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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities      
Net income (loss) $ 1,120,913 $ (103,705) $ 620,192
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 66,741 65,644 61,154
Amortization of purchased intangibles and acquired capitalized software 74,254 70,595 26,123
Debt issue cost related to debt refinancing and prepayment 7,555 41,134 10,645
Amortization of debt issuance costs and deferred financing fees 26,148 11,720 10,419
Termination of office leases 9,608 66,452 23,357
Share-based compensation 59,838 71,728 31,934
Deferred taxes 21,601 (18,691) 4,131
Gain on sale of business as described in Notes 4 and 5 (58,652) 0 (335,211)
Other (1,926) (23,446) 7,677
Changes in operating assets and liabilities (1):      
Securities borrowed [1] 503,747 (515,897) 71,488
Securities purchased under agreements to resell [1] 120,166 (127,557) (15,475)
Receivables from broker-dealers and clearing organizations [1] (365,422) 110,977 (111,344)
Trading assets, at fair value [1] (350,041) (125,246) 72,701
Receivables from customers [1] (110,947) 29,733 (18,087)
Operating lease right-of-use assets [1] 39,659 (241,345) 0
Other assets [1] (48,472) 25,133 125,272
Securities loaned [1] (651,843) 452,397 375,352
Securities sold under agreements to repurchase [1] 120,493 58,881 (108,781)
Payables to broker-dealers and clearing organizations [1] (9,323) 107,266 (148,764)
Payables to customers [1] 29,107 (37,560) (28,875)
Trading liabilities, at fair value [1] 425,750 22,552 90,797
Operating lease liabilities [1] (50,024) 265,671 0
Accounts payable, accrued expenses and other liabilities [1] 81,954 (37,665) (50,110)
Net cash provided by operating activities 1,060,884 168,771 714,595
Cash flows from investing activities      
Development of capitalized software (31,471) (48,492) (21,482)
Acquisition of property and equipment (28,888) (9,320) (26,467)
Proceeds from sale of telecommunication assets 0 0 600
Proceeds from sale of investments 7,620 0 0
Proceeds from sale of business as described in Notes 4 and 5 60,592 0 400,192
ITG Acquisition, net of cash acquired, described in Note 3 0 (835,581) 0
Investment in joint ventures (10,412) (6,250) (23,669)
Net cash provided by (used in) investing activities (2,559) (899,643) 329,174
Cash flows from financing activities      
Distribution from Virtu Financial to non-controlling interest (363,919) (99,221) (206,903)
Dividends (120,496) (112,414) (100,329)
Purchase of treasury stock (49,864) (15,878) (66,218)
Stock options exercised 16,440 931 76,754
Short-term borrowings, net (10,514) 39,935 (15,000)
Proceeds from long-term borrowings 0 1,492,500 0
Repayment of long term borrowings (288,500) (500,000) (500,000)
Tax receivable agreement obligations (13,286) 0 (12,359)
Debt issuance costs (9,779) (35,702) (2,261)
Issuance of common stock in connection with secondary offering, net of offering costs 0 (375) (950)
Net cash provided by (used in) financing activities (839,918) 769,580 (835,482)
Effect of exchange rate changes on cash and cash equivalents 15,318 (1,475) (5,127)
Net increase (decrease) in Cash 233,725 37,233 203,160
Cash, beginning of period 773,280 736,047 532,887
Cash, end of period 1,007,005 773,280 736,047
Supplementary disclosure of cash flow information      
Cash paid for interest 173,645 205,433 139,412
Cash paid for taxes 248,532 12,273 93,991
Non-cash investing activities      
Share-based and accrued incentive compensation to developers relating to capitalized software 14,773 2,135 2,936
Non-cash financing activities      
Tax receivable agreement described in Note 7 (1,388) (5,811) (991)
Class C common stock      
Cash flows from financing activities      
Repurchase of Class C common stock $ 0 $ (196) $ (8,216)
[1] Net of ITG Acquisition for the three months ended March 31, 2019; see Note 3