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v3.24.2

Revenue (Tables) | 6 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Breakdown of Revenues Between Fixed and Variable Revenues | The breakdown of revenues between fixed and variable revenues for the three and six months ended June 30, 2024 and 2023 is as follows:
|  | Three Months Ended |  | Three Months Ended
|  | June 30, 2024 |  | June 30, 2023
|  | (dollars in thousands) |  | (dollars in thousands)
|  | Variable |  | Fixed |  | Variable |  | Fixed
Revenues |  |  |  |  |  |  |  |
Transaction fees and commissions |  | $ | 294,003 |  |  | $ | 36,472 |  |  | $ | 209,634 |  |  | $ | 36,827 |
Subscription fees |  | 465 |  |  | 50,281 |  |  | 470 |  |  | 45,278 |
LSEG market data fees |  | — |  |  | 20,581 |  |  | — |  |  | 15,461 |
Other |  | 382 |  |  | 2,767 |  |  | 264 |  |  | 2,679 |
Total revenue |  | $ | 294,850 |  |  | $ | 110,101 |  |  | $ | 210,368 |  |  | $ | 100,245 |
|  | Six Months Ended |  | Six Months Ended
|  | June 30, 2024 |  | June 30, 2023
|  | (dollars in thousands) |  | (dollars in thousands)
|  | Variable |  | Fixed |  | Variable |  | Fixed
Revenues |  |  |  |  |  |  |  |
Transaction fees and commissions |  | $ | 592,265 |  |  | $ | 73,661 |  |  | $ | 439,815 |  |  | $ | 73,244 |
Subscription fees |  | 935 |  |  | 99,492 |  |  | 930 |  |  | 89,192 |
LSEG market data fees |  | — |  |  | 41,081 |  |  | — |  |  | 31,055 |
Other |  | 744 |  |  | 5,512 |  |  | 466 |  |  | 5,160 |
Total revenue |  | $ | 593,944 |  |  | $ | 219,746 |  |  | $ | 441,211 |  |  | $ | 198,651 |
Schedule of Recognized Revenue and Remaining Deferred Revenue Balance | The revenue recognized and the remaining deferred revenue balances are shown below:
|  | Amount
|  | (dollars in thousands)
Deferred revenue balance - December 31, 2023 |  | $ | 25,746 |
New billings |  | 81,074 |
Revenue recognized |  | (78,882) |
Deferred revenue acquired in connection with the r8fin Acquisition |  | 219 |
Effect of foreign currency exchange rate changes |  | 17 |
Deferred revenue balance - June 30, 2024 |  | $ | 28,174 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
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