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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities    
Net income $ 631,662 $ 358,448
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 46,951 48,640
Amortization of purchased intangibles and acquired capitalized software 35,349 38,688
Debt issue cost related to debt refinancing and prepayment 0 22,563
Amortization of debt issuance costs and deferred financing fees 5,160 5,203
Termination of office leases (6,489) 50
Share-based compensation 71,341 50,941
Deferred taxes 18,778 16,590
Gain on sale of RFQ-hub (66,988) 0
Other (8,973) (41,574)
Changes in operating assets and liabilities:    
Securities borrowed (804,137) (579,250)
Securities purchased under agreements to resell (282,165) 803,341
Receivables from broker-dealers and clearing organizations (1,532,797) (456,607)
Trading assets, at fair value (3,139,619) 172,584
Receivables from customers (42,659) (63,320)
Operating lease right-of-use assets 30,196 39,238
Other assets (306,953) (12,968)
Securities loaned 541,645 779,718
Securities sold under agreements to repurchase 4,889 (750,183)
Payables to broker-dealers and clearing organizations 760,535 (547,821)
Payables to customers 32,832 74,545
Trading liabilities, at fair value 3,965,479 263,819
Operating lease liabilities (35,732) (42,064)
Accounts payable, accrued expenses and other liabilities 90,697 26,928
Net cash provided by (used in) operating activities 9,002 207,509
Cash flows from investing activities    
Development of capitalized software (35,145) (34,507)
Acquisition of property and equipment (18,945) (12,608)
Proceeds from sale of RFQ-hub 37,932 0
Other investing activities (21,625) (8,544)
Net cash provided by (used in) investing activities (37,783) (55,659)
Cash flows from financing activities    
Dividends to stockholders and distributions from Virtu Financial to noncontrolling interest (326,688) (247,889)
Repurchase of Class C common stock (1,566) 0
Purchase of treasury stock (188,325) (132,942)
Stock options exercised 15,461 9,178
Short-term borrowings, net 86,459 129,574
Proceeds from long-term borrowings 1,545,000 1,741,888
Repayment of long-term borrowings (1,245,000) (1,727,000)
Proceeds from interest rate swaps 0 1,955
Payment of tax receivable agreement obligations (20,773) (20,226)
Debt issuance costs (8,930) (27,365)
Net cash provided by (used in) financing activities (144,362) (272,827)
Effect of exchange rate changes on cash and cash equivalents 14,564 3,745
Net increase (decrease) in cash and cash equivalents (158,579) (117,232)
Cash, cash equivalents, and restricted or segregated cash, beginning of period 913,991 855,460
Cash, cash equivalents, and restricted or segregated cash, end of period 755,412 738,228
Supplementary disclosure of cash flow information    
Cash paid for interest 472,179 426,757
Cash paid for taxes 90,258 32,576
Non-cash investing activities    
Share-based and accrued incentive compensation to developers relating to capitalized software 14,595 14,931
Non-cash financing activities    
Repurchase of Class C common stock (1,018) 0
Purchase of treasury stock $ (411) $ (52)