Segment and Geographic Information

9 Months Ended

Sep. 30, 2018

12. Segment and Geographic Information

The Company operates an electronic 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, 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, 2018 and 2017, 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, 2018 and 2017 and long-lived assets as of September 30, 2018 and December 31, 2017 was as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
	(In thousands)
Revenues
United States	$	85,110	$	80,999	$	271,833	$	249,538
United Kingdom		15,882		14,210		49,828		44,181
Other		451		375		1,460		1,143
Total	$	101,443	$	95,584	$	323,121	$	294,862

	As of
	September 30, 2018		December 31, 2017
	(In thousands)
Long-lived assets, as defined
United States	$	45,734	$	27,990
United Kingdom		8,564		10,532
Other		22		26
Total	$	54,320	$	38,548