Revenue (Tables)

3 Months Ended

Mar. 31, 2021

Revenue from Contract with Customer [Abstract]

Breakdown of revenues between fixed and variable revenues

The breakdown of revenues between fixed and variable revenues for the three months ended March 31, 2021 and 2020 is as follows:

	Three Months Ended				Three Months Ended
	March 31, 2021				March 31, 2020
	(in thousands)				(in thousands)
	Variable		Fixed		Variable		Fixed
Revenues
Transaction fees and commissions	$	179,667	$	38,149	$	147,778	$	35,539
Subscription Fees including Refinitiv market data fees	462		52,523		465		48,646
Other	213		2,385		110		2,068
Total revenue	$	180,342	$	93,057	$	148,353	$	86,253

Schedule of recognized revenue and remaining deferred revenue balance

The recognized revenue and remaining balance is shown below (in thousands):

	Amount
Deferred revenue balance - December 31, 2020	$	23,193
New billings	30,762
Revenue recognized	(26,769)
Deferred revenue balance - March 31, 2021	$	27,186