v3.25.2
Revenue from Contract with Customers - Disaggregation of Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Disaggregation of Revenue [Line Items]        
Total revenue from contracts with customers $ 153,859 $ 126,101 $ 305,166 $ 244,712
Total revenue 999,573 692,985 1,837,442 1,335,824
Services transferred at a point in time        
Disaggregation of Revenue [Line Items]        
Total revenue 981,229 675,120 1,801,159 1,300,309
Services transferred over time        
Disaggregation of Revenue [Line Items]        
Total revenue 18,344 17,865 36,283 35,515
Commissions, net        
Disaggregation of Revenue [Line Items]        
Total revenue from contracts with customers 118,881 91,915 233,627 177,327
Workflow technology        
Disaggregation of Revenue [Line Items]        
Total revenue from contracts with customers 25,433 24,194 52,504 48,112
Analytics        
Disaggregation of Revenue [Line Items]        
Total revenue from contracts with customers 9,545 9,992 19,035 19,273
Other sources of revenue        
Disaggregation of Revenue [Line Items]        
Other sources of revenue 845,714 566,884 1,532,276 1,091,112
Operating segments | Market Making        
Disaggregation of Revenue [Line Items]        
Total revenue from contracts with customers 14,414 9,281 31,726 16,483
Total revenue 786,593 569,783 1,477,765 1,090,791
Operating segments | Market Making | Services transferred at a point in time        
Disaggregation of Revenue [Line Items]        
Total revenue 786,593 569,783 1,477,765 1,090,791
Operating segments | Market Making | Services transferred over time        
Disaggregation of Revenue [Line Items]        
Total revenue 0 0 0 0
Operating segments | Market Making | Commissions, net        
Disaggregation of Revenue [Line Items]        
Total revenue from contracts with customers 14,414 9,281 31,726 16,483
Operating segments | Market Making | Workflow technology        
Disaggregation of Revenue [Line Items]        
Total revenue from contracts with customers 0 0 0 0
Operating segments | Market Making | Analytics        
Disaggregation of Revenue [Line Items]        
Total revenue from contracts with customers 0 0 0 0
Operating segments | Market Making | Other sources of revenue        
Disaggregation of Revenue [Line Items]        
Other sources of revenue 772,179 560,502 1,446,039 1,074,308
Operating segments | Execution Services        
Disaggregation of Revenue [Line Items]        
Total revenue from contracts with customers 139,445 116,820 273,440 228,229
Total revenue 214,488 127,059 355,496 244,847
Operating segments | Execution Services | Services transferred at a point in time        
Disaggregation of Revenue [Line Items]        
Total revenue 196,144 109,194 319,213 209,332
Operating segments | Execution Services | Services transferred over time        
Disaggregation of Revenue [Line Items]        
Total revenue 18,344 17,865 36,283 35,515
Operating segments | Execution Services | Commissions, net        
Disaggregation of Revenue [Line Items]        
Total revenue from contracts with customers 104,467 82,634 201,901 160,844
Operating segments | Execution Services | Workflow technology        
Disaggregation of Revenue [Line Items]        
Total revenue from contracts with customers 25,433 24,194 52,504 48,112
Operating segments | Execution Services | Analytics        
Disaggregation of Revenue [Line Items]        
Total revenue from contracts with customers 9,545 9,992 19,035 19,273
Operating segments | Execution Services | Other sources of revenue        
Disaggregation of Revenue [Line Items]        
Other sources of revenue 75,043 10,239 82,056 16,618
Corporate        
Disaggregation of Revenue [Line Items]        
Total revenue from contracts with customers 0 0 0 0
Total revenue (1,508) (3,857) 4,181 186
Corporate | Services transferred at a point in time        
Disaggregation of Revenue [Line Items]        
Total revenue (1,508) (3,857) 4,181 186
Corporate | Services transferred over time        
Disaggregation of Revenue [Line Items]        
Total revenue 0 0 0 0
Corporate | Commissions, net        
Disaggregation of Revenue [Line Items]        
Total revenue from contracts with customers 0 0 0 0
Corporate | Workflow technology        
Disaggregation of Revenue [Line Items]        
Total revenue from contracts with customers 0 0 0 0
Corporate | Analytics        
Disaggregation of Revenue [Line Items]        
Total revenue from contracts with customers 0 0 0 0
Corporate | Other sources of revenue        
Disaggregation of Revenue [Line Items]        
Other sources of revenue $ (1,508) $ (3,857) $ 4,181 $ 186