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REVENUE
 6 Months Ended 12 Months Ended
Jun. 30, 2021
Dec. 31, 2020
Revenue from Contract with Customer [Abstract]    
REVENUES REVENUES
Disaggregation of revenues
The following table presents our revenue disaggregated by revenue source:
Three Months Ended
June 30,		Six Months Ended
June 30,
(in thousands)2020202120202021
Transaction-based revenues:
Options$111,148$164,604$170,908$362,464
Cryptocurrencies5,320233,1039,558320,690
Equities70,60652,012102,195185,313
Other3391,4483833,139
Total transaction-based revenues187,413451,167283,044871,606
Net interest revenues:
Securities lending28,63339,44835,13875,074
Margin interest10,95831,23018,78758,961
Interest on segregated cash and securities1,43693110,6322,041
Other interest revenue5261,3682,5162,197
Interest expenses related to credit facilities(1,555)(5,268)(3,059)(8,067)
Total net interest revenues39,99867,70964,014130,206
Other revenues16,80046,45724,70385,695
Total net revenues$244,211$565,333$371,761$1,087,507
Receivables and Contract Balances
Receivables are recognized when we have an unconditional right to invoice and receive payment under a contract with a customer and are derecognized when cash is received. Receivables primarily consist of transaction-based revenue receivables due from market makers and are reported in receivables from brokers, dealers and clearing organizations and other revenue receivables due from our partnership with a third-party investor communications company and are reported in other current assets on the unaudited condensed consolidated balance sheets.
The table below sets forth contract receivables balances for the period indicated:
(in thousands)Receivables
Beginning of period, January 1, 2021$111,871 
End of period, June 30, 2021147,168 
Increase in receivables during the period$35,297 
The difference between the opening and ending balance of our receivables primarily results from the growth of our business over the period and timing differences between our performance and counterparties’ payments.
Contract liabilities consist of unearned subscription revenue which are recognized when users remit contractual cash payments in advance of us satisfying our performance obligations under the contract and are recorded as other current liabilities on the unaudited condensed consolidated balance sheets.
The table below sets forth contract liabilities balances for the period indicated:
(in thousands)Contract Liabilities
Beginning of period, January 1, 2021$2,060 
End of period, June 30, 20213,605 
Increase in contract liabilities during the period$1,545 
We recognized all revenue from amounts included in the opening contract liability balances in the six months ended June 30, 2021. The difference between the opening and ending balance of our contract liability balances primarily results from the increase in subscription users and the timing difference between our performance and payments from the users. 		REVENUES
Disaggregation of revenues
The following table presents our revenue disaggregated by revenue source:
Year Ended December 31,
(in thousands)20192020
Transaction-based revenues:
Options$110,656$440,070
Equities50,688251,200
Cryptocurrencies9,48726,708
Other—2,155
Total transaction-based revenues170,831720,133
Net interest revenues:
Securities lending6,38098,165
Margin interest19,10466,781
Interest on segregated cash and securities36,28113,401
Other interest revenue9,8653,972
Interest expenses related to credit facilities(991)(4,882)
Total net interest revenues70,639177,437
Other revenues36,06361,263
Total net revenues$277,533$958,833
Receivables and Contract Balances
Receivables are recognized when we have an unconditional right to invoice and receive payment under a contract with a customer and are derecognized when cash is received. Receivables primarily consist of transaction-based revenue receivables due from market makers and are reported in Receivables from brokers, dealers and clearing organizations on the consolidated balance sheets.
The table below sets forth receivables balances for the periods indicated:
December 31,
(in thousands)20192020
Receivables, beginning of the period$9,056 $20,577 
Receivables, end of the period20,577 111,871 
Increase in receivables during the period$11,521 $91,294 
The difference between the opening and ending balance of our receivables primarily results from the growth of our business over the period as timing of payments from counterparties remained consistent.
Contract liabilities consist of unearned subscription revenue which are recognized when users remit contractual cash payments in advance of us satisfying our performance obligations under the contract and are recorded as other current liabilities on the consolidated balance sheets.
The table below sets forth contract liabilities balances for the periods indicated:
December 31,
(in thousands)20192020
Contract liabilities, beginning of the period$1,727 $954 
Contract liabilities, end of the period954 2,060 
Increase/(decrease) in contract liabilities during the period$(773)$1,106 
We recognized all revenue from amounts included in the opening contract liability balances in the years ended December 31, 2019 and 2020. The difference between the opening and ending balance of our contract liability balances primarily results from the increase in subscription users and/or the timing difference between our performance and payments from the users.