Related Party Transactions (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Balances From Transactions with Affiliates Included in the Consolidated Statements

As of March 31, 2025 and December 31, 2024, the following balances with such affiliates were included in the condensed consolidated statements of financial condition in the following line items:


	March 31,		December 31,
	2025		2024

	(dollars in thousands)
Accounts receivable	$	10	$	786
Receivable and due from affiliates	1,100		8,094
Other assets	565		7
Accounts payable, accrued expenses and other liabilities	1,870		1,469
Deferred revenue	6,440		6,459
Payable and due to affiliates	574		763

The following balances with such affiliates were included in the condensed consolidated statements of income in the following line items:


	Three Months Ended
	March 31,
	2025		2024

	(dollars in thousands)
Revenue:
Subscription fees	$	326	$	304
LSEG market data fees (1)	28,925		20,500
Other fees	147		205
Expenses: (2)


Technology and communications	2,140		1,572
General and administrative	2		3
Professional fees	76		26
Occupancy	23		13

(1)The Company maintains a market data license agreement with an affiliate of LSEG. Under the agreement, the Company delivers to LSEG certain market data feeds which LSEG distributes to its customers. The Company earns license fees and royalties for these feeds.

(2)The Company maintains agreements with LSEG to provide the Company with certain market data, office space, finance, human resources and other administrative services.