XML 44 R31.htm IDEA: XBRL DOCUMENT v3.24.2
Revenue (Tables)
 6 Months Ended
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 EndedThree Months Ended
June 30, 2024June 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 fees465 50,281 470 45,278 
LSEG market data fees— 20,581 — 15,461 
Other382 2,767 264 2,679 
Total revenue$294,850 $110,101 $210,368 $100,245 
Six Months EndedSix Months Ended
June 30, 2024June 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 fees935 99,492 930 89,192 
LSEG market data fees— 41,081 — 31,055 
Other744 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 billings81,074 
Revenue recognized(78,882)
Deferred revenue acquired in connection with the r8fin Acquisition219 
Effect of foreign currency exchange rate changes17 
Deferred revenue balance - June 30, 2024$28,174