,000 1,000  
        total liabilities and stockholders' equity
      		                     5,679,850,000 5,537,353,000 5,463,881,000 5,184,716,000     
        liabilities and stockholders' equity/members' capital
      		                             
        mezzanine capital
      		                             
        class c shares and class p(c) shares
      		                             
        stockholders' equity/members' capital
      		                             
        members' capital
      		                             
        total stockholders' equity attributable to tradeweb markets inc./members' capital
      		                         3,378,588,000 2,873,603,000   
        total liabilities and stockholders' equity/members' capital
      		                         5,095,334,000 5,622,680,000 5,072,347,000  
        total stockholders' equity attributable to tradeweb markets inc./members' equity
      		                           2,847,551,000  
        cash and cash equivalents including cash deposited with related parties of 246,416 and 283,790 at march 31, 2019 and december 31, 2018, respectively
      		                            361,608,000 
        receivable from brokers and dealers and clearing organizations including receivables from related parties of 199 and 3,332 at march 31, 2019 and december 31, 2018, respectively
      		                            88,422,000 
        deposits with clearing organizations including deposits from related parties of 500 at both march 31, 2019 and december 31, 2018
      		                            8,872,000 
        other assets including other assets from related parties of 0 and 9 at march 31, 2019 and december 31, 2018, respectively
      		                            32,238,000 
        liabilities and members’ capital
      		                             
        payable to brokers and dealers and clearing organizations including payables to related parties of 0 and 2,404 at march 31, 2019 and december 31, 2018, respectively
      		                            81,214,000 
        deferred revenue including deferred revenue from related parties of 8,556 and 9,151 at march 31, 2019 and december 31, 2018, respectively
      		                            28,487,000 
        accounts payable, accrued expenses and other liabilities including payables to related parties of 387 and 0 at march 31, 2019 and december 31, 2018, respectively
      		                            33,295,000 
        mezzanine capital class c shares and class p(c) shares
      		                            23,275,000 
        members’ capital
      		                            4,597,857,000 
        total members’ capital
      		                            4,597,979,000 
        total liabilities and members’ capital
      		                            4,881,585,000 
        revenues
      		                             
        transaction fees including from related parties of 59,643 and 52,918 in the three months ended march 31, 2019 and 2018, respectively
      		                            102,640,000 
        subscription fees including from related parties of 5,670 and 5,220 in the three months ended march 31, 2019 and 2018, respectively
      		                            34,445,000 
        commissions including from related parties of 16,186 and 11,631 in the three months ended march 31, 2019 and 2018, respectively
      		                            34,197,000 
        refinitiv market data fees
      		                            13,616,000 
        other
      		                            1,894,000 
        gross revenue
      		                            186,792,000 
        contingent consideration
      		                             
        net revenue
      		                            186,792,000 
        expenses
      		                             
        employee compensation and benefits
      		                            77,273,000 
        depreciation and amortization
      		                            33,503,000 
        technology and communications including from related parties of 740 in both the three months ended march 31, 2019 and 2018
      		                            10,040,000 
        general and administrative including from related parties of 180 in both the three months ended march 31, 2019 and 2018
      		                            9,089,000 
        professional fees
      		                            6,971,000 
        occupancy including from related parties of 155 in both the three months ended march 31, 2019 and 2018
      		                            3,639,000 
        total expenses
      		                            140,515,000 
        operating income
      		                            46,277,000 
        interest income including from related parties of 208 and 21 in the three months ended march 31, 2019 and 2018, respectively
      		                            858,000 
        income before taxes
      		                            47,135,000 
        benefit from income taxes
      		                             
        net income
      		                            42,352,000 
        net income per share
      		                             
        basic
      		                            190 
        diluted
      		                            190 
        weighted-average number of shares outstanding
      		                             
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-10-01 2019-06-30 2019-03-31 
                                    
          cash flows from operating activities
        		                            
          net income
        		233,167,000 367,124,000 210,549,000 175,522,000 168,305,000 159,942,000 130,223,000 136,416,000 143,382,000 103,741,000 111,630,000 101,939,000 102,193,000 99,002,000 81,566,000 81,600,000 97,445,000 60,005,000 65,305,000 66,233,000 81,565,000 66,449,000 47,048,000 42,408,000 62,485,000 57,278,000 67,168,000 42,352,000 
          adjustments to reconcile net income to net cash from operating activities:
        		                            
          depreciation and amortization
        		60,709,000 60,091,000 64,351,000 63,048,000 62,699,000 62,854,000 57,872,000 49,936,000 49,337,000 47,500,000 46,559,000 45,887,000 45,404,000 44,881,000 44,778,000 44,770,000 44,450,000 43,652,000 44,823,000 41,867,000 40,966,000 39,837,000 38,857,000 37,919,000 37,176,000 36,402,000 67,795,000 33,503,000 
          stock-based compensation expense
        		25,060,000 28,305,000 26,136,000 26,909,000 22,187,000 23,363,000 26,169,000 23,715,000 16,402,000 20,458,000 17,347,000 15,713,000 11,610,000 17,212,000 14,757,000 20,963,000 13,712,000 15,000,000 13,776,000 12,407,000 10,760,000 11,212,000 9,757,000 10,346,000 7,971,000 8,732,000 31,960,000  
          digital assets received as revenue
        		-3,669,000                            
          deferred taxes
        		21,408,000  8,855,000 5,154,000 9,610,000  13,326,000 8,890,000 8,118,000 19,825,000 20,807,000 25,041,000 24,223,000 3,785,000 18,527,000 18,911,000 11,640,000 38,329,000 18,331,000 12,752,000 15,997,000 30,454,000 12,527,000 14,981,000 7,227,000 24,042,000 -3,596,000  
          other loss
        		1,156,000 -207,078,000 -39,420,000 -12,665,000 -4,221,000 1,124,000    11,100,000 1,907,000 456,000 -341,000                
          decrease in operating assets:
        		                            
          receivable from/payable to brokers and dealers and clearing organizations
        		4,666,000 6,711,000 -11,602,000 30,585,000 -30,972,000 11,675,000 -4,377,000 22,182,000 -155,000 -29,314,000 6,000 -5,000 367,000 -367,000 2,000 20,570,000 -20,573,000 123,000 702,000 -608,000 -101,000 429,000 -420,000 40,627,000 -40,563,000    
          deposits with clearing organizations
        		864,000 6,671,000 1,914,000 35,330,000 -47,246,000 10,340,000 -1,790,000 51,909,000 -77,811,000 -10,297,000 -2,552,000 10,290,000 -10,240,000 1,477,000 592,000 9,330,000 -14,996,000 3,860,000 -2,633,000 7,140,000 906,000 -1,437,000 846,000 345,000 -1,668,000 2,468,000 -1,965,000 2,570,000 
          accounts receivable
        		-95,857,000 13,613,000 -8,426,000 11,386,000 -46,632,000 21,327,000 -599,000 -40,292,000 -24,657,000 1,249,000 -4,091,000 9,072,000 -27,311,000 12,710,000 700,000 5,799,000 -36,437,000 3,468,000 7,345,000 5,649,000 -38,831,000 -5,663,000 5,205,000 32,291,000 -43,453,000 5,138,000 -5,756,000  
          receivable and due from related parties/payable and due to related parties
        		7,426,000                            
          deferred tax asset as a result of transferable tax credit purchase
        		 6,211,000 0 0 17,646,000                        
          other assets
        		-8,829,000 5,248,000 9,037,000 -11,877,000 -18,909,000 -10,350,000 -5,311,000 2,077,000 1,477,000 -1,029,000 -4,224,000 4,228,000 -2,894,000 2,313,000 3,630,000 -6,984,000 -1,079,000 1,262,000 5,008,000 -7,480,000 7,226,000 -17,647,000 -6,871,000 -754,000 -9,837,000 2,593,000 -8,825,000  
          increase in operating liabilities:
        		                            
          accrued compensation
        		-141,244,000 39,635,000 52,553,000 54,145,000 -121,644,000 46,268,000 54,639,000 40,882,000 -85,330,000 41,778,000 33,160,000 21,909,000 -88,883,000 25,603,000 35,764,000 19,106,000 -81,025,000 42,155,000 27,954,000 13,955,000 -59,275,000 26,499,000 28,831,000 13,767,000 -59,910,000 23,359,000 -51,569,000  
          deferred revenue
        		25,347,000 -7,265,000 -4,272,000 -6,559,000 16,064,000 1,358,000 993,000 688,000 1,538,000 -5,714,000 3,955,000 -3,174,000 7,729,000 -5,845,000 4,822,000 -3,732,000 2,766,000 -4,853,000 1,756,000 245,000 3,995,000 -6,675,000 2,411,000 1,151,000 2,306,000 -4,587,000 -2,613,000 602,000 
          accounts payable, accrued expenses and other liabilities
        		-26,375,000 5,066,000 31,180,000 24,180,000 26,716,000 -6,799,000 15,709,000 -9,870,000 30,718,000 10,505,000 -4,321,000 -11,193,000 7,196,000 11,580,000 -2,392,000 -7,130,000 8,137,000 650,000 -313,000 -4,587,000 770,000 7,172,000 -2,236,000 -7,809,000 14,067,000 -10,159,000 -3,661,000  
          net cash from operating activities
        		103,829,000 355,949,000 342,303,000 409,187,000 60,207,000 282,025,000 292,132,000 285,670,000 37,914,000 244,761,000 217,389,000 213,099,000 70,840,000 208,000,000 201,507,000 178,072,000 45,243,000 191,651,000 182,364,000 148,434,000 55,572,000 139,702,000 138,979,000 186,311,000 -21,758,000 120,538,000 76,973,000  
          capital expenditures
        		-27,110,000 -34,808,000 -31,411,000 -22,057,000 -14,817,000 -37,958,000 -17,016,000 -16,628,000 -17,267,000 -12,192,000 -17,901,000 -14,957,000 -16,714,000 -14,667,000 -12,342,000 -15,047,000 -18,040,000 -15,821,000 -8,846,000 -8,701,000 -8,266,000 -8,182,000 -8,066,000 -7,735,000 -7,063,000 -7,481,000 -13,914,000  
          free cash flows
        		76,719,000 321,141,000 310,892,000 387,130,000 45,390,000 244,067,000 275,116,000 269,042,000 20,647,000 232,569,000 199,488,000 198,142,000 54,126,000 193,333,000 189,165,000 163,025,000 27,203,000 175,830,000 173,518,000 139,733,000 47,306,000 131,520,000 130,913,000 178,576,000 -28,821,000 113,057,000 63,059,000  
          cash flows from investing activities
        		                            
          cash paid for investments
        		-50,191,000 0 -18,440,000   -8,610,000 0 -11,085,000 -500,000                    
          purchases of furniture, equipment, software and leasehold improvements
        		-9,596,000 -19,411,000 -14,031,000 -5,465,000 -1,645,000 -25,231,000 -4,312,000 -4,828,000 -6,589,000 -1,062,000 -6,301,000 -4,287,000 -6,879,000 -5,255,000 -3,136,000 -5,762,000 -9,061,000 -7,164,000           
          capitalized software development costs
        		-17,514,000 -15,397,000 -17,380,000 -16,592,000 -13,172,000 -12,727,000 -12,704,000 -11,800,000 -10,678,000 -11,130,000 -11,600,000 -10,670,000 -9,835,000 -9,412,000 -9,206,000 -9,285,000 -8,979,000 -8,657,000 -8,846,000 -8,701,000 -8,266,000 -8,182,000 -8,066,000 -7,735,000 -7,063,000 -7,481,000 -13,914,000  
          net cash from investing activities
        		-77,301,000 -34,808,000 -34,851,000 -42,057,000 -14,817,000 -46,287,000 -788,199,000 -27,713,000 -106,991,000 -12,256,000 -86,449,000 -17,346,000 -16,714,000 -14,667,000 -12,342,000 -15,047,000 -18,040,000 -14,726,000 -10,017,000 -221,742,000 -12,625,000 -33,188,000 -10,168,000 -10,819,000 -8,361,000 -14,695,000 -17,707,000  
          cash flows from financing activities
        		                            
          share repurchases pursuant to share repurchase programs
        		-53,331,000 -103,329,000 0 0 -844,000 -34,661,000    -2,331,000 -2,818,000 -9,245,000 -20,811,000                
          proceeds from stock-based compensation exercises
        		2,983,000     0 1,915,000 2,021,000 2,807,000 7,244,000 412,000 3,190,000 4,392,000 515,000 2,059,000 6,924,000 692,000 21,127,000 4,441,000 21,139,000 46,397,000 31,296,000 6,915,000 27,197,000 35,422,000    
          dividends
        		-29,770,000 -25,556,000 -25,609,000 -25,606,000 -25,573,000 -21,305,000 -21,320,000 -21,321,000 -21,286,000 -19,079,000 -19,049,000 -19,048,000 -18,733,000 -16,643,000 -16,653,000 -16,360,000 -16,350,000 -16,214,000 -16,184,000 -16,142,000 -16,030,000 -15,180,000 -15,025,000 -14,483,000 -13,400,000 -13,067,000 -11,435,000  
          distributions to non-controlling interests
        		-7,646,000 -10,547,000 -1,630,000 -5,112,000 -7,416,000 -2,941,000 -8,768,000 -9,963,000 -6,095,000 -4,907,000 -1,963,000 -3,286,000 -2,283,000 -3,291,000 -2,857,000 -2,568,000 -2,178,000 -4,162,000           
          payroll taxes paid for stock-based compensation
        		-83,659,000 -523,000 -1,219,000 -1,639,000 -46,127,000 -1,439,000 -2,101,000 -3,804,000 -40,653,000 -2,157,000 -7,436,000 -4,451,000 -37,297,000 -1,427,000 -2,272,000 -4,049,000 -93,927,000 -14,451,000 -3,139,000 -7,970,000 -45,464,000        
          payments on tax receivable agreement liability
        		-719,000 -5,308,000 0 -18,371,000 -3,066,000 0 -370,000 -51,043,000 -25,543,000 0 0 0 -5,724,000 0 0 0 -8,995,000 44,000 0 0 -6,849,000        
          net cash from financing activities
        		-172,142,000 -145,263,000 -28,458,000 -50,728,000 -83,026,000 -60,346,000 -55,035,000 -84,110,000 -90,770,000 -24,024,000 -30,854,000 -32,840,000 -80,456,000 -54,846,000 -28,723,000 -25,053,000 -168,081,000 -25,656,000 -29,931,000 -56,063,000 -24,450,000 3,370,000 -13,894,000 -39,892,000 -2,277,000 -39,286,000 -155,650,000  
          effect of exchange rate changes on cash, cash equivalents and restricted cash
        		-1,824,000 939,000 -1,193,000 7,264,000 3,789,000 -8,824,000 6,606,000 -498,000 -1,740,000 4,577,000 -3,077,000 813,000 1,776,000 8,515,000 -9,934,000 -6,314,000 -3,109,000 -1,126,000 -1,736,000 658,000 161,000        
          net increase in cash, cash equivalents and restricted cash
        		-147,438,000 176,817,000 277,801,000 323,666,000 -33,847,000 166,568,000 -544,496,000 173,349,000 -161,587,000 213,058,000 97,009,000 163,726,000 -24,554,000 147,002,000 150,508,000 131,658,000 -143,987,000 150,143,000 140,680,000 -128,713,000 18,658,000        
          cash, cash equivalents and restricted cash
        		                            
          beginning of period
        		2,085,739,000 0 0 0 1,341,302,000 0 0 0 1,707,468,000 0 0 0 1,258,229,000 0 0 0 973,048,000 0 0 0 792,280,000 0 0 0 461,711,000 0 411,304,000 411,304,000 
          end of period
        		1,938,301,000 176,817,000 277,801,000 323,666,000 1,307,455,000 166,568,000 -544,496,000 173,349,000 1,545,881,000 213,058,000 97,009,000 163,726,000 1,233,675,000 147,002,000 150,508,000 131,658,000 829,061,000 150,143,000 140,680,000 -128,713,000 810,938,000 113,928,000 117,463,000 135,532,000 425,357,000 70,581,000 314,782,000 362,808,000 
          deferred tax expense
        		                            
          tax receivable agreement liability adjustment
        		     -8,600,000                       
          securities sold under agreements to repurchase
        		     0 0 0 -21,612,000        20,511,000            
          cash paid for acquisitions, net of cash acquired
        		     281,000 -771,183,000 0 -89,224,000 -64,000        1,095,000 0          
          cash paid for foreign currency call option, net of sale proceeds
        		         0                   
          cash received from sale of digital assets
        		 0                           
          deferred financing costs
        		                            
          receivable and due from affiliates/payable and due to affiliates
        		  1,448,000 14,029,000 6,604,000 -8,600,000 4,418,000 -863,000 -3,493,000 3,830,000 -2,794,000 -7,064,000 1,787,000                
          cash paid for foreign currency call option
        		                            
          employee equity compensation payable
        		                 0 15,000 0 -1,915,000 387,000 -117,000 606,000 -11,000 334,000 -16,732,000  
          loss from investments
        		                            
          receivable from/payable to affiliates
        		             8,302,000 -1,239,000 -4,620,000 692,000 745,000 295,000 861,000 -6,491,000 110,000 3,141,000 433,000 2,452,000    
          purchase of equity investments
        		                            
          proceeds from issuance of class a common stock in follow-on offering, net of underwriting discounts
        		                            
          purchase of llc interests
        		                     0 0    -1,161,270,000  
          offering costs from issuance of class a common stock in follow-on offering
        		                            
          share repurchases pursuant to the share repurchase program
        		              -9,000,000 -9,000,000 -47,323,000 -12,000,000 -12,555,000          
          supplemental disclosure of cash flow information
        		                            
          income taxes paid, net of
        		              5,666,000 2,562,000 2,764,000  1,308,000 3,971,000 -4,175,000        
          non-cash investing and financing activities
        		                            
          furniture, equipment, software and leasehold improvement additions included in accounts payable
        		                            
          other - see note 9
        		                            
          items arising from llc interest ownership changes:
        		                            
          establishment of liabilities under tax receivable agreement
        		              30,195,000 40,000 5,659,000 0 0 0 27,666,000 42,804,000 0 120,924,000 11,212,000 102,525,000 171,426,000  
          deferred tax asset
        		              57,935,000 7,489,000 44,335,000 12,130,000 1,481,000 10,465,000 99,260,000 96,770,000 3,786,000 248,770,000 43,948,000 176,375,000 93,194,000  
          reconciliation of cash, cash equivalents and restricted cash as shown on the statements of financial condition:
        		              0 0 2,022,000  0          
          cash and cash equivalents
        		              150,508,000 131,658,000 828,061,000  140,680,000 -128,713,000 809,938,000 113,928,000 117,463,000 135,532,000 424,357,000 70,781,000 313,582,000  
          restricted cash
        		              0 0 1,000,000  0 0 1,000,000 0 0 0 1,000,000 -200,000 1,200,000  
          cash, cash equivalents and restricted cash shown in the statement of cash flows
        		              150,508,000 131,658,000 829,061,000  140,680,000 -128,713,000 810,938,000 113,928,000 117,463,000 135,532,000 425,357,000 70,581,000 314,782,000  
          non-cash financing activities
        		                            
          unsettled share repurchases included in other liabilities
        		                            
          withholding taxes payable relating to stock-based compensation settlements included in accrued compensation
        		                1,831,000            
          pre-ipo capital distributions
        		                         0 -120,000,000  
          proceeds from issuance of class a common stock in the ipo and follow-on offerings, net of underwriting discounts
        		                     0 0      
          offering costs from issuance of class a common stock in the ipo and follow-on offerings
        		                     -105,000 -766,000      
          income taxes paid, net of refunds
        		                            
          lease right-of-use assets obtained in exchange for lease liabilities, net of modifications and terminations
        		                            
          items arising from the ipo, follow-on offerings and other llc interest ownership changes:
        		                            
          other - see note 14
        		                            
          other - see note 10
        		                            
          purchase of furniture, equipment, software and leasehold improvements
        		                   -4,184,000 -4,359,000 -5,006,000 -2,102,000 -3,084,000 -1,298,000 -7,214,000 -3,793,000  
          capital distributions to non-controlling interests
        		                   -1,969,000 -2,504,000 -8,309,000 -4,838,000    -11,909,000  
          contingent consideration
        		                            
          vesting of p-1 (c) shares
        		                            
          effect of exchange rate changes on cash and cash equivalents
        		                     4,044,000 2,546,000 -68,000 -3,958,000 4,024,000 -138,000 866,000 
          net increase in cash and cash equivalents
        		                     113,928,000 117,463,000      
          cash and cash equivalents and restricted cash
        		                            
          income taxes paid
        		                     2,071,000 12,064,000 2,103,000 2,867,000 13,555,000 24,989,000  
          items arising from the reorganization transactions, ipo, follow-on offering and other llc interest ownership changes:
        		                            
          vesting of contingent consideration
        		                            
          conversion of certain cash-settled prsus to equity-settled prsus
        		                            
          payroll taxes paid for stock-based compensation exercises
        		                      -180,000 -47,672,000 -23,991,000    
          items arising from llc interest ownership changes
        		                            
          offering costs from follow-on offering
        		                        -308,000    
          net decrease in cash and cash equivalents
        		                        -36,354,000  -96,522,000  
          interest paid
        		                            
          business acquisitions
        		                            
          purchase of investments
        		                            
          mezzanine capital contributions
        		                            
          mezzanine capital distributions
        		                            
          proceeds from issuance of class a common stock in the ipo, net of underwriting discounts
        		                         0 1,161,270,000  
          purchase of llc interests in connection with the ipo
        		                            
          proceeds from issuance of class a common stock in the follow-on offering
        		                            
          purchase of llc interests and class a common stock in connection with the follow-on offering
        		                            
          offering costs from ipo and follow-on offering
        		                            
          conversion of convertible term note payable to thomson reuters to class a shares
        		                            
          increase in operating assets:
        		                            
          receivable from brokers and dealers and clearing organizations
        		                          -80,659,000 86,169,000 
          receivable from affiliates
        		                          394,000 217,000 
          payable to brokers and dealers and clearing organizations
        		                          83,949,000  
          payable to affiliates
        		                          1,083,000 950,000 
          offering costs from issuance of class a common stock in the ipo
        		                          -12,306,000  
          items arising from the reorganization transactions and ipo:
        		                            
          share-based compensation expense
        		                           4,674,000 
          (increase) decrease in operating assets:
        		                            
          increase (decrease) in operating liabilities:
        		                            
          capital distributions