Disaggregation of revenue |
The following tables present the Company’s revenue from contracts with customers disaggregated by service, and timing of revenue recognition, reconciled to the Company’s segments, for the years ended December 31, 2023, 2022, and 2021: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2023 | (in thousands) | | Market Making | | Execution Services | | Corporate | | Total | Revenues from contracts with customers: | | | | | | | | | Commissions, net | | $ | 29,571 | | | $ | 297,089 | | | $ | — | | | $ | 326,660 | | | | | | | | | | | Workflow technology | | — | | | 90,654 | | | — | | | 90,654 | | Analytics | | — | | | 38,284 | | | — | | | 38,284 | | Total revenue from contracts with customers | | 29,571 | | | 426,027 | | | — | | | 455,598 | | | | | | | | | | | Other sources of revenue | | 1,813,952 | | | 20,515 | | | 3,308 | | | 1,837,775 | | | | | | | | | | | Total revenues | | $ | 1,843,523 | | | $ | 446,542 | | | $ | 3,308 | | | $ | 2,293,373 | | | | | | | | | | | Timing of revenue recognition: | | | | | | | | | Services transferred at a point in time | | $ | 1,843,523 | | | $ | 374,306 | | | $ | 3,308 | | | $ | 2,221,137 | | Services transferred over time | | — | | | 72,236 | | | — | | | 72,236 | | Total revenues | | $ | 1,843,523 | | | $ | 446,542 | | | $ | 3,308 | | | $ | 2,293,373 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2022 | (in thousands) | | Market Making | | Execution Services | | Corporate | | Total | Revenues from contracts with customers: | | | | | | | | | Commissions, net | | $ | 42,180 | | | $ | 356,090 | | | $ | — | | | $ | 398,270 | | | | | | | | | | | Workflow technology | | — | | | 91,667 | | | — | | | 91,667 | | Analytics | | — | | | 39,908 | | | — | | | 39,908 | | Total revenue from contracts with customers | | 42,180 | | | 487,665 | | | — | | | 529,845 | | | | | | | | | | | Other sources of revenue | | 1,770,659 | | | 26,576 | | | 37,732 | | | 1,834,967 | | | | | | | | | | | Total revenues | | $ | 1,812,839 | | | $ | 514,241 | | | $ | 37,732 | | | $ | 2,364,812 | | | | | | | | | | | Timing of revenue recognition: | | | | | | | | | Services transferred at a point in time | | $ | 1,812,839 | | | $ | 444,483 | | | $ | 37,732 | | | $ | 2,295,054 | | Services transferred over time | | — | | | 69,758 | | | — | | | 69,758 | | Total revenues | | $ | 1,812,839 | | | $ | 514,241 | | | $ | 37,732 | | | $ | 2,364,812 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2021 | (in thousands) | | Market Making | | Execution Services | | Corporate | | Total | Revenues from contracts with customers: | | | | | | | | | Commissions, net | | $ | 40,955 | | | $ | 433,755 | | | $ | — | | | $ | 474,710 | | Workflow technology | | — | | | 98,486 | | | — | | | 98,486 | | Analytics | | — | | | 41,293 | | | | | 41,293 | | Total revenue from contracts with customers | | 40,955 | | | 573,534 | | | — | | | 614,489 | | | | | | | | | | | Other sources of revenue | | 2,162,091 | | | 26,681 | | | 8,224 | | | 2,196,996 | | | | | | | | | | | Total revenues | | $ | 2,203,046 | | | $ | 600,215 | | | $ | 8,224 | | | $ | 2,811,485 | | | | | | | | | | | Timing of revenue recognition: | | | | | | | | | Services transferred at a point in time | | $ | 2,203,046 | | | $ | 525,960 | | | $ | 8,224 | | | $ | 2,737,230 | | Services transferred over time | | — | | | 74,255 | | | — | | | 74,255 | | Total revenues | | $ | 2,203,046 | | | $ | 600,215 | | | $ | 8,224 | | | $ | 2,811,485 | | | | | | | | | | |
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