<?xml version="1.0" encoding="UTF-8"?>

<!--XBRL Document Created with Wdesk from Workiva-->
<!--Copyright 2022 Workiva-->
<!--r:af447223-512b-4d04-986d-d4f9ff5e4554,g:3372c71c-3f6a-477e-942b-0a484be432cd-->
<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.tradeweb.com/role/CondensedConsolidatedStatementsofFinancialCondition" xlink:type="simple" xlink:href="tw-20220930.xsd#CondensedConsolidatedStatementsofFinancialCondition"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/CondensedConsolidatedStatementsofFinancialCondition" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Liabilities_162f60ea-4f4c-4b75-9038-fb8696f50e8e" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_Liabilities"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_PayablesToBrokerDealersAndClearingOrganizations_3db17860-b0f6-4919-b691-2b6c8ccabdc3" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_PayablesToBrokerDealersAndClearingOrganizations"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_162f60ea-4f4c-4b75-9038-fb8696f50e8e" xlink:to="loc_srt_PayablesToBrokerDealersAndClearingOrganizations_3db17860-b0f6-4919-b691-2b6c8ccabdc3" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent_c454b204-1994-4901-91ea-c245babfd445" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_162f60ea-4f4c-4b75-9038-fb8696f50e8e" xlink:to="loc_us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent_c454b204-1994-4901-91ea-c245babfd445" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ContractWithCustomerLiability_f1138738-0e30-495b-b8d1-0f1671494c1a" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ContractWithCustomerLiability"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_162f60ea-4f4c-4b75-9038-fb8696f50e8e" xlink:to="loc_us-gaap_ContractWithCustomerLiability_f1138738-0e30-495b-b8d1-0f1671494c1a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_ef135333-d92f-46f7-936c-181e457d2c0d" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_162f60ea-4f4c-4b75-9038-fb8696f50e8e" xlink:to="loc_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_ef135333-d92f-46f7-936c-181e457d2c0d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLiability_8136e17e-e8b8-4321-a14b-99f3138a49f9" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OperatingLeaseLiability"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_162f60ea-4f4c-4b75-9038-fb8696f50e8e" xlink:to="loc_us-gaap_OperatingLeaseLiability_8136e17e-e8b8-4321-a14b-99f3138a49f9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_TaxReceivableAgreementLiability_0161632a-a251-46bf-868a-6025f20154a1" xlink:href="tw-20220930.xsd#tw_TaxReceivableAgreementLiability"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_162f60ea-4f4c-4b75-9038-fb8696f50e8e" xlink:to="loc_tw_TaxReceivableAgreementLiability_0161632a-a251-46bf-868a-6025f20154a1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DueToAffiliateCurrentAndNoncurrent_0374bdac-1ca9-4723-a833-665b36bfc995" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DueToAffiliateCurrentAndNoncurrent"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_162f60ea-4f4c-4b75-9038-fb8696f50e8e" xlink:to="loc_us-gaap_DueToAffiliateCurrentAndNoncurrent_0374bdac-1ca9-4723-a833-665b36bfc995" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_f8129d46-5127-466c-b312-735233486e8e" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DeferredIncomeTaxLiabilitiesNet"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_162f60ea-4f4c-4b75-9038-fb8696f50e8e" xlink:to="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_f8129d46-5127-466c-b312-735233486e8e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_52307f62-3b7d-426a-be49-a52ff8e4c5c2" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterest_980eab9a-197c-41f6-b756-91f642a38938" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_MinorityInterest"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_52307f62-3b7d-426a-be49-a52ff8e4c5c2" xlink:to="loc_us-gaap_MinorityInterest_980eab9a-197c-41f6-b756-91f642a38938" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity_07e7f86e-1f57-4fc2-b1ff-925e29c08042" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StockholdersEquity"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_52307f62-3b7d-426a-be49-a52ff8e4c5c2" xlink:to="loc_us-gaap_StockholdersEquity_07e7f86e-1f57-4fc2-b1ff-925e29c08042" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity_d30908b2-dc5d-496e-8131-476e0dbdbb96" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StockholdersEquity"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_2df3f7ba-f8a3-4542-b2c7-c0c7c64e988b" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_d30908b2-dc5d-496e-8131-476e0dbdbb96" xlink:to="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_2df3f7ba-f8a3-4542-b2c7-c0c7c64e988b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit_c0254a50-f681-479b-9e6c-6fe3a168a2ec" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RetainedEarningsAccumulatedDeficit"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_d30908b2-dc5d-496e-8131-476e0dbdbb96" xlink:to="loc_us-gaap_RetainedEarningsAccumulatedDeficit_c0254a50-f681-479b-9e6c-6fe3a168a2ec" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapital_629f1739-b8be-4ff8-b298-b0c32de08280" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AdditionalPaidInCapital"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_d30908b2-dc5d-496e-8131-476e0dbdbb96" xlink:to="loc_us-gaap_AdditionalPaidInCapital_629f1739-b8be-4ff8-b298-b0c32de08280" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockValue_7926b467-93a1-4dd2-9faa-5e527259e16c" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CommonStockValue"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_d30908b2-dc5d-496e-8131-476e0dbdbb96" xlink:to="loc_us-gaap_CommonStockValue_7926b467-93a1-4dd2-9faa-5e527259e16c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockValue_c55dc330-865e-4f8e-b0a3-b53f27211aef" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PreferredStockValue"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_d30908b2-dc5d-496e-8131-476e0dbdbb96" xlink:to="loc_us-gaap_PreferredStockValue_c55dc330-865e-4f8e-b0a3-b53f27211aef" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity_3d481620-1cff-42bd-9bd3-ed314007a785" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LiabilitiesAndStockholdersEquity"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Liabilities_5fe52377-3a15-4ae3-aa8c-384e01909f1f" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_Liabilities"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_3d481620-1cff-42bd-9bd3-ed314007a785" xlink:to="loc_us-gaap_Liabilities_5fe52377-3a15-4ae3-aa8c-384e01909f1f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingencies_ea83cb8a-b427-4cea-9841-c740183935ee" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CommitmentsAndContingencies"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_3d481620-1cff-42bd-9bd3-ed314007a785" xlink:to="loc_us-gaap_CommitmentsAndContingencies_ea83cb8a-b427-4cea-9841-c740183935ee" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_56a1c479-d92b-484c-a4d7-6ced30f9997a" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_3d481620-1cff-42bd-9bd3-ed314007a785" xlink:to="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_56a1c479-d92b-484c-a4d7-6ced30f9997a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Assets_f0847e88-6033-4300-a148-eb2b18812e9d" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_Assets"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_7b9a7e48-101b-41fc-8eaa-ec62e7bc8be7" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_f0847e88-6033-4300-a148-eb2b18812e9d" xlink:to="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_7b9a7e48-101b-41fc-8eaa-ec62e7bc8be7" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedCash_4361d610-9606-4362-86c5-b7a0b3c8744c" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RestrictedCash"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_f0847e88-6033-4300-a148-eb2b18812e9d" xlink:to="loc_us-gaap_RestrictedCash_4361d610-9606-4362-86c5-b7a0b3c8744c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations_57fb1b88-c26a-41af-8096-951320ee47b1" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_f0847e88-6033-4300-a148-eb2b18812e9d" xlink:to="loc_us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations_57fb1b88-c26a-41af-8096-951320ee47b1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities_15094bb7-2a27-45e1-aafb-e1cacbdc06c5" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_f0847e88-6033-4300-a148-eb2b18812e9d" xlink:to="loc_us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities_15094bb7-2a27-45e1-aafb-e1cacbdc06c5" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_AccountReceivableExcludingReceivableFromBrokersAndDealersAndClearingOrganizationsNetOfAllowance_fca87eea-ba63-47b4-8230-c4770624310d" xlink:href="tw-20220930.xsd#tw_AccountReceivableExcludingReceivableFromBrokersAndDealersAndClearingOrganizationsNetOfAllowance"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_f0847e88-6033-4300-a148-eb2b18812e9d" xlink:to="loc_tw_AccountReceivableExcludingReceivableFromBrokersAndDealersAndClearingOrganizationsNetOfAllowance_fca87eea-ba63-47b4-8230-c4770624310d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_86dc4dac-8000-4b87-88d7-5e953a080220" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PropertyPlantAndEquipmentNet"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_f0847e88-6033-4300-a148-eb2b18812e9d" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentNet_86dc4dac-8000-4b87-88d7-5e953a080220" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseRightOfUseAsset_dfb5275e-c325-4572-a557-cf75f7fe132d" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OperatingLeaseRightOfUseAsset"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_f0847e88-6033-4300-a148-eb2b18812e9d" xlink:to="loc_us-gaap_OperatingLeaseRightOfUseAsset_dfb5275e-c325-4572-a557-cf75f7fe132d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CapitalizedComputerSoftwareNet_9e394a8a-e5c8-4a42-a61a-b6af2d9d4b16" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CapitalizedComputerSoftwareNet"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_f0847e88-6033-4300-a148-eb2b18812e9d" xlink:to="loc_us-gaap_CapitalizedComputerSoftwareNet_9e394a8a-e5c8-4a42-a61a-b6af2d9d4b16" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_cfbc03ba-fa1a-4610-812a-7331d84df9f6" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill"/>
    <link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_f0847e88-6033-4300-a148-eb2b18812e9d" xlink:to="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_cfbc03ba-fa1a-4610-812a-7331d84df9f6" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Goodwill_10433434-1259-4af3-9dbf-7a5105c221c8" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_Goodwill"/>
    <link:calculationArc order="10" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_f0847e88-6033-4300-a148-eb2b18812e9d" xlink:to="loc_us-gaap_Goodwill_10433434-1259-4af3-9dbf-7a5105c221c8" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DueFromAffiliates_2f12450c-ae81-49a9-a483-ab5191925435" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DueFromAffiliates"/>
    <link:calculationArc order="11" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_f0847e88-6033-4300-a148-eb2b18812e9d" xlink:to="loc_us-gaap_DueFromAffiliates_2f12450c-ae81-49a9-a483-ab5191925435" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssets_f24b3d7d-6640-4ed3-ade2-db18114306de" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherAssets"/>
    <link:calculationArc order="12" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_f0847e88-6033-4300-a148-eb2b18812e9d" xlink:to="loc_us-gaap_OtherAssets_f24b3d7d-6640-4ed3-ade2-db18114306de" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxAssetsNet_ca101be6-8408-48bc-b6ce-a1397de2d69c" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DeferredIncomeTaxAssetsNet"/>
    <link:calculationArc order="13" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_f0847e88-6033-4300-a148-eb2b18812e9d" xlink:to="loc_us-gaap_DeferredIncomeTaxAssetsNet_ca101be6-8408-48bc-b6ce-a1397de2d69c" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/CondensedConsolidatedStatementsofIncome" xlink:type="simple" xlink:href="tw-20220930.xsd#CondensedConsolidatedStatementsofIncome"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/CondensedConsolidatedStatementsofIncome" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_46b95972-6707-47f5-b95d-40a86adefb9a" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingIncomeLoss_d76b38cb-bd1b-4cb9-adeb-b976b743ad00" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OperatingIncomeLoss"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_46b95972-6707-47f5-b95d-40a86adefb9a" xlink:to="loc_us-gaap_OperatingIncomeLoss_d76b38cb-bd1b-4cb9-adeb-b976b743ad00" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestIncomeExpenseNet_b88ea597-b0e6-4762-b5f8-bb44f3346c23" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_InterestIncomeExpenseNet"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_46b95972-6707-47f5-b95d-40a86adefb9a" xlink:to="loc_us-gaap_InterestIncomeExpenseNet_b88ea597-b0e6-4762-b5f8-bb44f3346c23" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_f12a469e-f12e-40ad-a249-1be5e241440b" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ProfitLoss"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_98475c1e-57a6-4a3b-9efa-28d2f051a91f" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ProfitLoss_f12a469e-f12e-40ad-a249-1be5e241440b" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_98475c1e-57a6-4a3b-9efa-28d2f051a91f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_55c30693-5e10-45e6-8029-cf7e3f246442" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncomeTaxExpenseBenefit"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ProfitLoss_f12a469e-f12e-40ad-a249-1be5e241440b" xlink:to="loc_us-gaap_IncomeTaxExpenseBenefit_55c30693-5e10-45e6-8029-cf7e3f246442" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingIncomeLoss_3edd9df9-eb07-4f52-9f45-956cdeb98eff" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OperatingIncomeLoss"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostsAndExpenses_16d0cda5-c7cf-462a-8c9f-c60c05c5f172" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CostsAndExpenses"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_3edd9df9-eb07-4f52-9f45-956cdeb98eff" xlink:to="loc_us-gaap_CostsAndExpenses_16d0cda5-c7cf-462a-8c9f-c60c05c5f172" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_b181a449-fd60-45f7-977d-1995c64d64bc" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_3edd9df9-eb07-4f52-9f45-956cdeb98eff" xlink:to="loc_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_b181a449-fd60-45f7-977d-1995c64d64bc" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostsAndExpenses_0539f3ac-6ad0-4415-9af1-71d5044929bf" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CostsAndExpenses"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LaborAndRelatedExpense_2c707676-5d5e-4998-823a-fc6e09f0b5ff" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LaborAndRelatedExpense"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_0539f3ac-6ad0-4415-9af1-71d5044929bf" xlink:to="loc_us-gaap_LaborAndRelatedExpense_2c707676-5d5e-4998-823a-fc6e09f0b5ff" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepreciationAndAmortization_7db1df38-5dd0-4cb8-a2c2-5dcc385ced98" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DepreciationAndAmortization"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_0539f3ac-6ad0-4415-9af1-71d5044929bf" xlink:to="loc_us-gaap_DepreciationAndAmortization_7db1df38-5dd0-4cb8-a2c2-5dcc385ced98" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommunicationsAndInformationTechnology_aecbf9bd-1b1a-4aaf-aa8e-c5e1f6369c5e" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CommunicationsAndInformationTechnology"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_0539f3ac-6ad0-4415-9af1-71d5044929bf" xlink:to="loc_us-gaap_CommunicationsAndInformationTechnology_aecbf9bd-1b1a-4aaf-aa8e-c5e1f6369c5e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherGeneralAndAdministrativeExpense_0781eae3-22de-4a7e-aa46-fd7cb54cfe74" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherGeneralAndAdministrativeExpense"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_0539f3ac-6ad0-4415-9af1-71d5044929bf" xlink:to="loc_us-gaap_OtherGeneralAndAdministrativeExpense_0781eae3-22de-4a7e-aa46-fd7cb54cfe74" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfessionalFees_bae426af-37f1-4188-aed0-835ddff986a1" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ProfessionalFees"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_0539f3ac-6ad0-4415-9af1-71d5044929bf" xlink:to="loc_us-gaap_ProfessionalFees_bae426af-37f1-4188-aed0-835ddff986a1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OccupancyNet_dd2df3c9-96bc-4118-a41f-281680b93525" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OccupancyNet"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_0539f3ac-6ad0-4415-9af1-71d5044929bf" xlink:to="loc_us-gaap_OccupancyNet_dd2df3c9-96bc-4118-a41f-281680b93525" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss_98cadb4e-a65e-4e0e-82e1-a2bb76584983" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetIncomeLoss"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_cb339537-cfe7-40e4-8d3f-52710a129a99" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ProfitLoss"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLoss_98cadb4e-a65e-4e0e-82e1-a2bb76584983" xlink:to="loc_us-gaap_ProfitLoss_cb339537-cfe7-40e4-8d3f-52710a129a99" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_6469ef80-ebe3-49d1-9558-8c8132e0c4f4" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLoss_98cadb4e-a65e-4e0e-82e1-a2bb76584983" xlink:to="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_6469ef80-ebe3-49d1-9558-8c8132e0c4f4" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/CondensedConsolidatedStatementsofComprehensiveIncome" xlink:type="simple" xlink:href="tw-20220930.xsd#CondensedConsolidatedStatementsofComprehensiveIncome"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/CondensedConsolidatedStatementsofComprehensiveIncome" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_7b2f4642-171e-43ab-976b-127046ea52d9" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_0d27fc1f-7de2-4d9f-8b8d-7e426f18b21f" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_7b2f4642-171e-43ab-976b-127046ea52d9" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_0d27fc1f-7de2-4d9f-8b8d-7e426f18b21f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_b4188a46-4c5b-4553-ba73-9009910b86f0" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest_86cdf5f7-555f-404e-be24-69b20c1f1566" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_b4188a46-4c5b-4553-ba73-9009910b86f0" xlink:to="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest_86cdf5f7-555f-404e-be24-69b20c1f1566" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_44891c04-2429-4c35-8608-1d73ab67140a" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_b4188a46-4c5b-4553-ba73-9009910b86f0" xlink:to="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_44891c04-2429-4c35-8608-1d73ab67140a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax_393a085c-1e49-4d29-b42c-c56356c3e43b" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ComprehensiveIncomeNetOfTax"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_0e452b76-dadb-48f2-81df-fd14ad8a8d4d" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_393a085c-1e49-4d29-b42c-c56356c3e43b" xlink:to="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_0e452b76-dadb-48f2-81df-fd14ad8a8d4d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest_0c0efdc4-3a1d-4ab1-a8b5-73f25f7bf030" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_393a085c-1e49-4d29-b42c-c56356c3e43b" xlink:to="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest_0c0efdc4-3a1d-4ab1-a8b5-73f25f7bf030" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_31748791-6c4c-47f0-8d00-116178b5ff51" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_393a085c-1e49-4d29-b42c-c56356c3e43b" xlink:to="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_31748791-6c4c-47f0-8d00-116178b5ff51" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_95c98486-f41e-4185-8a08-7c3d0aac19c5" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_538c424c-bb42-4696-8edf-4e3de9a2fb77" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_95c98486-f41e-4185-8a08-7c3d0aac19c5" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_538c424c-bb42-4696-8edf-4e3de9a2fb77" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_f664c120-8ff9-497c-a7e2-6e21db81d176" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ProfitLoss"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_95c98486-f41e-4185-8a08-7c3d0aac19c5" xlink:to="loc_us-gaap_ProfitLoss_f664c120-8ff9-497c-a7e2-6e21db81d176" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/CondensedConsolidatedStatementsofComprehensiveIncome_1" xlink:type="simple" xlink:href="tw-20220930.xsd#CondensedConsolidatedStatementsofComprehensiveIncome_1"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/CondensedConsolidatedStatementsofComprehensiveIncome_1" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax_561a6033-a9d1-4a65-aee3-7e144015888e" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ComprehensiveIncomeNetOfTax"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent_3072f3a1-044d-4f9e-aacf-e0406ac3fafa" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_561a6033-a9d1-4a65-aee3-7e144015888e" xlink:to="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent_3072f3a1-044d-4f9e-aacf-e0406ac3fafa" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss_91de31f9-427b-4d9a-8895-1277e71b6cf0" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetIncomeLoss"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_561a6033-a9d1-4a65-aee3-7e144015888e" xlink:to="loc_us-gaap_NetIncomeLoss_91de31f9-427b-4d9a-8895-1277e71b6cf0" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/CondensedConsolidatedStatementsofCashFlows" xlink:type="simple" xlink:href="tw-20220930.xsd#CondensedConsolidatedStatementsofCashFlows"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/CondensedConsolidatedStatementsofCashFlows" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_cd793a01-477c-484c-9b7b-83b7471d5fe8" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_9705c5c8-7eae-4a70-a821-e4307caf2cd3" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_cd793a01-477c-484c-9b7b-83b7471d5fe8" xlink:to="loc_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_9705c5c8-7eae-4a70-a821-e4307caf2cd3" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForSoftware_96d6b7f2-9b7b-4238-92c3-566105f715cf" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PaymentsForSoftware"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_cd793a01-477c-484c-9b7b-83b7471d5fe8" xlink:to="loc_us-gaap_PaymentsForSoftware_96d6b7f2-9b7b-4238-92c3-566105f715cf" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_48048677-d729-4d69-aa05-65df9174c869" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_cd793a01-477c-484c-9b7b-83b7471d5fe8" xlink:to="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_48048677-d729-4d69-aa05-65df9174c869" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_fb6d6197-8cc8-44af-8084-82d7241e493e" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfOrdinaryDividends_8f519501-30b0-46b4-8141-eb42a637da60" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PaymentsOfOrdinaryDividends"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_fb6d6197-8cc8-44af-8084-82d7241e493e" xlink:to="loc_us-gaap_PaymentsOfOrdinaryDividends_8f519501-30b0-46b4-8141-eb42a637da60" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_f34f3150-6ac4-4f13-8c66-d3c4840e7712" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_fb6d6197-8cc8-44af-8084-82d7241e493e" xlink:to="loc_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_f34f3150-6ac4-4f13-8c66-d3c4840e7712" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromStockOptionsExercised_50258c2c-ddb1-4183-80d6-df9e67397dfe" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ProceedsFromStockOptionsExercised"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_fb6d6197-8cc8-44af-8084-82d7241e493e" xlink:to="loc_us-gaap_ProceedsFromStockOptionsExercised_50258c2c-ddb1-4183-80d6-df9e67397dfe" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_PaymentsOfCapitalDistributionToNoncontrollingInterest_4f4ceb0c-a96b-4007-bc11-b32800803c86" xlink:href="tw-20220930.xsd#tw_PaymentsOfCapitalDistributionToNoncontrollingInterest"/>
    <link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_fb6d6197-8cc8-44af-8084-82d7241e493e" xlink:to="loc_tw_PaymentsOfCapitalDistributionToNoncontrollingInterest_4f4ceb0c-a96b-4007-bc11-b32800803c86" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_PaymentsOnTaxReceivableAgreementLiability_a92e017e-b3b0-4245-9144-93ecc660b618" xlink:href="tw-20220930.xsd#tw_PaymentsOnTaxReceivableAgreementLiability"/>
    <link:calculationArc order="5" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_fb6d6197-8cc8-44af-8084-82d7241e493e" xlink:to="loc_tw_PaymentsOnTaxReceivableAgreementLiability_a92e017e-b3b0-4245-9144-93ecc660b618" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_8064da69-11c3-4e3e-8bd8-c21d6e502d10" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock"/>
    <link:calculationArc order="6" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_fb6d6197-8cc8-44af-8084-82d7241e493e" xlink:to="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_8064da69-11c3-4e3e-8bd8-c21d6e502d10" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_901b7278-54b1-47bd-9beb-5ec8d10ea923" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_95cd9c86-167a-4f20-ad51-a2dae5db7f36" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_901b7278-54b1-47bd-9beb-5ec8d10ea923" xlink:to="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_95cd9c86-167a-4f20-ad51-a2dae5db7f36" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedCash_ab1382ff-9062-40b2-89e7-6a85b8099c61" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RestrictedCash"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_901b7278-54b1-47bd-9beb-5ec8d10ea923" xlink:to="loc_us-gaap_RestrictedCash_ab1382ff-9062-40b2-89e7-6a85b8099c61" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_9a452b1f-10cd-4b5e-9c5e-825bc1401de7" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_f9289dad-f326-4d02-95e0-c34e98607c12" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_9a452b1f-10cd-4b5e-9c5e-825bc1401de7" xlink:to="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_f9289dad-f326-4d02-95e0-c34e98607c12" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_4ab0d100-2f09-473b-af31-3bae3241b8af" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_9a452b1f-10cd-4b5e-9c5e-825bc1401de7" xlink:to="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_4ab0d100-2f09-473b-af31-3bae3241b8af" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_46f0d073-496e-45df-95a5-c06be6b37355" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_9a452b1f-10cd-4b5e-9c5e-825bc1401de7" xlink:to="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_46f0d073-496e-45df-95a5-c06be6b37355" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_99968bfd-da10-40ca-8fac-be0e4895fe84" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_9a452b1f-10cd-4b5e-9c5e-825bc1401de7" xlink:to="loc_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_99968bfd-da10-40ca-8fac-be0e4895fe84" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2ff90052-43bf-4aed-94f4-1b79289149a0" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_13e23080-d2af-4566-bca3-c07cfc8cf1f2" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2ff90052-43bf-4aed-94f4-1b79289149a0" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_13e23080-d2af-4566-bca3-c07cfc8cf1f2" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInBrokerageReceivables_02355a18-8ed2-4cde-90af-d69a5b2aa853" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInBrokerageReceivables"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2ff90052-43bf-4aed-94f4-1b79289149a0" xlink:to="loc_us-gaap_IncreaseDecreaseInBrokerageReceivables_02355a18-8ed2-4cde-90af-d69a5b2aa853" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInDeferredRevenue_e82c4a1e-0dd1-4527-b970-5af4dd6a63f0" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInDeferredRevenue"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2ff90052-43bf-4aed-94f4-1b79289149a0" xlink:to="loc_us-gaap_IncreaseDecreaseInDeferredRevenue_e82c4a1e-0dd1-4527-b970-5af4dd6a63f0" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInDepositOtherAssets_271087b5-5f04-4042-baa4-9024b0d7838a" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInDepositOtherAssets"/>
    <link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2ff90052-43bf-4aed-94f4-1b79289149a0" xlink:to="loc_us-gaap_IncreaseDecreaseInDepositOtherAssets_271087b5-5f04-4042-baa4-9024b0d7838a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_9af83d4b-b75e-4a16-adf0-e96a57ebb6ce" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2ff90052-43bf-4aed-94f4-1b79289149a0" xlink:to="loc_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_9af83d4b-b75e-4a16-adf0-e96a57ebb6ce" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepreciationAndAmortization_f5be0db9-860e-4fff-9032-f8e9c9941e90" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DepreciationAndAmortization"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2ff90052-43bf-4aed-94f4-1b79289149a0" xlink:to="loc_us-gaap_DepreciationAndAmortization_f5be0db9-860e-4fff-9032-f8e9c9941e90" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_170f6e67-1fef-4b8d-b2fd-d0d47be82dc3" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ProfitLoss"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2ff90052-43bf-4aed-94f4-1b79289149a0" xlink:to="loc_us-gaap_ProfitLoss_170f6e67-1fef-4b8d-b2fd-d0d47be82dc3" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_a9e2d97e-6a17-4cfc-8c03-51ea8a8d9a39" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2ff90052-43bf-4aed-94f4-1b79289149a0" xlink:to="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_a9e2d97e-6a17-4cfc-8c03-51ea8a8d9a39" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseDueFromAffiliates_c2b0611b-6f37-4635-a696-6ed85ef5d42e" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseDueFromAffiliates"/>
    <link:calculationArc order="9" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2ff90052-43bf-4aed-94f4-1b79289149a0" xlink:to="loc_us-gaap_IncreaseDecreaseDueFromAffiliates_c2b0611b-6f37-4635-a696-6ed85ef5d42e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_IncreaseDecreaseInEquityCompensationPayable_20be0d46-443f-446b-822c-8387fb5f279e" xlink:href="tw-20220930.xsd#tw_IncreaseDecreaseInEquityCompensationPayable"/>
    <link:calculationArc order="10" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2ff90052-43bf-4aed-94f4-1b79289149a0" xlink:to="loc_tw_IncreaseDecreaseInEquityCompensationPayable_20be0d46-443f-446b-822c-8387fb5f279e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsReceivable_771d4335-b07d-48d6-8b78-143d112f4ae1" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable"/>
    <link:calculationArc order="11" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2ff90052-43bf-4aed-94f4-1b79289149a0" xlink:to="loc_us-gaap_IncreaseDecreaseInAccountsReceivable_771d4335-b07d-48d6-8b78-143d112f4ae1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensation_ef7fd20c-1df4-4f85-9cd4-3e993dd857ff" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ShareBasedCompensation"/>
    <link:calculationArc order="12" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2ff90052-43bf-4aed-94f4-1b79289149a0" xlink:to="loc_us-gaap_ShareBasedCompensation_ef7fd20c-1df4-4f85-9cd4-3e993dd857ff" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_cdc6f6df-c60c-447f-adc5-f7e3e9f08db5" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities"/>
    <link:calculationArc order="13" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2ff90052-43bf-4aed-94f4-1b79289149a0" xlink:to="loc_us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_cdc6f6df-c60c-447f-adc5-f7e3e9f08db5" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/NonControllingInterestsSummaryofOwnershipInterestDetails" xlink:type="simple" xlink:href="tw-20220930.xsd#NonControllingInterestsSummaryofOwnershipInterestDetails"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/NonControllingInterestsSummaryofOwnershipInterestDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_tw_MinorityInterestTotalNumberOfInterests_a92da169-8d5f-4e18-af57-8c8abb7f980b" xlink:href="tw-20220930.xsd#tw_MinorityInterestTotalNumberOfInterests"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_MinorityInterestNumberOfInterestsHeldByNoncontrollingOwners_3d4f65c4-fc36-49c2-9cf8-8558331847f2" xlink:href="tw-20220930.xsd#tw_MinorityInterestNumberOfInterestsHeldByNoncontrollingOwners"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_tw_MinorityInterestTotalNumberOfInterests_a92da169-8d5f-4e18-af57-8c8abb7f980b" xlink:to="loc_tw_MinorityInterestNumberOfInterestsHeldByNoncontrollingOwners_3d4f65c4-fc36-49c2-9cf8-8558331847f2" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_MinorityInterestNumberOfInterestsHeldByParent_1bf1d781-773e-4e24-83d8-1ee80b593bbb" xlink:href="tw-20220930.xsd#tw_MinorityInterestNumberOfInterestsHeldByParent"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_tw_MinorityInterestTotalNumberOfInterests_a92da169-8d5f-4e18-af57-8c8abb7f980b" xlink:to="loc_tw_MinorityInterestNumberOfInterestsHeldByParent_1bf1d781-773e-4e24-83d8-1ee80b593bbb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_MinorityInterestTotalOwnershipPercentage_d25e8500-0034-4f32-97af-3ce712cce920" xlink:href="tw-20220930.xsd#tw_MinorityInterestTotalOwnershipPercentage"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_06c1e98c-2618-4563-93c3-1eaff40fc995" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_tw_MinorityInterestTotalOwnershipPercentage_d25e8500-0034-4f32-97af-3ce712cce920" xlink:to="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_06c1e98c-2618-4563-93c3-1eaff40fc995" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestOwnershipPercentageByParent_18f1e3ac-2a88-40aa-99cf-18f6f1202525" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_MinorityInterestOwnershipPercentageByParent"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_tw_MinorityInterestTotalOwnershipPercentage_d25e8500-0034-4f32-97af-3ce712cce920" xlink:to="loc_us-gaap_MinorityInterestOwnershipPercentageByParent_18f1e3ac-2a88-40aa-99cf-18f6f1202525" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/NonControllingInterestsSummaryofEquityChangesDuetoChangesinCorporationOwnershipDetails" xlink:type="simple" xlink:href="tw-20220930.xsd#NonControllingInterestsSummaryofEquityChangesDuetoChangesinCorporationOwnershipDetails"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/NonControllingInterestsSummaryofEquityChangesDuetoChangesinCorporationOwnershipDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_tw_NetIncomeAttributableToParentAndTransfersToFromNoncontrollingInterest_e99b90e3-52b4-4e12-b0a0-2069384a2348" xlink:href="tw-20220930.xsd#tw_NetIncomeAttributableToParentAndTransfersToFromNoncontrollingInterest"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss_3e9aacbf-195d-4946-bd77-eaff60bc00ca" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetIncomeLoss"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_tw_NetIncomeAttributableToParentAndTransfersToFromNoncontrollingInterest_e99b90e3-52b4-4e12-b0a0-2069384a2348" xlink:to="loc_us-gaap_NetIncomeLoss_3e9aacbf-195d-4946-bd77-eaff60bc00ca" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_TransfersFromToNoncontrollingInterests_00666859-7ccb-4e9c-91bd-0fc05d370468" xlink:href="tw-20220930.xsd#tw_TransfersFromToNoncontrollingInterests"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_tw_NetIncomeAttributableToParentAndTransfersToFromNoncontrollingInterest_e99b90e3-52b4-4e12-b0a0-2069384a2348" xlink:to="loc_tw_TransfersFromToNoncontrollingInterests_00666859-7ccb-4e9c-91bd-0fc05d370468" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_TransfersFromToNoncontrollingInterests_73def27c-f661-4ad0-b1c7-4c04f31688d9" xlink:href="tw-20220930.xsd#tw_TransfersFromToNoncontrollingInterests"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestDecreaseFromRedemptions_7add92a7-60b0-4e72-ac9f-ab28a346b30f" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_MinorityInterestDecreaseFromRedemptions"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_tw_TransfersFromToNoncontrollingInterests_73def27c-f661-4ad0-b1c7-4c04f31688d9" xlink:to="loc_us-gaap_MinorityInterestDecreaseFromRedemptions_7add92a7-60b0-4e72-ac9f-ab28a346b30f" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/NonControllingInterestsSummaryofEquityChangesDuetoChangesinCorporationOwnershipDetails_1" xlink:type="simple" xlink:href="tw-20220930.xsd#NonControllingInterestsSummaryofEquityChangesDuetoChangesinCorporationOwnershipDetails_1"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/NonControllingInterestsSummaryofEquityChangesDuetoChangesinCorporationOwnershipDetails_1" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_tw_TransfersFromToNoncontrollingInterests_e79a657c-2d1a-4ab6-a2c0-bd063fb3406d" xlink:href="tw-20220930.xsd#tw_TransfersFromToNoncontrollingInterests"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_bc0b375f-6ab2-4a5b-ac22-0926e7a89afa" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_tw_TransfersFromToNoncontrollingInterests_e79a657c-2d1a-4ab6-a2c0-bd063fb3406d" xlink:to="loc_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_bc0b375f-6ab2-4a5b-ac22-0926e7a89afa" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/FairValueofFinancialInstrumentsFinancialInstrumentsMeasuredatFairValueDetails" xlink:type="simple" xlink:href="tw-20220930.xsd#FairValueofFinancialInstrumentsFinancialInstrumentsMeasuredatFairValueDetails"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/FairValueofFinancialInstrumentsFinancialInstrumentsMeasuredatFairValueDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsFairValueDisclosure_5f7ccf18-bbea-496e-97f3-45c3a33b1302" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AssetsFairValueDisclosure"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DueFromAffiliates_58bc1e52-f252-4b2a-9240-fa454f0d31cf" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DueFromAffiliates"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsFairValueDisclosure_5f7ccf18-bbea-496e-97f3-45c3a33b1302" xlink:to="loc_us-gaap_DueFromAffiliates_58bc1e52-f252-4b2a-9240-fa454f0d31cf" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure_3cf93da4-4c03-4148-a079-0d56aa3a1529" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CashAndCashEquivalentsFairValueDisclosure"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsFairValueDisclosure_5f7ccf18-bbea-496e-97f3-45c3a33b1302" xlink:to="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure_3cf93da4-4c03-4148-a079-0d56aa3a1529" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/FairValueofFinancialInstrumentsFinancialInstrumentsNotMeasuredatFairValueDetails" xlink:type="simple" xlink:href="tw-20220930.xsd#FairValueofFinancialInstrumentsFinancialInstrumentsNotMeasuredatFairValueDetails"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/FairValueofFinancialInstrumentsFinancialInstrumentsNotMeasuredatFairValueDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Assets_85e122b1-5120-4aaf-8a6d-df0c4a308511" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_Assets"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_RestrictedCashAndCashEquivalentsFairValueDisclosure_74737319-73b5-4cd9-b702-4d07f921c99a" xlink:href="tw-20220930.xsd#tw_RestrictedCashAndCashEquivalentsFairValueDisclosure"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_85e122b1-5120-4aaf-8a6d-df0c4a308511" xlink:to="loc_tw_RestrictedCashAndCashEquivalentsFairValueDisclosure_74737319-73b5-4cd9-b702-4d07f921c99a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReceivablesFromClearingOrganizations_3f95b8a4-9555-416b-b4d8-4eb39c901e2b" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ReceivablesFromClearingOrganizations"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_85e122b1-5120-4aaf-8a6d-df0c4a308511" xlink:to="loc_us-gaap_ReceivablesFromClearingOrganizations_3f95b8a4-9555-416b-b4d8-4eb39c901e2b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities_5a2b5afc-ef7b-4353-ac5c-4fb6c8ee67cd" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_85e122b1-5120-4aaf-8a6d-df0c4a308511" xlink:to="loc_us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities_5a2b5afc-ef7b-4353-ac5c-4fb6c8ee67cd" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_AccountReceivableExcludingReceivableFromBrokersAndDealersAndClearingOrganizationsNetOfAllowance_d1845c14-c291-4bbc-99ca-781411029ce9" xlink:href="tw-20220930.xsd#tw_AccountReceivableExcludingReceivableFromBrokersAndDealersAndClearingOrganizationsNetOfAllowance"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_85e122b1-5120-4aaf-8a6d-df0c4a308511" xlink:to="loc_tw_AccountReceivableExcludingReceivableFromBrokersAndDealersAndClearingOrganizationsNetOfAllowance_d1845c14-c291-4bbc-99ca-781411029ce9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations_31306fb8-7919-43f3-9b5c-a706e118bd6f" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_85e122b1-5120-4aaf-8a6d-df0c4a308511" xlink:to="loc_us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations_31306fb8-7919-43f3-9b5c-a706e118bd6f" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/CommitmentsandContingenciesMaturityofLeaseLiabilitiesandFutureMinimumLeasePaymentsDetails" xlink:type="simple" xlink:href="tw-20220930.xsd#CommitmentsandContingenciesMaturityofLeaseLiabilitiesandFutureMinimumLeasePaymentsDetails"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/CommitmentsandContingenciesMaturityofLeaseLiabilitiesandFutureMinimumLeasePaymentsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_18f4a53d-1dee-4545-85e2-32d8630b7727" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_f43e00d6-bc67-4054-bc2a-397f0c70ae30" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_18f4a53d-1dee-4545-85e2-32d8630b7727" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_f43e00d6-bc67-4054-bc2a-397f0c70ae30" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_4a8a7162-f0d7-41ef-8c35-9e7191f02b89" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_18f4a53d-1dee-4545-85e2-32d8630b7727" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_4a8a7162-f0d7-41ef-8c35-9e7191f02b89" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_63d73b51-2fcf-47d8-9916-0a7efccb7c33" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_18f4a53d-1dee-4545-85e2-32d8630b7727" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_63d73b51-2fcf-47d8-9916-0a7efccb7c33" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_LesseeOperatingLeaseLiabilityToBePaidAfterYearFour_a1a372da-d7b0-4281-b4d8-f1d6355289a1" xlink:href="tw-20220930.xsd#tw_LesseeOperatingLeaseLiabilityToBePaidAfterYearFour"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_18f4a53d-1dee-4545-85e2-32d8630b7727" xlink:to="loc_tw_LesseeOperatingLeaseLiabilityToBePaidAfterYearFour_a1a372da-d7b0-4281-b4d8-f1d6355289a1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_bc813dba-30d6-4ae1-b19f-e85756c68a09" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_18f4a53d-1dee-4545-85e2-32d8630b7727" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_bc813dba-30d6-4ae1-b19f-e85756c68a09" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_8601ba13-ad5e-4269-a044-ee4a4553a79b" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_18f4a53d-1dee-4545-85e2-32d8630b7727" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_8601ba13-ad5e-4269-a044-ee4a4553a79b" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/CommitmentsandContingenciesMaturityofLeaseLiabilitiesandFutureMinimumLeasePaymentsDetails_1" xlink:type="simple" xlink:href="tw-20220930.xsd#CommitmentsandContingenciesMaturityofLeaseLiabilitiesandFutureMinimumLeasePaymentsDetails_1"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/CommitmentsandContingenciesMaturityofLeaseLiabilitiesandFutureMinimumLeasePaymentsDetails_1" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_b83c197f-498b-4ea8-8588-f76f68345ad8" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLiability_5d19d7e1-7bca-44ae-832f-9da0b457e551" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OperatingLeaseLiability"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_b83c197f-498b-4ea8-8588-f76f68345ad8" xlink:to="loc_us-gaap_OperatingLeaseLiability_5d19d7e1-7bca-44ae-832f-9da0b457e551" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_ae50248f-0b51-416f-9fda-2568f7a7a8de" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_b83c197f-498b-4ea8-8588-f76f68345ad8" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_ae50248f-0b51-416f-9fda-2568f7a7a8de" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/EarningsPerShareBasicandDilutedEarningsPerShareDetails" xlink:type="simple" xlink:href="tw-20220930.xsd#EarningsPerShareBasicandDilutedEarningsPerShareDetails"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/EarningsPerShareBasicandDilutedEarningsPerShareDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_02287d2a-432b-4061-9db9-86fc7414c46e" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_8afd1cf5-074b-4835-9c63-3ed32fd57ae6" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_02287d2a-432b-4061-9db9-86fc7414c46e" xlink:to="loc_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_8afd1cf5-074b-4835-9c63-3ed32fd57ae6" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_8adefb79-5013-4544-808a-e9f2d439964d" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_02287d2a-432b-4061-9db9-86fc7414c46e" xlink:to="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_8adefb79-5013-4544-808a-e9f2d439964d" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/RegulatoryCapitalRequirementsDetails" xlink:type="simple" xlink:href="tw-20220930.xsd#RegulatoryCapitalRequirementsDetails"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/RegulatoryCapitalRequirementsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_tw_RegulatoryCapital_889d0968-0733-4085-9526-ec2e73101f4b" xlink:href="tw-20220930.xsd#tw_RegulatoryCapital"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_ExcessRegulatoryCapital_546be02c-3761-4189-bc6c-5edb5708ffac" xlink:href="tw-20220930.xsd#tw_ExcessRegulatoryCapital"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_tw_RegulatoryCapital_889d0968-0733-4085-9526-ec2e73101f4b" xlink:to="loc_tw_ExcessRegulatoryCapital_546be02c-3761-4189-bc6c-5edb5708ffac" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_RegulatoryCapitalRequirement_0fa1adf8-c0b7-49aa-9b12-58d50bf96b8f" xlink:href="tw-20220930.xsd#tw_RegulatoryCapitalRequirement"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_tw_RegulatoryCapital_889d0968-0733-4085-9526-ec2e73101f4b" xlink:to="loc_tw_RegulatoryCapitalRequirement_0fa1adf8-c0b7-49aa-9b12-58d50bf96b8f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_LiquidFinancialAssets_952a6780-47f9-4116-bb6c-9c67091b3f67" xlink:href="tw-20220930.xsd#tw_LiquidFinancialAssets"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_RequiredLiquidFinancialAssets_4d3065c0-fc7c-47a1-a28a-cbbfcb88d3cf" xlink:href="tw-20220930.xsd#tw_RequiredLiquidFinancialAssets"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_tw_LiquidFinancialAssets_952a6780-47f9-4116-bb6c-9c67091b3f67" xlink:to="loc_tw_RequiredLiquidFinancialAssets_4d3065c0-fc7c-47a1-a28a-cbbfcb88d3cf" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_ExcessLiquidFinancialAssets_247fcdd0-c9d3-4859-80e3-1705fad474d4" xlink:href="tw-20220930.xsd#tw_ExcessLiquidFinancialAssets"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_tw_LiquidFinancialAssets_952a6780-47f9-4116-bb6c-9c67091b3f67" xlink:to="loc_tw_ExcessLiquidFinancialAssets_247fcdd0-c9d3-4859-80e3-1705fad474d4" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_NetCapitalUnderCommodityExchangeActComputation_017e719a-08eb-44c2-acab-ec6ea48c11f0" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_NetCapitalUnderCommodityExchangeActComputation"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RequiredNetCapitalUnderCommodityExchangeAct1_ae42503c-7107-4908-9e61-d5fa89731afc" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_RequiredNetCapitalUnderCommodityExchangeAct1"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_srt_NetCapitalUnderCommodityExchangeActComputation_017e719a-08eb-44c2-acab-ec6ea48c11f0" xlink:to="loc_srt_RequiredNetCapitalUnderCommodityExchangeAct1_ae42503c-7107-4908-9e61-d5fa89731afc" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_NetCapitalExcessShortageUnderCommodityExchangeAct_7433d4a8-c730-4f24-865b-b034c81a026e" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_NetCapitalExcessShortageUnderCommodityExchangeAct"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_srt_NetCapitalUnderCommodityExchangeActComputation_017e719a-08eb-44c2-acab-ec6ea48c11f0" xlink:to="loc_srt_NetCapitalExcessShortageUnderCommodityExchangeAct_7433d4a8-c730-4f24-865b-b034c81a026e" xlink:type="arc"/>
  </link:calculationLink>
</link:linkbase>
