Segment and Geographic Information

12 Months Ended

Dec. 31, 2023

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, post-trade services and technology 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, 2023, 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 years ended December 31, 2023, 2022 and 2021, and long-lived assets as of December 31, 2023 and 2022 were as follows:

	Year Ended December 31,
	2023		2022		2021
	(In thousands)
Revenues
Americas	$	597,145	$	581,935	$	568,918
Europe		136,989		119,112		110,068
Asia		18,413		17,253		19,965
Total	$	752,547	$	718,300	$	698,951

	As of
	December 31, 2023			December 31, 2022
		(In thousands)
Long-lived assets, as defined
Americas	$		87,513	$	82,008
Europe			14,717		17,723
Asia			441		525
Total	$		102,671	$	100,256