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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net Income $ 111,308 $ 110,083
Adjustments to reconcile net income to net cash used by operating activities:    
Depreciation and amortization 16,076 15,348
Amortization of purchased intangibles and acquired capitalized software 14,687 16,020
Debt issue cost related to debt refinancing and prepayment 0 306
Amortization of debt issuance costs and deferred financing fees 1,720 1,664
Termination of office leases 17 96
Share-based compensation 15,033 15,583
Deferred taxes 5,390 7,800
Other (15,118) (4,030)
Changes in operating assets and liabilities:    
Securities borrowed (60,542) (270,347)
Securities purchased under agreements to resell 1,009,644 (376,365)
Receivables from broker-dealers and clearing organizations (526,927) (66,035)
Trading assets, at fair value 911,479 (807,784)
Receivables from customers (12,435) (28,375)
Operating lease right-of-use assets 16,810 813
Other assets (104,205) 16,955
Securities loaned 311,075 (32,896)
Securities sold under agreements to repurchase (959,561) 379,758
Payables to broker-dealers and clearing organizations (687,156) (15,091)
Payables to customers 10,256 61,001
Trading liabilities, at fair value (376,355) 917,807
Operating lease liabilities (17,834) (1,948)
Accounts payable, accrued expenses and other liabilities (58,776) (88,745)
Net cash used in operating activities (395,414) (148,382)
Cash flows from investing activities    
Development of capitalized software (23,383) (20,638)
Acquisition of property and equipment (2,815) (13,795)
Other investing activities (1,278) (1,350)
Net cash used in investing activities (27,476) (35,783)
Cash flows from financing activities    
Dividends to stockholders and distributions from Virtu Financial to noncontrolling interest (67,589) (52,004)
Repurchase of Class C common stock 0 (424)
Purchase of treasury stock (51,823) (93,218)
Short-term borrowings, net 140,000 121,055
Repayment of long-term borrowings 0 (18,000)
Payment of tax receivable agreement obligations (20,226) 0
Debt issuance costs 0 (3,953)
Net cash provided by (used in) financing activities 362 (46,544)
Effect of exchange rate changes on cash and cash equivalents (3,526) 1,648
Net increase (decrease) in cash and cash equivalents (426,054) (229,061)
Cash, cash equivalents, and restricted or segregated cash, beginning of period 855,460 1,038,242
Cash, cash equivalents, and restricted or segregated cash, end of period 429,406 809,181
Supplementary disclosure of cash flow information    
Cash paid for interest 142,200 96,572
Cash paid for taxes 6,609 3,471
Non-cash investing activities    
Share-based and accrued incentive compensation to developers relating to capitalized software $ 4,101 $ 4,732