Tradeweb Markets Inc. (TW) Revenue by Segment
Tradeweb Markets revenue by segment at a glance
In Q2 fiscal 2026 (the quarter ended June 30, 2026), Tradeweb Markets's largest product or service was Transaction Fee Revenue, with $465.34 million or 83% of revenue, up 8.3% from a year earlier. Next: Subscription Fee Revenue (11%), Market Data Revenue (5%) and Financial Service, Other (1%).
By region, United States brought in 56% and Non-US brought in 44% of revenue in Q2 fiscal 2026.
By country, UNITED STATES brought in 56% and Non-US brought in 44% of revenue in Q2 fiscal 2026.
The fastest-growing product or service from a year earlier was Transaction Fee Revenue (+8.3%).
From company filings, in USD; latest quarter ended June 30, 2026; quarterly data from Q1 fiscal 2019.
Tradeweb Markets Inc.
Revenue breakdown
Fiscal quarters, from company filings
Tradeweb Markets revenue by product or service, last 4 quarters
| Product or service | Q2 FY26 | Q1 FY26 | Q3 FY25 | Q2 FY25 | Share |
|---|---|---|---|---|---|
| Transaction Fee Revenue | $465.3M | $523.8M | $421.3M | $429.8M | 83% |
| Subscription Fee Revenue | $61.7M | $60.3M | $60.8M | $57.4M | 11% |
| Market Data Revenue | $26.5M | $26.7M | $20.5M | $20.6M | 5% |
| Financial Service, Other | $5.4M | $6.9M | $5.9M | $5.2M | 1% |
In USD, fiscal quarters as reported; share = part of Q2 FY26 revenue.
Tradeweb Markets revenue by region, last 4 quarters
| Region | Q2 FY26 | Q1 FY26 | Q3 FY25 | Q2 FY25 | Share |
|---|---|---|---|---|---|
| United States | $313.9M | $343.7M | $297.4M | $297.8M | 56% |
| Non-US | $245.1M | $274.1M | $211.2M | $215.2M | 44% |
In USD, fiscal quarters as reported; share = part of Q2 FY26 revenue.
Tradeweb Markets revenue by country, last 4 quarters
| Country | Q2 FY26 | Q1 FY26 | Q3 FY25 | Q2 FY25 | Share |
|---|---|---|---|---|---|
| UNITED STATES | $313.9M | $343.7M | $297.4M | $297.8M | 56% |
| Non-US | $245.1M | $274.1M | $211.2M | $215.2M | 44% |
In USD, fiscal quarters as reported; share = part of Q2 FY26 revenue.
Questions and answers
Which product or service makes the most money for Tradeweb Markets?
Transaction Fee Revenue: $465.34 million, or 83% of revenue, in Q2 fiscal 2026.
What are Tradeweb Markets's main products and services?
By revenue in Q2 fiscal 2026: Transaction Fee Revenue (83%), Subscription Fee Revenue (11%), Market Data Revenue (5%) and Financial Service, Other (1%).
Where does Tradeweb Markets make its money?
By region in Q2 fiscal 2026: United States (56%) and Non-US (44%).
