• Tradeweb Markets average operating margin for 2023 was 36.2%, a 4.93% increase from 2022.
• Tradeweb Markets average operating margin for 2022 was 34.5%, a 7.08% increase from 2021.
• Tradeweb Markets average operating margin for 2021 was 32.22%, a 12.58% increase from 2020.

Operating margin can be defined as operating margin measurement of what proportion of a company's revenue is left over after paying for variable costs of production such as wages, raw materials, etc.