Segment and Geographic Information

9 Months Ended

Sep. 30, 2017

13. Segment and Geographic Information

The Company operates an electronic multi-party platform 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 product and services, of the financial markets in which the Company competes and of 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 three and nine months ended September 30, 2017 and 2016, 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 of the Company. 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. Information regarding revenue for the three and nine months ended September 30, 2017 and 2016 and long-lived assets as of September 30, 2017 and December 31, 2016 was as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
	(In thousands)
Revenues
United States	$	82,076	$	77,571	$	252,485	$	235,078
United Kingdom		14,250		12,433		44,277		39,165
Other		375		267		1,144		1,240
Total	$	96,701	$	90,271	$	297,906	$	275,483

	As of
	September 30, 2017		December 31, 2016
	(In thousands)
Long-lived assets, as defined
United States	$	25,602	$	23,370
United Kingdom		9,700		7,713
Other		19		21
Total	$	35,321	$	31,104