Tradeweb Markets Inc. (TW)

Revenue Breakdown

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
Variable Transaction Fees and Commissions Revenue	1.64B	1.51B	1.27B
Variable Subscription Fees Revenue	1.94M	1.84M	1.76M
Variable Other Fees Revenue	16.63M	13.17M	2.37M
Total Variable Revenue	1.66B	1.52B	1.28B
Fixed Transaction Fees and Commissions Revenue	200.66M	191.02M	148.91M
Fixed Subscription Fees Revenue	240.91M	232.18M	204.90M
Fixed LSEG Market Data Fees Revenue	96.94M	93.20M	82.15M
Fixed Other Fees Revenue	11.59M	11.62M	11.23M
Total Fixed Revenue	550.10M	528.02M	447.19M
Revenue (Total)	2.21B	2.05B	1.73B

Revenue Breakdown 2

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
Institutional Revenue	1.41B	1.28B	1.04B
Wholesale Revenue	422.42M	400.75M	385.67M
Retail Revenue	139.53M	146.51M	143.25M
Corporates Revenue	99.91M	95.90M	43.23M
Market Data Revenue	138.82M	133.72M	118.02M
Revenue (Total)	2.21B	2.05B	1.73B

Revenue by Geography

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
US Revenue	1.26B	1.19B	1.06B
International Revenue	950.59M	858.37M	665.25M
Revenue (Total)	2.21B	2.05B	1.73B

Key Performance Indicators

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
Rates Cash Volume	146.92T	137.04T	120.90T
Rates Derivatives Volume	290.20T	240.17T	197.77T
Total Rates Volume	437.12T	377.21T	318.67T
Cash Credit Volume	3.48T	3.21T	2.86T
Credit Derivatives Volume	8.24T	6.94T	5.61T
Total Credit Volume	11.71T	10.15T	8.47T
Equities Cash Volume	3.71T	3.26T	2.79T
Equities Derivatives Volume	3.71T	3.47T	3.21T
Total Equities Volume	7.42T	6.73T	6.00T
Money Markets Volume	310.32T	293.86T	204.01T
Total Volume	766.57T	687.95T	537.15T

Data Source: Fiscal.ai Last updated: Jul 30, 2026

Financial data is provided by Fiscal.ai and updates within minutes after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 20, 2026

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