Tradeweb Markets Inc. revenue by segment TW

Annual Quarterly

Tradeweb Markets Inc. splits its revenue into 4 lines in its filings. The largest line in Q3 of fiscal 2026, the quarter ended Sep 30, 2026 was Transaction Fee Revenue at $491.8 million, 84% of the total.

USD in millions. The percent under a figure is the change from the same quarter a year earlier.

Line	TTM Sep 30, 2026	Q3 FY2026 Sep 30, 2026	Q2 FY2026 Jun 30, 2026	Q1 FY2026 Mar 31, 2026	Q4 FY2025 Dec 31, 2025	Q3 FY2025 Sep 30, 2025	Q2 FY2025 Jun 30, 2025	Q1 FY2025 Mar 31, 2025	Q4 FY2024 Dec 31, 2024
Revenue	2,282	585	559	618	521	509	513	510	463
Transaction Fee Revenue	1,909 +15.2% share 83.6%	492 +16.7% share 84.1%	465 +8.3% share 83.3%	524 +24.3% share 84.8%	428 +11.4% share 82.1%	421 share 82.8%	430 share 83.8%	421 share 82.7%	384 share 82.9%
Subscription Fee Revenue	243 +6.3% share 10.7%	61 +1.0% share 10.5%	62 +7.5% share 11.0%	60 +8.1% share 9.8%	60 +9.1% share 11.5%	61 share 12.0%	57 share 11.2%	56 share 10.9%	55 share 11.9%
Market Data Revenue	103 +13.7% share 4.5%	27 +29.2% share 4.5%	26 +28.8% share 4.7%	27 -7.5% share 4.3%	23 +12.7% share 4.4%	21 share 4.0%	21 share 4.0%	29 share 5.7%	21 share 4.4%
Financial Service Other	27 +47.0% share 1.2%	5 -19.0% share 0.8%	5 +2.8% share 1.0%	7 +90.5% share 1.1%	10 +174.6% share 1.9%	6 share 1.2%	5 share 1.0%	4 share 0.7%	4 share 0.8%

How these figures are calculated

Quarterly columns are single-quarter amounts. When a 10-Q reports only a year-to-date total, as cash flow statements do, the quarter is that total minus the previous quarter's year-to-date total. The fourth quarter is the annual report's full year minus the first nine months. A column marked YTD is a year-to-date total, shown when the earlier report needed for the single quarter is missing. USD in millions. Each group is a separate split of total revenue, so the groups are not added together. Share of revenue is that line divided by total revenue. The first column adds the latest year-to-date segment amount to the last fiscal year and subtracts the year-ago year-to-date amount. More on our methodology.

Company profile

Industry: Security & Commodity Brokers, Dealers, Exchanges & Services (SIC 6200)
Listed as: TW (Nasdaq)
Fiscal year ends: December 31
Incorporated in: DE
Headquarters: New York, NY
SEC filer status: Large accelerated filer
SEC CIK: 1758730

Other Security & Commodity Brokers, Dealers, Exchanges & Services companies

All 18 Security & Commodity Brokers, Dealers, Exchanges & Services companies

Source: SEC EDGAR filings. This is company-reported data, not investment advice.