XML 73 R27.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Regulatory Capital Requirements | 12 Months Ended
--- | ---
Dec. 31, 2019
Regulatory Capital Requirements |
Regulatory Capital Requirements | 19. Regulatory Capital Requirements TWL, DW and TWD are subject to the Uniform Net Capital Rule 15c3‑1 under the Securities Exchange Act of 1934. TEL is subject to certain financial resource requirements with the FCA in the UK, TWJ is subject to certain financial resource requirements with the FCA in Japan and TWEU is subject to certain finance resource requirements with the AFM in the Netherlands. At December 31, 2019 and 2018, the regulatory capital requirements and regulatory capital for TWL, DW, TWD, TEL, TWJ and TWEU are as follows (in thousands):
As of December 31, 2019 |  | TWL |  | DW |  | TWD |  | TEL |  | TWJ |  | TWEU
Regulatory Capital |  | $ | 42,317 |  | $ | 52,016 |  | $ | 33,807 |  | $ | 49,611 |  | $ | 11,851 |  | $ | 6,217
Regulatory Capital Requirement |  |  | 2,396 |  |  | 2,026 |  |  | 664 |  |  | 21,856 |  |  | 8,565 |  |  | 1,701
Excess Regulatory Capital |  | $ | 39,921 |  | $ | 49,990 |  | $ | 33,143 |  | $ | 27,755 |  | $ | 3,286 |  | $ | 4,516
As of December 31, 2018 |  | TWL |  | DW |  | TWD |  | TEL |  | TWJ
Regulatory Capital |  | $ | 18,986 |  | $ | 41,164 |  | $ | 24,042 |  | $ | 46,157 |  | $ | 10,592
Regulatory Capital Requirement |  |  | 2,698 |  |  | 1,803 |  |  | 599 |  |  | 17,493 |  |  | 3,413
Excess Regulatory Capital |  | $ | 16,288 |  | $ | 39,361 |  | $ | 23,443 |  | $ | 28,664 |  | $ | 7,179
As SEFs, TW SEF and DW SEF are required to maintain adequate financial resources and liquid financial assets in accordance with CFTC regulations. The required and maintained financial resources and liquid financial assets at December 31, 2019 and 2018 are as follows (in thousands):
|  | As of December 31, 2019 |  | As of December 31, 2018
|  | TW SEF |  | DW SEF |  | TW SEF |  | DW SEF
Financial Resources |  | $ | 21,303 |  | $ | 13,707 |  | $ | 31,232 |  | $ | 17,837
Required Financial Resources |  |  | 10,500 |  |  | 5,505 |  |  | 10,500 |  |  | 5,169
Excess Financial Resources |  | $ | 10,803 |  | $ | 8,202 |  | $ | 20,732 |  | $ | 12,668
Liquid Financial Assets |  | $ | 18,168 |  | $ | 7,583 |  | $ | 16,662 |  | $ | 11,888
Required Liquid Financial Assets |  |  | 5,250 |  |  | 2,753 |  |  | 5,250 |  |  | 2,585
Excess Liquid Financial Assets |  | $ | 12,918 |  | $ | 4,830 |  | $ | 11,412 |  | $ | 9,303

X
- References No definition available. + Details
Name: | srt_RegulatoryCapitalRequirementsAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of capital requirements and required financial resources under applicable regulations. + References No definition available. + Details
Name: | tw_RegulatoryCapitalRequirementsTextBlock
Namespace Prefix: | tw_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration