XML 54 R30.htm IDEA: XBRL DOCUMENT v3.22.4
Business Segment and Geographic Information
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Business Segment and Geographic Information Business Segment and Geographic Information
The Company operates electronic marketplaces for the trading of products across the rates, credit, equities and money markets asset classes and provides related pre-trade and post-trade services. The Company’s operations constitute a single business segment because of the integrated nature of these marketplaces and services.  
Information regarding revenue by client sector is as follows:
Year Ended
December 31,
202220212020
(in thousands)
Revenues
Institutional$719,211 $668,812 $554,330 
Wholesale273,189 254,927 185,456 
Retail110,468 70,566 76,352 
Market Data85,913 82,142 76,521 
Total revenue1,188,781 1,076,447 892,659 
Operating expenses
776,208 717,619 629,304 
Operating income
$412,573 $358,828 $263,355 
The Company operates in the U.S. and internationally, primarily in the Europe and Asia regions. Revenues are attributed to geographic area based on the jurisdiction where the underlying transactions take place. The results by geographic region are not meaningful in understanding the Company’s business. Long-lived assets are attributed to the geographic area based on the location of the particular subsidiary.
The following table provides revenue by geographic area:
Year Ended
December 31,
202220212020
(in thousands)
Revenues
U.S.$760,642 $673,223 $570,064 
International428,139 403,224 322,595 
Total revenue$1,188,781 $1,076,447 $892,659 
The following table provides information on the attribution of long-lived assets by geographic area:
December 31,
20222021
(in thousands)
Long-lived assets
U.S.$4,044,230 $4,152,186 
International13,026 15,848 
Total$4,057,256 $4,168,034