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Share-based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands |  |  | 3 Months Ended | 12 Months Ended | 23 Months Ended
--- | --- | --- | --- | --- | ---
Apr. 21, 2015 | Jul. 08, 2011 | Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2017
Share-based Compensation. |  |  |  |  |  |  |
Number of Class A-2 capital interests contributed by Class A-2 members to Virtu East MIP LLC |  | 2,625,000 |  |  |  |  |
Non-voting common interest units outstanding |  |  | 13,502,263 |  | 14,231,535 |  | 13,502,263
Class A |  |  |  |  |  |  |
Share-based Compensation. |  |  |  |  |  |  |
Expense recognized |  |  |  | $ 3,400 |  |  |
Class A-2 profits interests and Class B interests | East MIP |  |  |  |  |  |  |
Weighted-average assumptions used in estimating grant date fair values |  |  |  |  |  |  |
Expected life (in years) |  |  | 2 years 8 months 12 days | 6 months |  |  |
Weighted average risk free interest rate (as a percent) |  |  | 0.72% | 0.12% |  |  |
Expected stock price volatility (as a percent) |  |  | 47.00% | 25.00% |  |  |
Class A-2 profits interests | Maximum |  |  |  |  |  |  |
Share-based Compensation. |  |  |  |  |  |  |
Vesting period |  |  | 4 years | 4 years |  |  |
Class B interests | East MIP |  |  |  |  |  |  |
Share-based Compensation. |  |  |  |  |  |  |
Amortization expense related to share based compensation |  |  | $ 20 | $ 300 |  |  |
Class B interests | East MIP | Time based vesting |  |  |  |  |  |  |
Share-based Compensation. |  |  |  |  |  |  |
Vesting period |  | 4 years |  |  |  |  |
Non-voting common interest units (formerly Class B interests) |  |  |  |  |  |  |
Share-based Compensation. |  |  |  |  |  |  |
Expense recognized |  |  | 200 | 300 |  |  |
Unrecognized share-based compensation expense |  |  | $ 600 |  | $ 800 |  | $ 600
Weighted average period for compensation expense expected to be recognized |  |  | 9 months 18 days |  | 1 year |  |
Capitalized software development costs |  |  | $ 10 | 100 |  |  |
Non-voting common interest units (formerly Class A 2 profits interests) |  |  |  |  |  |  |
Share-based Compensation. |  |  |  |  |  |  |
Expense recognized |  |  | 200 | $ 400 |  |  |
Unrecognized share-based compensation expense |  |  | $ 500 |  | $ 800 |  | $ 500
Weighted average period for compensation expense expected to be recognized |  |  | 7 months 6 days |  | 9 months 18 days |  |
Non-qualified stock options |  |  |  |  |  |  |
Share-based Compensation. |  |  |  |  |  |  |
Expense recognized |  |  | $ 1,400 |  |  |  |
Forfeited or repurchased (in shares) |  |  | 195,000 | 625,000 |  |  |
Outstanding (in shares) |  |  | 8,234,000 | 8,994,000 | 8,994,000 |  |
Forfeited or expired (in shares) |  |  | (195,000) | (625,000) |  |  |
Outstanding (in shares) |  |  | 8,039,000 | 8,369,000 | 8,234,000 | 8,994,000 | 8,039,000
Weighted Average Exercise Price Per Share |  |  |  |  |  |  |
Outstanding (in dollars per share) |  |  | $ 19.00 | $ 19.00 | $ 19.00 |  |
Outstanding (in dollars per share) |  |  | $ 19.00 | $ 19.00 | $ 19.00 | $ 19.00 | $ 19.00
Weighted-average assumptions used in estimating grant date fair values |  |  |  |  |  |  |
Expected life (in years) |  |  | 6 years 3 months |  |  |  |
Weighted average risk free interest rate (as a percent) |  |  | 1.52% |  |  |  |
Expected stock price volatility (as a percent) |  |  | 30.00% |  |  |  |
Expected dividend yield (as a percent) |  |  | 5.05% |  |  |  |
Weighted Average Fair Value |  |  |  |  |  |  |
Outstanding (in dollars per share) |  |  | $ 3.02 |  |  |  | $ 3.02
Weighted Average Remaining Life, outstanding |  |  |  |  |  |  |
Weighted Average Remaining Life |  |  | 8 years 18 days | 9 years 18 days | 8 years 3 months 15 days | 9 years 3 months 15 days |
Options Exercisable, Number of Options (in shares) |  |  | 2,009,750 |  | 2,058,500 |  | 2,009,750
Options Exercisable, Weighted Average Exercise Price (in dollars per share) |  |  | $ 19.00 |  | $ 19.00 |  | $ 19.00
Non-qualified stock options | 2015 Management Incentive Plan |  |  |  |  |  |  |
Share-based Compensation. |  |  |  |  |  |  |
Vesting period | 4 years |  |  |  |  |  |
Expiration period | 10 years |  |  |  |  |  |
Unrecognized share-based compensation expense |  |  |  |  | $ 14,200 |  |
Weighted average period for compensation expense expected to be recognized |  |  | 2 years |  |  |  |
Restricted stock units |  |  |  |  |  |  |
Share-based Compensation. |  |  |  |  |  |  |
Expense recognized |  |  |  | $ 1,600 |  |  |
Unrecognized share-based compensation expense |  |  | $ 23,900 | $ 28,500 |  |  | $ 23,900
Weighted average period for compensation expense expected to be recognized |  |  | 2 years 3 months 18 days | 2 years 7 months 6 days |  |  |
Activity |  |  |  |  |  |  |
Outstanding (in shares) |  |  | 1,573,441 | 984,466 | 984,466 |  |
Forfeited (in shares) |  |  | (95,481) | (115,869) |  |  |
Outstanding (in shares) |  |  | 1,477,960 | 868,597 | 1,573,441 | 984,466 | 1,477,960
Weighted Average Fair Value |  |  |  |  |  |  |
Outstanding (in dollars per share) |  |  | $ 18.28 | $ 22.32 | $ 22.32 |  |
Forfeited (in dollars per share) |  |  | 18.38 | 22.51 |  |  |
Outstanding (in dollars per share) |  |  | $ 18.28 | $ 22.30 | $ 18.28 | $ 22.32 | $ 18.28
Restricted stock units | 2015 Management Incentive Plan |  |  |  |  |  |  |
Share-based Compensation. |  |  |  |  |  |  |
Vesting period |  |  |  |  |  |  | 4 years

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- Definition The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2)(iii) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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