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Acquisition
9 Months Ended
Sep. 30, 2019
Business Combinations [Abstract]  
Acquisition

14. Acquisition

On August 12, 2019, the Company entered into an agreement to purchase all of the outstanding equity interests of LiquidityEdge LLC (“LiquidityEdge”).  LiquidityEdge operates an electronic platform for trading U.S. Treasuries. The aggregate purchase price is $150.0 million, comprised of $100.0 million in cash and $50.0 million in the Company’s common stock, subject to customary purchase price adjustments. The Company expects to complete the acquisition of LiquidityEdge in the fourth quarter of 2019.