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Tradeweb Markets Inc. (TW)
NASDAQ: TW · Real-Time Price · USD
97.86
+0.74 (0.76%)
At close: Jul 10, 2026, 4:00 PM EDT
97.75
-0.11 (-0.11%)
After-hours: Jul 10, 2026, 5:41 PM EDT

Revenue Breakdown

Millions USD. Fiscal year is Jan - Dec.
Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Period Ending
Mar '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Dec '20 Dec '19 Dec '18 Dec '17 Dec '16
Variable Transaction Fees and Commissions Revenue
1.60B1.51B1.27B
Variable Transaction Fees and Commissions Revenue Growth
6.25%18.42%37.02%
Variable Subscription Fees Revenue
1.88M1.84M1.76M
Variable Subscription Fees Revenue Growth
2.18%4.26%-5.01%
Variable Other Fees Revenue
16.47M13.17M2.37M
Variable Other Fees Revenue Growth
25.07%456.64%112.77%
Total Variable Revenue
1.62B1.52B1.28B
Total Variable Revenue Growth
6.41%19.21%37.03%
Fixed Transaction Fees and Commissions Revenue
199.17M191.02M148.91M
Fixed Transaction Fees and Commissions Revenue Growth
4.26%28.28%0.55%
Fixed Subscription Fees Revenue
236.64M232.18M204.90M
Fixed Subscription Fees Revenue Growth
1.92%13.31%12.51%
Fixed LSEG Market Data Fees Revenue
91.01M93.20M82.15M
Fixed LSEG Market Data Fees Revenue Growth
-2.34%13.45%27.68%
Fixed Other Fees Revenue
11.60M11.62M11.23M
Fixed Other Fees Revenue Growth
-0.15%3.44%7.43%
Total Fixed Revenue
538.42M528.02M447.19M
Total Fixed Revenue Growth
1.97%18.08%10.42%
Revenue (Total)
2.16B2.05B1.73B
Revenue (Total) Growth
5.27%18.92%28.97%

Revenue Breakdown 2

Millions USD. Fiscal year is Jan - Dec.
Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Period Ending
Mar '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Dec '20 Dec '19 Dec '18 Dec '17 Dec '16
Institutional Revenue
1.37B1.28B1.04B
Institutional Revenue Growth
7.59%23.15%29.95%
Wholesale Revenue
414.05M400.75M385.67M
Wholesale Revenue Growth
3.32%3.91%23.38%
Retail Revenue
144.05M146.51M143.25M
Retail Revenue Growth
-1.68%2.28%6.49%
Corporates Revenue
98.07M95.90M43.23M
Corporates Revenue Growth
2.27%121.81%-
Market Data Revenue
131.94M133.72M118.02M
Market Data Revenue Growth
-1.33%13.31%25.45%
Revenue (Total)
2.16B2.05B1.73B
Revenue (Total) Growth
5.27%18.92%28.97%

Revenue by Geography

Millions USD. Fiscal year is Jan - Dec.
Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Period Ending
Mar '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Dec '20 Dec '19 Dec '18 Dec '17 Dec '16
US Revenue
1.24B1.19B1.06B
US Revenue Growth
3.83%12.57%24.74%
International Revenue
920.68M858.37M665.25M
International Revenue Growth
7.26%29.03%36.35%
Revenue (Other)
7.00K3.00K-2.00K
Revenue (Total)
2.16B2.05B1.73B
Revenue (Total) Growth
5.27%18.92%28.97%

Key Performance Indicators

Millions USD. Fiscal year is Jan - Dec.
Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Period Ending
Mar '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Dec '20 Dec '19 Dec '18 Dec '17 Dec '16
Rates Cash Volume
143.87T137.04T120.90T
Rates Cash Volume Growth
4.98%13.35%31.76%
Rates Derivatives Volume
272.74T240.17T197.77T
Rates Derivatives Volume Growth
13.56%21.44%48.61%
Total Rates Volume
416.60T377.21T318.68T
Total Rates Volume Growth
10.44%18.37%41.74%
Cash Credit Volume
3.35T3.21T2.86T
Cash Credit Volume Growth
4.31%12.31%28.36%
Credit Derivatives Volume
8.06T6.94T5.61T
Credit Derivatives Volume Growth
16.07%23.64%28.05%
Total Credit Volume
11.40T10.15T8.47T
Total Credit Volume Growth
12.35%19.82%28.15%
Equities Cash Volume
3.56T3.26T2.79T
Equities Cash Volume Growth
9.26%16.98%8.63%
Equities Derivatives Volume
3.56T3.47T3.21T
Equities Derivatives Volume Growth
2.55%8.19%26.84%
Total Equities Volume
7.12T6.73T6.00T
Total Equities Volume Growth
5.80%12.28%17.67%
Money Markets Volume
302.57T293.86T204.01T
Money Markets Volume Growth
2.96%44.04%63.69%
Total Volume
737.70T687.95T537.15T
Total Volume Growth
7.23%28.07%48.72%