Segment and Geographic Information

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Segment and Geographic Information

15. Segment and Geographic Information

The Company operates electronic platforms for the trading of fixed-income securities and provides related data, analytics, compliance tools and post-trade services. The Company considers its operations to constitute a single business segment because of the highly integrated nature of these products and services, the financial markets in which the Company competes and the Company’s worldwide business activities. The Company believes that results by geographic region or client sector are not necessarily meaningful in understanding its business.

For the nine months ended September 30, 2022 and 2021, the U.K. was the only individual foreign country in which the Company had a subsidiary that accounted for 10% or more of the total revenues or total long-lived assets. Revenues and long-lived assets are attributed to a geographic area based on the location of the particular subsidiary. Long-lived assets are defined as furniture, equipment, leasehold improvements and capitalized software. Revenues for the three and nine months ended September 30, 2022 and 2021 and long-lived assets as of September 30, 2022 and December 31, 2021 were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Revenues
Americas	$	140,020	$	131,306	$	439,939	$	434,664
Europe		28,124		25,991		86,660		83,852
Asia		3,968		4,796		13,799		15,375
Total	$	172,112	$	162,093	$	540,398	$	533,891

	As of
	September 30, 2022		December 31, 2021
	(In thousands)
Long-lived assets, as defined
Americas	$	76,415	$	75,328
Europe		16,696		20,547
Asia		401		186
Total	$	93,512	$	96,061