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Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill by segment

The following table presents the details of goodwill by segment as of December 31, 2020 and December 31, 2019:

(in thousands)						Market Making						Execution Services						Corporate						Total
Balance as of December 31						$	755,292					$	393,634					$	—					$	1,148,926

Schedule of acquired intangible assets

Acquired intangible assets consisted of the following as of December 31, 2020 and December 31, 2019:

						As of December 31, 2020
(in thousands)						Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount						Useful Lives (Years)
Customer relationships						$	486,600					$	(94,299)					$	392,301					10			to			12
Technology						136,000						(82,403)						53,597						1			to			6
Favorable occupancy leases						5,895						(2,839)						3,056						3			to			15
Exchange memberships						3,998						—						3,998						Indefinite
Trade name						3,600						(2,200)						1,400									3
ETF issuer relationships						950						(877)						73									9
ETF buyer relationships						950						(876)						74									9
						$	637,993					$	(183,494)					$	454,499

						As of December 31, 2019
(in thousands)						Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount						Useful Lives (Years)
Customer relationships						$	486,600					$	(46,456)					$	440,144					10			to			12
Technology						136,000						(58,203)						77,797						1			to			6
Purchased technology						110,000						(110,000)						—						1.4			to			2.5
Favorable occupancy leases						5,895						(2,040)						3,855						3			to			15
Exchange memberships						4,882						—						4,882						Indefinite
Trade name						3,600						(1,000)						2,600									3
ETF issuer relationships						950						(770)						180									9
ETF buyer relationships						950						(770)						180									9
						$	748,877					$	(219,239)					$	529,638

Schedule of finite-lived intangible assets, future amortization expense

The Company expects to record amortization expense as follows over the next five years ended December 31:

(in thousands)
2021						$	69,676
2022						64,852
2023						63,960
2024						50,845
2025						47,879

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- References

No definition available.

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- Definition

Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275

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- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

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Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

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