Segment and Geographic Information

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment and Geographic Information

16. 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 years ended December 31, 2022, 2021 and 2020, 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 years ended December 31, 2022, 2021 and 2020 and long-lived assets as of December 31, 2022 and 2021 were as follows:

	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Revenues
Americas	$	581,935	$	568,918	$	583,164
Europe		119,112		110,068		89,751
Asia		17,253		19,965		16,210
Total	$	718,300	$	698,951	$	689,125

	As of December 31,
	2022		2021
	(In thousands)
Long-lived assets, as defined
Americas	$	82,008	$	75,328
Europe		17,723		20,547
Asia		525		186
Total	$	100,256	$	96,061