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Tradeweb Markets Inc. (TW)
NASDAQ: TW · Real-Time Price · USD
132.74
+1.10 (0.84%)
At close: Nov 13, 2026, 4:00 PM EST
132.76
+0.02 (0.02%)
After-hours: Nov 13, 2026, 7:30 PM EST

Revenue Breakdown

Millions USD. Fiscal year is Jan - Dec.
Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Period Ending
Sep '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
1.70B1.51B1.27B
Variable Subscription Fees Revenue
2.00M1.84M1.76M
Variable Other Fees Revenue
15.65M13.17M2.37M
Total Variable Revenue
1.72B1.52B1.28B
Fixed Transaction Fees and Commissions Revenue
204.03M191.02M148.91M
Fixed Subscription Fees Revenue
241.43M232.18M204.90M
Fixed LSEG Market Data Fees Revenue
102.95M93.20M82.15M
Fixed Other Fees Revenue
11.45M11.62M11.23M
Total Fixed Revenue
559.85M528.02M447.19M
Revenue (Total)
2.28B2.05B1.73B

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
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Dec '20 Dec '19 Dec '18 Dec '17 Dec '16
Institutional Revenue
1.46B1.28B1.04B
Wholesale Revenue
433.57M400.75M385.67M
Retail Revenue
140.59M146.51M143.25M
Corporates Revenue
100.15M95.90M43.23M
Market Data Revenue
144.87M133.72M118.02M
Revenue (Total)
2.28B2.05B1.73B

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
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Dec '20 Dec '19 Dec '18 Dec '17 Dec '16
US Revenue
1.28B1.19B1.06B
International Revenue
997.93M858.37M665.25M
Revenue (Total)
2.28B2.05B1.73B

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
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Dec '20 Dec '19 Dec '18 Dec '17 Dec '16
Rates Cash Volume
151.34T137.04T120.90T
Rates Derivatives Volume
317.43T240.17T197.77T
Total Rates Volume
468.77T377.21T318.67T
Cash Credit Volume
3.63T3.21T2.86T
Credit Derivatives Volume
9.31T6.94T5.61T
Total Credit Volume
12.93T10.15T8.47T
Equities Cash Volume
3.90T3.26T2.79T
Equities Derivatives Volume
3.76T3.47T3.21T
Total Equities Volume
7.66T6.73T6.00T
Money Markets Volume
314.70T293.86T204.01T
Total Volume
804.07T687.95T537.15T