v3.26.1
Related Party Transactions - Schedule of Affiliates were Included in the Consolidated Statements of Income (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenue:        
Total revenue $ 558,946 $ 512,971 $ 1,176,710 $ 1,022,648
Expenses        
Employee compensation and benefits 172,462 169,693 370,255 346,570
Technology and communications 41,976 30,212 81,525 58,940
Professional fees 12,765 14,159 25,089 26,617
Occupancy 8,378 6,022 16,570 11,096
Other income (loss), net $ 7,278 12,665 $ 6,122 16,886
iAltaA Capital Markets, LLC        
Expenses        
Equity method investment percentage 50.00%   50.00%  
MAXEX, LLC        
Expenses        
Equity method investment percentage 9.00%   9.00%  
Affiliated Entity        
Expenses        
Employee compensation and benefits $ (13) 0 $ (60) 0
Technology and communications 7,124 1,884 14,131 4,024
General and administrative 0 3 0 5
Professional fees 0 205 0 281
Occupancy 19 16 39 39
Other income (loss), net $ (482) 0 $ (911) 0
Affiliated Entity | iAltaA Capital Markets, LLC        
Expenses        
Equity method investment percentage 50.00%   50.00%  
Subscription fees        
Revenue:        
Total revenue $ 61,724 57,392 $ 121,997 113,169
Subscription fees | Affiliated Entity        
Revenue:        
Total revenue 364 239 656 565
LSEG market data fees        
Revenue:        
Total revenue 26,496 20,569 53,238 49,494
LSEG market data fees | Affiliated Entity        
Revenue:        
Total revenue 26,496 20,569 53,238 49,494
Other fees        
Revenue:        
Total revenue 5,391 5,242 12,307 8,873
Other fees | Affiliated Entity        
Revenue:        
Total revenue $ 255 $ 156 $ 381 $ 303