Divestitures |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Discontinued Operations and Disposal Groups [Abstract] | |
| Divestitures | Divestitures In the fourth quarter of 2025, the Company sold kACE, a leading provider of real-time pricing and advanced analytics platforms for complex FX derivatives, to smartTrade. smartTrade acquired kACE for up to $119.0 million, subject to limited post-closing adjustments. This included initial consideration of $80.0 million, with up to an additional $39.0 million in contingent cash consideration. The up to $39.0 million in contingent cash consideration was excluded from the initial gain on the divestiture and will be recognized in income if and when it is realized and earned. During the three and six months ended June 30, 2026, the Company recognized a $20.0 million gain from contingent consideration that was realized and earned in connection with the sale of kACE, which is included in “Gains (losses) on divestitures and sales of investments” in the Company’s unaudited Condensed Consolidated Statements of Operations. The Company had no gains or losses from divestitures or sales of investments during the six months ended June 30, 2025.
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