Segment and Geographic Information

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment and Geographic Information

16. 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’s operations constitute a single business segment because of the highly integrated nature of these products 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 years ended December 31, 2020, 2019 and 2018, 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 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 three years ended December 31, 2020, 2019 and 2018 and long-lived assets as of December 31, 2020 and 2019 were as follows:

	Year Ended December 31,
	2020		2019		2018
	(In thousands)
Revenues
Americas	$	583,164	$	427,276	$	369,324
Europe		89,751		74,511		59,943
Asia		16,210		9,565		6,298
Total	$	689,125	$	511,352	$	435,565

	As of December 31,
	2020		2019
	(In thousands)
Long-lived assets, as defined
Americas	$	68,707	$	62,376
Europe		16,491		9,410
Asia		6		9
Total	$	85,204	$	71,795