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Quarterly Results of Operations (Unaudited) - Operating results (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended |
--- | --- | --- | --- | ---
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Sep. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Apr. 08, 2019
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial Designation, Predecessor and Successor [Fixed List] |  |  |  | Successor |  | Successor |  |  |  | Successor | Predecessor | Successor | Successor | Predecessor |
Gross revenue |  |  |  |  |  | $ 178,637 |  |  |  |  | $ 505,771 | $ 775,566 |  | $ 562,968 |
Contingent consideration |  |  |  |  |  |  |  |  |  |  | (26,830) |  |  | (58,520) |
Net revenue |  |  |  |  |  | 178,637 |  |  |  |  | 478,941 | 775,566 |  | 504,448 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Employee compensation and benefits |  |  |  |  |  | 80,436 |  |  |  |  | 209,053 | 329,457 |  | 248,963 |
Depreciation and amortization |  |  |  |  |  | 33,020 |  |  |  |  | 48,808 | 139,330 |  | 68,615 |
Technology and communications |  |  |  |  |  | 9,907 |  |  |  |  | 26,598 | 39,285 |  | 30,013 |
General and administrative |  |  |  |  |  | 11,837 |  |  |  |  | 23,056 | 34,960 |  | 33,973 |
Professional fees |  |  |  |  |  | 8,194 |  |  |  |  | 20,360 | 28,029 |  | 19,351 |
Occupancy |  |  |  |  |  | 3,308 |  |  |  |  | 10,732 | 14,686 |  | 14,441 |
Total expenses |  |  |  |  |  | 146,702 |  |  |  |  | 338,607 | 585,747 |  | 415,356 |
Operating income |  |  |  |  |  | 31,935 |  |  |  |  | 140,334 | 189,819 |  | 89,092 |
Tax receivable agreement liability adjustment | $ 240,817 |  |  |  |  |  |  |  |  | $ 240,817 |  | 240,817 |  |  | $ 171,400
Net interest income |  |  |  |  |  | 787 |  |  |  |  | 1,726 | 2,373 |  | 685 |
Income before taxes |  |  |  |  |  | 32,722 |  |  |  |  | 142,060 | 225,326 |  | 89,777 |
Provision for income taxes |  |  |  |  |  | (3,415) |  |  |  |  | (11,900) | (52,302) |  | (6,129) |
Net income |  |  |  | $ 42,352 | $ 29,307 | $ 29,307 |  |  |  | $ 130,672 | $ 130,160 | 173,024 |  | $ 83,648 |
Net income attributable to non-controlling interests |  |  |  |  |  |  |  |  |  |  |  | 46,903 |  |  |
Net income attributable to Tradeweb Markets Inc. |  |  |  |  |  |  |  |  |  |  |  | $ 83,769 |  |  |
Earnings per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  |  |  |  |  |  |  |  | $ 0.57 |  | $ 0.57 |  |  |
Diluted |  |  |  |  |  |  |  |  |  | $ 0.54 |  | $ 0.54 |  |  |
Weighted average shares outstanding |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  |  |  |  | 222,221,628 |  |  |  | 148,013,274 | 215,365,920 | 148,013,274 |  | 215,568,635 |
Diluted |  |  |  |  |  | 222,243,851 |  |  |  | 156,540,246 | 215,365,920 | 156,540,246 |  | 215,568,635 |
Transaction fees |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross revenue |  |  |  |  |  | $ 97,130 |  |  |  |  | $ 273,751 | $ 423,583 |  | $ 267,020 |
Subscription fees |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross revenue |  |  |  |  |  | 33,052 |  |  |  |  | 107,130 | 138,731 |  | 144,409 |
Commissions |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross revenue |  |  |  |  |  | 32,840 |  |  |  |  | 79,830 | 149,365 |  | 96,745 |
Refinitiv market data fees |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross revenue |  |  |  |  |  | 13,467 |  |  |  |  | 36,851 | 55,635 |  | 50,125 |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross revenue |  |  |  |  |  | $ 2,148 |  |  |  |  | 8,209 | 8,252 |  | 4,669 |
Tradeweb Markets Inc |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial Designation, Predecessor and Successor [Fixed List] | Successor | Successor | Successor |  |  |  |  |  |  |  |  |  |  |  |
Gross revenue | $ 197,308 | $ 200,981 | $ 190,485 |  |  |  |  |  |  |  |  |  |  |  |
Net revenue | 197,308 | 200,981 | 190,485 |  |  |  |  |  |  |  |  |  |  |  |
Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Employee compensation and benefits | 76,545 | 79,644 | 95,995 |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization | 36,402 | 35,133 | 34,292 |  |  |  |  |  |  |  |  |  |  |  |
Technology and communications | 10,199 | 9,527 | 9,519 |  |  |  |  |  |  |  |  |  |  |  |
General and administrative | 8,999 | 7,507 | 9,365 |  |  |  |  |  |  |  |  |  |  |  |
Professional fees | 7,048 | 7,272 | 6,738 |  |  |  |  |  |  |  |  |  |  |  |
Occupancy | 3,786 | 3,640 | 3,621 |  |  |  |  |  |  |  |  |  |  |  |
Total expenses | 142,979 | 142,723 | 159,530 |  |  |  |  |  |  |  |  |  |  |  |
Operating income | 54,329 | 58,258 | 30,955 |  |  |  |  |  |  |  |  |  |  |  |
Tax receivable agreement liability adjustment | 33,134 |  |  |  |  |  |  |  |  | $ 33,134 |  | 33,134 |  |  |
Net interest income | 704 | 636 | 175 |  |  |  |  |  |  |  |  |  |  |  |
Income before taxes | 88,167 | 58,894 | 31,130 |  |  |  |  |  |  |  |  |  |  |  |
Provision for income taxes | (30,889) | (10,316) | (6,314) |  |  |  |  |  |  |  |  |  |  |  |
Net income | 57,278 | 48,578 | 24,816 |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to non-controlling interests | 15,949 | 18,966 | 11,988 |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to Tradeweb Markets Inc. | $ 41,329 | $ 29,612 | $ 12,828 |  |  |  |  |  |  |  |  |  |  |  |
Earnings per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ 0.26 | $ 0.21 | $ 0.09 |  |  |  |  |  |  |  |  |  |  |  |
Diluted | $ 0.25 | $ 0.20 | $ 0.09 |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | 157,950,550 | 142,935,206 | 142,933,192 |  |  |  |  |  |  |  |  |  |  |  |
Diluted | 167,323,520 | 151,362,643 | 150,847,183 |  |  |  |  |  |  |  |  |  |  |  |
Tradeweb Markets Inc | Transaction fees |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross revenue | $ 104,245 | $ 112,746 | $ 103,952 |  |  |  |  |  |  |  |  |  |  |  |
Tradeweb Markets Inc | Subscription fees |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross revenue | 34,333 | 35,387 | 34,566 |  |  |  |  |  |  |  |  |  |  |  |
Tradeweb Markets Inc | Commissions |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross revenue | 41,165 | 37,590 | 36,413 |  |  |  |  |  |  |  |  |  |  |  |
Tradeweb Markets Inc | Refinitiv market data fees |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross revenue | 15,383 | 13,251 | 13,385 |  |  |  |  |  |  |  |  |  |  |  |
Tradeweb Markets Inc | Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross revenue | $ 2,182 | $ 2,007 | $ 2,169 |  |  |  |  |  |  |  |  |  |  |  |
Tradeweb Markets LLC |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial Designation, Predecessor and Successor [Fixed List] |  |  |  | Successor |  | Successor | Predecessor | Predecessor | Predecessor |  |  |  |  |  |
Gross revenue |  |  |  | $ 186,792 |  | $ 178,637 | $ 165,253 | $ 171,015 | $ 169,503 |  |  |  |  |  |
Contingent consideration |  |  |  |  |  |  | 2,537 | (19,297) | (10,070) |  |  |  |  |  |
Net revenue |  |  |  | 186,792 |  | 178,637 | 167,790 | 151,718 | 159,433 |  |  |  |  |  |
Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Employee compensation and benefits |  |  |  | 77,273 |  | 80,436 | 69,076 | 68,407 | 71,570 |  |  |  |  |  |
Depreciation and amortization |  |  |  | 33,503 |  | 33,020 | 16,362 | 16,178 | 16,268 |  |  |  |  |  |
Technology and communications |  |  |  | 10,040 |  | 9,907 | 9,112 | 9,023 | 8,463 |  |  |  |  |  |
General and administrative |  |  |  | 9,089 |  | 11,837 | 9,386 | 7,153 | 6,517 |  |  |  |  |  |
Professional fees |  |  |  | 6,971 |  | 8,194 | 7,546 | 7,276 | 5,538 |  |  |  |  |  |
Occupancy |  |  |  | 3,639 |  | 3,308 | 3,491 | 3,519 | 3,722 |  |  |  |  |  |
Total expenses |  |  |  | 140,515 |  | 146,702 | 114,973 | 111,556 | 112,078 |  |  |  |  |  |
Operating income |  |  |  | 46,277 |  | 31,935 | 52,817 | 40,162 | 47,355 |  |  |  |  |  |
Net interest income |  |  |  | 858 |  | 787 | 673 | 582 | 471 |  |  |  |  |  |
Income before taxes |  |  |  | 47,135 |  | 32,722 | 53,490 | 40,744 | 47,826 |  |  |  |  |  |
Provision for income taxes |  |  |  | (4,783) |  | (3,415) | (7,535) | (1,847) | (2,518) |  |  |  |  |  |
Net income |  |  |  | $ 42,352 |  | 29,307 | $ 45,955 | $ 38,897 | $ 45,308 |  |  |  |  |  |
Net income attributable to Tradeweb Markets Inc. |  |  |  |  |  | $ 29,307 |  |  |  |  | $ 130,160 | $ 42,352 |  | $ 83,648 |
Earnings per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  |  | $ 0.19 |  | $ 0.13 | $ 0.21 | $ 0.18 | $ 0.21 |  | $ 0.60 | $ 0.19 |  | $ 0.39 |
Diluted |  |  |  | $ 0.19 |  | $ 0.13 | $ 0.21 | $ 0.18 | $ 0.21 |  | $ 0.60 | $ 0.19 |  | $ 0.39 |
Weighted average shares outstanding |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  |  | 222,222,197 |  | 222,221,628 | 219,165,997 | 213,435,314 | 213,435,321 |  | 215,365,920 | 222,222,197 |  | 212,568,635 |
Diluted |  |  |  | 223,320,457 |  | 222,243,851 | 219,165,997 | 213,435,314 | 213,435,321 |  | 215,365,920 | 223,320,457 |  | 212,568,635 |
Tradeweb Markets LLC | Transaction fees |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross revenue |  |  |  | $ 102,640 |  | $ 97,130 | $ 92,582 | $ 91,030 | $ 90,139 |  |  |  |  |  |
Tradeweb Markets LLC | Subscription fees |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross revenue |  |  |  | 34,445 |  | 33,052 | 33,157 | 37,647 | 36,326 |  |  |  |  |  |
Tradeweb Markets LLC | Commissions |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross revenue |  |  |  | 34,197 |  | 32,840 | 24,394 | 27,553 | 27,883 |  |  |  |  |  |
Tradeweb Markets LLC | Refinitiv market data fees |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross revenue |  |  |  | 13,616 |  | 13,467 | 12,533 | 12,081 | 12,237 |  |  |  |  |  |
Tradeweb Markets LLC | Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross revenue |  |  |  | $ 1,894 |  | $ 2,148 | $ 2,587 | $ 2,704 | $ 2,918 |  |  |  |  |  |

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