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Customer Concentration
12 Months Ended
Dec. 31, 2016
Risks And Uncertainties [Abstract]  
Customer Concentration

15. Customer Concentration

During the years ended December 31, 2016, 2015 and 2014, no single client accounted for more than 10% of total revenue. One institutional investor client accounted for approximately 14.2%, 15.3% and 14.0% of trading volumes during the years ended December 31, 2016, 2015 and 2014, respectively. As of December 31, 2016, investment funds managed by this institutional investor client beneficially owned approximately 7.6% of the outstanding shares of the Company’s common stock, primarily through passive index and ETF funds.