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

<!--XBRL Document Created with Wdesk from Workiva-->
<!--Copyright 2022 Workiva-->
<!--r:8a0c892e-aced-433d-a13e-3dc3a9c8476e,g:196570d5-1f05-41c7-bebd-b6e46fe03c2d-->
<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/ConsolidatedStatementsofFinancialCondition" xlink:type="simple" xlink:href="tw-20211231.xsd#ConsolidatedStatementsofFinancialCondition"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/ConsolidatedStatementsofFinancialCondition" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity_90fa9ceb-2d34-417c-a566-edafdb354e5d" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Liabilities_dfa591cc-4fa5-4eaf-8865-00ab1919e25e" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_90fa9ceb-2d34-417c-a566-edafdb354e5d" xlink:to="loc_us-gaap_Liabilities_dfa591cc-4fa5-4eaf-8865-00ab1919e25e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingencies_b392891c-002a-4b1a-89fd-94d6bd8f64db" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_90fa9ceb-2d34-417c-a566-edafdb354e5d" xlink:to="loc_us-gaap_CommitmentsAndContingencies_b392891c-002a-4b1a-89fd-94d6bd8f64db" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_535457ed-ce19-4d93-a8ba-06e6d536e9a6" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_90fa9ceb-2d34-417c-a566-edafdb354e5d" xlink:to="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_535457ed-ce19-4d93-a8ba-06e6d536e9a6" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_ffb3a7b6-1fd8-4ef6-82cd-01e5cc4c5ba5" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterest_5ff01199-920f-4329-8d73-40d4cf1214a9" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_ffb3a7b6-1fd8-4ef6-82cd-01e5cc4c5ba5" xlink:to="loc_us-gaap_MinorityInterest_5ff01199-920f-4329-8d73-40d4cf1214a9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity_1a85a7f0-2d98-47dc-a727-724ad825b42e" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_ffb3a7b6-1fd8-4ef6-82cd-01e5cc4c5ba5" xlink:to="loc_us-gaap_StockholdersEquity_1a85a7f0-2d98-47dc-a727-724ad825b42e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Assets_2a1e9124-2c0c-4551-bc61-8303c1ef381a" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_Assets"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_854216f3-ff40-434e-a5cc-c4835a4a23da" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_2a1e9124-2c0c-4551-bc61-8303c1ef381a" xlink:to="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_854216f3-ff40-434e-a5cc-c4835a4a23da" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedCash_f2acc108-6076-41c0-bf88-46d3b93c65aa" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_2a1e9124-2c0c-4551-bc61-8303c1ef381a" xlink:to="loc_us-gaap_RestrictedCash_f2acc108-6076-41c0-bf88-46d3b93c65aa" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations_60210dea-97d6-4700-8118-f111448559ba" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_2a1e9124-2c0c-4551-bc61-8303c1ef381a" xlink:to="loc_us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations_60210dea-97d6-4700-8118-f111448559ba" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities_287cbb05-f1a4-4386-9e33-d6a87400b8de" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_2a1e9124-2c0c-4551-bc61-8303c1ef381a" xlink:to="loc_us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities_287cbb05-f1a4-4386-9e33-d6a87400b8de" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_AccountReceivableExcludingReceivableFromBrokersAndDealersAndClearingOrganizationsNetOfAllowance_e77a0458-2fb1-4561-8fe2-3b5f74227ddf" xlink:href="tw-20211231.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_2a1e9124-2c0c-4551-bc61-8303c1ef381a" xlink:to="loc_tw_AccountReceivableExcludingReceivableFromBrokersAndDealersAndClearingOrganizationsNetOfAllowance_e77a0458-2fb1-4561-8fe2-3b5f74227ddf" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_bc4b43bb-54a3-48a2-82ca-5b1dc3032094" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_2a1e9124-2c0c-4551-bc61-8303c1ef381a" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentNet_bc4b43bb-54a3-48a2-82ca-5b1dc3032094" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseRightOfUseAsset_c7acf3c7-f7c8-4a37-997d-920098e679fc" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_2a1e9124-2c0c-4551-bc61-8303c1ef381a" xlink:to="loc_us-gaap_OperatingLeaseRightOfUseAsset_c7acf3c7-f7c8-4a37-997d-920098e679fc" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CapitalizedComputerSoftwareNet_db6a16a6-cf66-4b93-a2a5-753550c4e9e5" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_2a1e9124-2c0c-4551-bc61-8303c1ef381a" xlink:to="loc_us-gaap_CapitalizedComputerSoftwareNet_db6a16a6-cf66-4b93-a2a5-753550c4e9e5" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_151d60ca-3b7d-4d4e-8c32-276544362fd6" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_2a1e9124-2c0c-4551-bc61-8303c1ef381a" xlink:to="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_151d60ca-3b7d-4d4e-8c32-276544362fd6" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Goodwill_b5a11c17-378d-4442-bdd3-a0cb329f18f2" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_2a1e9124-2c0c-4551-bc61-8303c1ef381a" xlink:to="loc_us-gaap_Goodwill_b5a11c17-378d-4442-bdd3-a0cb329f18f2" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DueFromAffiliates_8607fe78-eabb-44cb-a022-3b8e509533f8" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_2a1e9124-2c0c-4551-bc61-8303c1ef381a" xlink:to="loc_us-gaap_DueFromAffiliates_8607fe78-eabb-44cb-a022-3b8e509533f8" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssets_44e14634-0a00-48d6-9b79-354e6a5681d8" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_2a1e9124-2c0c-4551-bc61-8303c1ef381a" xlink:to="loc_us-gaap_OtherAssets_44e14634-0a00-48d6-9b79-354e6a5681d8" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxAssetsNet_38af04c8-438c-44a2-a88f-39db56d28153" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_2a1e9124-2c0c-4551-bc61-8303c1ef381a" xlink:to="loc_us-gaap_DeferredIncomeTaxAssetsNet_38af04c8-438c-44a2-a88f-39db56d28153" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity_8933a90f-d63f-4c5c-b8fa-b31cd0d513f5" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StockholdersEquity"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_8031d63c-d9e1-4986-bdb2-16c4b81ebc74" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_8933a90f-d63f-4c5c-b8fa-b31cd0d513f5" xlink:to="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_8031d63c-d9e1-4986-bdb2-16c4b81ebc74" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit_25a15c81-991b-465f-b185-5a9f2360fe74" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_8933a90f-d63f-4c5c-b8fa-b31cd0d513f5" xlink:to="loc_us-gaap_RetainedEarningsAccumulatedDeficit_25a15c81-991b-465f-b185-5a9f2360fe74" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapital_9f29de44-ea90-4776-9550-78830813fa7d" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_8933a90f-d63f-4c5c-b8fa-b31cd0d513f5" xlink:to="loc_us-gaap_AdditionalPaidInCapital_9f29de44-ea90-4776-9550-78830813fa7d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockValue_1eeb4e69-d9ff-47cc-b4ae-c3600ec920f9" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_8933a90f-d63f-4c5c-b8fa-b31cd0d513f5" xlink:to="loc_us-gaap_CommonStockValue_1eeb4e69-d9ff-47cc-b4ae-c3600ec920f9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockValue_25816574-eccb-49ae-8bbc-38f9e3215932" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_8933a90f-d63f-4c5c-b8fa-b31cd0d513f5" xlink:to="loc_us-gaap_PreferredStockValue_25816574-eccb-49ae-8bbc-38f9e3215932" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Liabilities_1dfaf816-7385-45ad-b436-d53de34a454f" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_Liabilities"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_PayablesToBrokerDealersAndClearingOrganizations_fafa4090-2789-4b43-955a-b3e8ec567962" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.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_1dfaf816-7385-45ad-b436-d53de34a454f" xlink:to="loc_srt_PayablesToBrokerDealersAndClearingOrganizations_fafa4090-2789-4b43-955a-b3e8ec567962" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent_b1d5f9d8-1ad4-44cc-99d5-ce599e038816" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_1dfaf816-7385-45ad-b436-d53de34a454f" xlink:to="loc_us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent_b1d5f9d8-1ad4-44cc-99d5-ce599e038816" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ContractWithCustomerLiability_8558efb9-db1b-4c3e-9f46-fd58b8246532" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_1dfaf816-7385-45ad-b436-d53de34a454f" xlink:to="loc_us-gaap_ContractWithCustomerLiability_8558efb9-db1b-4c3e-9f46-fd58b8246532" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_989fd8fb-c8b9-43dc-b04e-f0b1ee562a04" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_1dfaf816-7385-45ad-b436-d53de34a454f" xlink:to="loc_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_989fd8fb-c8b9-43dc-b04e-f0b1ee562a04" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLiability_809ef06c-3a83-4aff-90fd-15a63bc80c9d" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_1dfaf816-7385-45ad-b436-d53de34a454f" xlink:to="loc_us-gaap_OperatingLeaseLiability_809ef06c-3a83-4aff-90fd-15a63bc80c9d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_EquityCompensationPayable_2c2b6cea-b88e-44a1-9948-8b9e8607a133" xlink:href="tw-20211231.xsd#tw_EquityCompensationPayable"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_1dfaf816-7385-45ad-b436-d53de34a454f" xlink:to="loc_tw_EquityCompensationPayable_2c2b6cea-b88e-44a1-9948-8b9e8607a133" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_TaxReceivableAgreementLiability_298bf9bb-d741-4d6b-a028-47ea41343540" xlink:href="tw-20211231.xsd#tw_TaxReceivableAgreementLiability"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_1dfaf816-7385-45ad-b436-d53de34a454f" xlink:to="loc_tw_TaxReceivableAgreementLiability_298bf9bb-d741-4d6b-a028-47ea41343540" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DueToAffiliateCurrentAndNoncurrent_495feaa4-298e-41a4-87ed-fc10c2432d39" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DueToAffiliateCurrentAndNoncurrent"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_1dfaf816-7385-45ad-b436-d53de34a454f" xlink:to="loc_us-gaap_DueToAffiliateCurrentAndNoncurrent_495feaa4-298e-41a4-87ed-fc10c2432d39" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_ad547027-69b9-4ab3-ae42-273c0742857e" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilitiesNet"/>
    <link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_1dfaf816-7385-45ad-b436-d53de34a454f" xlink:to="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_ad547027-69b9-4ab3-ae42-273c0742857e" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/ConsolidatedStatementsofIncome" xlink:type="simple" xlink:href="tw-20211231.xsd#ConsolidatedStatementsofIncome"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/ConsolidatedStatementsofIncome" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss_720090cc-37db-4162-9508-15dea95f218f" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NetIncomeLoss"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_ProfitLossAfterPreIPO_e296283c-16ee-4319-99c9-ea25fab693bb" xlink:href="tw-20211231.xsd#tw_ProfitLossAfterPreIPO"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLoss_720090cc-37db-4162-9508-15dea95f218f" xlink:to="loc_tw_ProfitLossAfterPreIPO_e296283c-16ee-4319-99c9-ea25fab693bb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_c4208ccd-43dc-421b-b000-12a094c7309d" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_720090cc-37db-4162-9508-15dea95f218f" xlink:to="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_c4208ccd-43dc-421b-b000-12a094c7309d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_ProfitLossAfterPreIPO_8ba9d46c-b5b0-47d5-a08a-97806576384b" xlink:href="tw-20211231.xsd#tw_ProfitLossAfterPreIPO"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_NetIncomeLossAttributableToLimitedLiabilityCompany_933200ee-fdcf-43bc-b2cc-53d138ae9aaa" xlink:href="tw-20211231.xsd#tw_NetIncomeLossAttributableToLimitedLiabilityCompany"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_tw_ProfitLossAfterPreIPO_8ba9d46c-b5b0-47d5-a08a-97806576384b" xlink:to="loc_tw_NetIncomeLossAttributableToLimitedLiabilityCompany_933200ee-fdcf-43bc-b2cc-53d138ae9aaa" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_149136de-0445-443c-b18e-72cb162cb6ee" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProfitLoss"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_tw_ProfitLossAfterPreIPO_8ba9d46c-b5b0-47d5-a08a-97806576384b" xlink:to="loc_us-gaap_ProfitLoss_149136de-0445-443c-b18e-72cb162cb6ee" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_0a8199fd-ea9e-4e5b-9e2e-34cd1cee393d" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingIncomeLoss_9b8f2f72-8307-494e-b79b-d15d3610e786" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_0a8199fd-ea9e-4e5b-9e2e-34cd1cee393d" xlink:to="loc_us-gaap_OperatingIncomeLoss_9b8f2f72-8307-494e-b79b-d15d3610e786" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestIncomeExpenseNet_b6ea92dc-3f34-4e04-b2ff-f3298c27bacf" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_0a8199fd-ea9e-4e5b-9e2e-34cd1cee393d" xlink:to="loc_us-gaap_InterestIncomeExpenseNet_b6ea92dc-3f34-4e04-b2ff-f3298c27bacf" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_TaxReceivableAgreementLiabilityAdjustment_4292208b-f9aa-4a81-bc8c-2788fdaff2de" xlink:href="tw-20211231.xsd#tw_TaxReceivableAgreementLiabilityAdjustment"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_0a8199fd-ea9e-4e5b-9e2e-34cd1cee393d" xlink:to="loc_tw_TaxReceivableAgreementLiabilityAdjustment_4292208b-f9aa-4a81-bc8c-2788fdaff2de" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_ec4e4d17-8412-4753-a119-3347d4f1a57f" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProfitLoss"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_ad41cf6a-b3fe-4122-b7ef-bf6eddeb3349" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_ec4e4d17-8412-4753-a119-3347d4f1a57f" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_ad41cf6a-b3fe-4122-b7ef-bf6eddeb3349" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_9cdec1a0-fcd1-4de2-b523-996c5ffaf744" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_ec4e4d17-8412-4753-a119-3347d4f1a57f" xlink:to="loc_us-gaap_IncomeTaxExpenseBenefit_9cdec1a0-fcd1-4de2-b523-996c5ffaf744" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostsAndExpenses_c0b4dfa4-06b2-45c2-ac1d-ad31aedfc882" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CostsAndExpenses"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LaborAndRelatedExpense_0f311ff1-c9ec-4c4d-accd-e06adb0bde05" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_c0b4dfa4-06b2-45c2-ac1d-ad31aedfc882" xlink:to="loc_us-gaap_LaborAndRelatedExpense_0f311ff1-c9ec-4c4d-accd-e06adb0bde05" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepreciationAndAmortization_27e7dbab-77c4-4095-be4b-3659c8656f07" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_c0b4dfa4-06b2-45c2-ac1d-ad31aedfc882" xlink:to="loc_us-gaap_DepreciationAndAmortization_27e7dbab-77c4-4095-be4b-3659c8656f07" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommunicationsAndInformationTechnology_75ac59b8-93a8-433b-8ccc-6e62a9bbd0bb" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_c0b4dfa4-06b2-45c2-ac1d-ad31aedfc882" xlink:to="loc_us-gaap_CommunicationsAndInformationTechnology_75ac59b8-93a8-433b-8ccc-6e62a9bbd0bb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherGeneralAndAdministrativeExpense_6e408b18-7628-4efc-8569-ec05f8b6a861" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_c0b4dfa4-06b2-45c2-ac1d-ad31aedfc882" xlink:to="loc_us-gaap_OtherGeneralAndAdministrativeExpense_6e408b18-7628-4efc-8569-ec05f8b6a861" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfessionalFees_f15c3fa1-b0e0-441b-99a7-b22543eb4012" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_c0b4dfa4-06b2-45c2-ac1d-ad31aedfc882" xlink:to="loc_us-gaap_ProfessionalFees_f15c3fa1-b0e0-441b-99a7-b22543eb4012" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OccupancyNet_04d71f2d-da03-4a70-b4d8-0e733c12a137" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_c0b4dfa4-06b2-45c2-ac1d-ad31aedfc882" xlink:to="loc_us-gaap_OccupancyNet_04d71f2d-da03-4a70-b4d8-0e733c12a137" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingIncomeLoss_84110352-743b-4745-a220-729b9978d68d" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OperatingIncomeLoss"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostsAndExpenses_58b8f6bb-cee6-4b8a-a2e8-334f8145fb8d" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_84110352-743b-4745-a220-729b9978d68d" xlink:to="loc_us-gaap_CostsAndExpenses_58b8f6bb-cee6-4b8a-a2e8-334f8145fb8d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_1b5a6e23-c668-4a1a-9776-8f26055bd729" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_84110352-743b-4745-a220-729b9978d68d" xlink:to="loc_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_1b5a6e23-c668-4a1a-9776-8f26055bd729" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/ConsolidatedStatementsofComprehensiveIncome" xlink:type="simple" xlink:href="tw-20211231.xsd#ConsolidatedStatementsofComprehensiveIncome"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/ConsolidatedStatementsofComprehensiveIncome" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_44c81397-0625-45e7-a3f0-2be9173d3388" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_84796b68-79b7-4fb3-9767-dd315aa7ea68" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_44c81397-0625-45e7-a3f0-2be9173d3388" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_84796b68-79b7-4fb3-9767-dd315aa7ea68" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_faf67071-fb86-4b36-9abe-c2516060610c" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_44c81397-0625-45e7-a3f0-2be9173d3388" xlink:to="loc_us-gaap_ProfitLoss_faf67071-fb86-4b36-9abe-c2516060610c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax_10922def-ed5b-4755-9676-f76d6571c7e4" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_309867c5-8080-4ccd-a254-05ed25854681" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_10922def-ed5b-4755-9676-f76d6571c7e4" xlink:to="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_309867c5-8080-4ccd-a254-05ed25854681" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest_e3e315ec-7ebe-4792-8bc9-7c75adb893e9" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_10922def-ed5b-4755-9676-f76d6571c7e4" xlink:to="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest_e3e315ec-7ebe-4792-8bc9-7c75adb893e9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_f6906fb2-cef8-45b5-ae69-6da9f215e2a6" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_10922def-ed5b-4755-9676-f76d6571c7e4" xlink:to="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_f6906fb2-cef8-45b5-ae69-6da9f215e2a6" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_NetIncomeLossAttributableToLimitedLiabilityCompany_25b0719d-18b3-4714-a0d1-3615ce95d10c" xlink:href="tw-20211231.xsd#tw_NetIncomeLossAttributableToLimitedLiabilityCompany"/>
    <link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_10922def-ed5b-4755-9676-f76d6571c7e4" xlink:to="loc_tw_NetIncomeLossAttributableToLimitedLiabilityCompany_25b0719d-18b3-4714-a0d1-3615ce95d10c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent_48e7757e-cae1-43a9-a558-15d01870d008" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_10922def-ed5b-4755-9676-f76d6571c7e4" xlink:to="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent_48e7757e-cae1-43a9-a558-15d01870d008" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_f905c05a-3f50-43a4-9570-f1036bd70d25" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_1e028431-8ea3-40aa-afee-5875ac52730e" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_f905c05a-3f50-43a4-9570-f1036bd70d25" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_1e028431-8ea3-40aa-afee-5875ac52730e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_83b388e7-11eb-48db-871f-b1d510e0c8f3" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest_2b1ccb95-98a9-4065-9964-accf90405617" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_83b388e7-11eb-48db-871f-b1d510e0c8f3" xlink:to="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest_2b1ccb95-98a9-4065-9964-accf90405617" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_a82d58ee-07d5-4cdd-a732-eafd9737575c" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_83b388e7-11eb-48db-871f-b1d510e0c8f3" xlink:to="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_a82d58ee-07d5-4cdd-a732-eafd9737575c" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/ConsolidatedStatementsofComprehensiveIncome_1" xlink:type="simple" xlink:href="tw-20211231.xsd#ConsolidatedStatementsofComprehensiveIncome_1"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/ConsolidatedStatementsofComprehensiveIncome_1" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax_256595d3-ad73-437e-8acb-d964b9fa6d2f" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent_ffabddf1-2029-4de6-a043-194c7e0ece45" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_256595d3-ad73-437e-8acb-d964b9fa6d2f" xlink:to="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent_ffabddf1-2029-4de6-a043-194c7e0ece45" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss_2313af14-249c-4d07-a5ff-35367b488af4" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_256595d3-ad73-437e-8acb-d964b9fa6d2f" xlink:to="loc_us-gaap_NetIncomeLoss_2313af14-249c-4d07-a5ff-35367b488af4" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_NetIncomeLossAttributableToLimitedLiabilityCompany_65fb720b-230d-4fe3-a01d-4c5c025ecfed" xlink:href="tw-20211231.xsd#tw_NetIncomeLossAttributableToLimitedLiabilityCompany"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_256595d3-ad73-437e-8acb-d964b9fa6d2f" xlink:to="loc_tw_NetIncomeLossAttributableToLimitedLiabilityCompany_65fb720b-230d-4fe3-a01d-4c5c025ecfed" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/ConsolidatedStatementsofCashFlows" xlink:type="simple" xlink:href="tw-20211231.xsd#ConsolidatedStatementsofCashFlows"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/ConsolidatedStatementsofCashFlows" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_46ec4bb5-e9e8-4b3a-acac-338e9175009a" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForSoftware_a99efc72-aee3-444f-bf14-1d75a47dac39" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsForSoftware"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_46ec4bb5-e9e8-4b3a-acac-338e9175009a" xlink:to="loc_us-gaap_PaymentsForSoftware_a99efc72-aee3-444f-bf14-1d75a47dac39" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_364749c7-70a4-4a74-a14b-35dafe937dd8" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_46ec4bb5-e9e8-4b3a-acac-338e9175009a" xlink:to="loc_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_364749c7-70a4-4a74-a14b-35dafe937dd8" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_46277e9c-a9a3-4a65-92f8-157874c44e24" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_46ec4bb5-e9e8-4b3a-acac-338e9175009a" xlink:to="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_46277e9c-a9a3-4a65-92f8-157874c44e24" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireInvestments_c1177b79-7a50-4c0b-bde6-ea61a8703bd2" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsToAcquireInvestments"/>
    <link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_46ec4bb5-e9e8-4b3a-acac-338e9175009a" xlink:to="loc_us-gaap_PaymentsToAcquireInvestments_c1177b79-7a50-4c0b-bde6-ea61a8703bd2" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_e5c05c57-5621-486e-ada0-d54e60ce62d1" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_fe30b413-0374-4329-b628-1136293abd88" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_e5c05c57-5621-486e-ada0-d54e60ce62d1" xlink:to="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_fe30b413-0374-4329-b628-1136293abd88" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_30cd9f37-1ffd-4f9f-92ff-d1723e11fbaf" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_e5c05c57-5621-486e-ada0-d54e60ce62d1" xlink:to="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_30cd9f37-1ffd-4f9f-92ff-d1723e11fbaf" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_60c56193-36f2-475b-a690-90552dbadb9d" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_e5c05c57-5621-486e-ada0-d54e60ce62d1" xlink:to="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_60c56193-36f2-475b-a690-90552dbadb9d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_6cab46bb-95ad-4628-b867-e2c3835a40b2" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_e5c05c57-5621-486e-ada0-d54e60ce62d1" xlink:to="loc_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_6cab46bb-95ad-4628-b867-e2c3835a40b2" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_325fa106-eb1d-4323-8273-0b31b8155ce0" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfCommonStock_219ece2b-dd97-40c7-a162-11ff0306e41f" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_325fa106-eb1d-4323-8273-0b31b8155ce0" xlink:to="loc_us-gaap_ProceedsFromIssuanceOfCommonStock_219ece2b-dd97-40c7-a162-11ff0306e41f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfOrdinaryDividends_0445703c-15af-46f9-95e4-06e01281f3cf" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsOfOrdinaryDividends"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_325fa106-eb1d-4323-8273-0b31b8155ce0" xlink:to="loc_us-gaap_PaymentsOfOrdinaryDividends_0445703c-15af-46f9-95e4-06e01281f3cf" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_f2d878a8-5a99-48ac-82c6-06c40ee1a04f" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_325fa106-eb1d-4323-8273-0b31b8155ce0" xlink:to="loc_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_f2d878a8-5a99-48ac-82c6-06c40ee1a04f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromStockOptionsExercised_956a88c1-1cd4-4b81-8c16-41df220f9f1f" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromStockOptionsExercised"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_325fa106-eb1d-4323-8273-0b31b8155ce0" xlink:to="loc_us-gaap_ProceedsFromStockOptionsExercised_956a88c1-1cd4-4b81-8c16-41df220f9f1f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfStockIssuanceCosts_c80dadcd-190e-4749-883c-1b307d35a160" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsOfStockIssuanceCosts"/>
    <link:calculationArc order="5" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_325fa106-eb1d-4323-8273-0b31b8155ce0" xlink:to="loc_us-gaap_PaymentsOfStockIssuanceCosts_c80dadcd-190e-4749-883c-1b307d35a160" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_PaymentsOfCapitalDistributionToNoncontrollingInterest_6701fa0d-0b35-4645-9e77-4a45a1c58f0d" xlink:href="tw-20211231.xsd#tw_PaymentsOfCapitalDistributionToNoncontrollingInterest"/>
    <link:calculationArc order="6" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_325fa106-eb1d-4323-8273-0b31b8155ce0" xlink:to="loc_tw_PaymentsOfCapitalDistributionToNoncontrollingInterest_6701fa0d-0b35-4645-9e77-4a45a1c58f0d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest_6adca828-9144-4245-9b39-3bc53bce483a" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest"/>
    <link:calculationArc order="7" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_325fa106-eb1d-4323-8273-0b31b8155ce0" xlink:to="loc_us-gaap_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest_6adca828-9144-4245-9b39-3bc53bce483a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_PaymentsOnTaxReceivableAgreementLiability_ef3a96cd-6ce4-41cb-91c5-40fd183f49d5" xlink:href="tw-20211231.xsd#tw_PaymentsOnTaxReceivableAgreementLiability"/>
    <link:calculationArc order="8" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_325fa106-eb1d-4323-8273-0b31b8155ce0" xlink:to="loc_tw_PaymentsOnTaxReceivableAgreementLiability_ef3a96cd-6ce4-41cb-91c5-40fd183f49d5" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_7d47fba0-9fb8-4c9f-a753-cdb1d4e183ea" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock"/>
    <link:calculationArc order="9" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_325fa106-eb1d-4323-8273-0b31b8155ce0" xlink:to="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_7d47fba0-9fb8-4c9f-a753-cdb1d4e183ea" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfCapitalDistribution_6b6bea24-f868-44ba-8169-b51119d72a62" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsOfCapitalDistribution"/>
    <link:calculationArc order="10" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_325fa106-eb1d-4323-8273-0b31b8155ce0" xlink:to="loc_us-gaap_PaymentsOfCapitalDistribution_6b6bea24-f868-44ba-8169-b51119d72a62" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_491c4928-db59-4d65-8758-de4bd45faf6f" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_6f5f1eb9-8a0b-4c52-8dfa-f154a8b9c8a5" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_491c4928-db59-4d65-8758-de4bd45faf6f" xlink:to="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_6f5f1eb9-8a0b-4c52-8dfa-f154a8b9c8a5" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedCash_53bbdca6-7856-4e91-bfd9-88f601313caa" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_491c4928-db59-4d65-8758-de4bd45faf6f" xlink:to="loc_us-gaap_RestrictedCash_53bbdca6-7856-4e91-bfd9-88f601313caa" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_868e875e-114a-40dd-a787-1b5777841c64" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_e994e3ac-80eb-43f9-90d1-3ddf19276f2e" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_868e875e-114a-40dd-a787-1b5777841c64" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_e994e3ac-80eb-43f9-90d1-3ddf19276f2e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInBrokerageReceivables_c13a6aaa-dee5-49e9-bf3a-a2cb2fb9907e" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_868e875e-114a-40dd-a787-1b5777841c64" xlink:to="loc_us-gaap_IncreaseDecreaseInBrokerageReceivables_c13a6aaa-dee5-49e9-bf3a-a2cb2fb9907e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInDeferredRevenue_b8e90833-b7a0-4118-a8f5-13871868d63f" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_868e875e-114a-40dd-a787-1b5777841c64" xlink:to="loc_us-gaap_IncreaseDecreaseInDeferredRevenue_b8e90833-b7a0-4118-a8f5-13871868d63f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInDepositOtherAssets_11c1e7dc-4d33-458b-ad7e-9e43b8969adb" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_868e875e-114a-40dd-a787-1b5777841c64" xlink:to="loc_us-gaap_IncreaseDecreaseInDepositOtherAssets_11c1e7dc-4d33-458b-ad7e-9e43b8969adb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_d61ea4be-5646-4a48-9ba3-8f1f4c423808" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_868e875e-114a-40dd-a787-1b5777841c64" xlink:to="loc_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_d61ea4be-5646-4a48-9ba3-8f1f4c423808" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepreciationAndAmortization_d6de6993-fa5f-405c-acba-2a85c0bc558a" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_868e875e-114a-40dd-a787-1b5777841c64" xlink:to="loc_us-gaap_DepreciationAndAmortization_d6de6993-fa5f-405c-acba-2a85c0bc558a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_153f8d1f-cef7-499f-abf4-3ee759c241e2" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_868e875e-114a-40dd-a787-1b5777841c64" xlink:to="loc_us-gaap_ProfitLoss_153f8d1f-cef7-499f-abf4-3ee759c241e2" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_c2e6faa4-7062-4e9c-b6b4-cb4e8d6fbf35" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_868e875e-114a-40dd-a787-1b5777841c64" xlink:to="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_c2e6faa4-7062-4e9c-b6b4-cb4e8d6fbf35" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseDueFromAffiliates_7e867383-951b-4d26-b156-5f4a1f69f8ea" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_868e875e-114a-40dd-a787-1b5777841c64" xlink:to="loc_us-gaap_IncreaseDecreaseDueFromAffiliates_7e867383-951b-4d26-b156-5f4a1f69f8ea" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_IncreaseDecreaseInEquityCompensationPayable_5e7dc7dd-4e47-4c59-b43d-5f47909c1205" xlink:href="tw-20211231.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_868e875e-114a-40dd-a787-1b5777841c64" xlink:to="loc_tw_IncreaseDecreaseInEquityCompensationPayable_5e7dc7dd-4e47-4c59-b43d-5f47909c1205" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsReceivable_5b106e64-4bdd-4ff6-854d-f86934f75d7d" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_868e875e-114a-40dd-a787-1b5777841c64" xlink:to="loc_us-gaap_IncreaseDecreaseInAccountsReceivable_5b106e64-4bdd-4ff6-854d-f86934f75d7d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensation_fa49be38-665d-4f8c-8cbd-518902d6d7e3" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_868e875e-114a-40dd-a787-1b5777841c64" xlink:to="loc_us-gaap_ShareBasedCompensation_fa49be38-665d-4f8c-8cbd-518902d6d7e3" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_5e11cfc1-ce3b-47c6-8d47-eb71b6656d29" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_868e875e-114a-40dd-a787-1b5777841c64" xlink:to="loc_us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_5e11cfc1-ce3b-47c6-8d47-eb71b6656d29" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_TaxReceivableAgreementLiabilityAdjustment_ba0d3a94-6d80-4a66-9f89-909eb3a1e9bb" xlink:href="tw-20211231.xsd#tw_TaxReceivableAgreementLiabilityAdjustment"/>
    <link:calculationArc order="14" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_868e875e-114a-40dd-a787-1b5777841c64" xlink:to="loc_tw_TaxReceivableAgreementLiabilityAdjustment_ba0d3a94-6d80-4a66-9f89-909eb3a1e9bb" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/AcquisitionsScheduleofPreliminaryPurchasePriceDetails" xlink:type="simple" xlink:href="tw-20211231.xsd#AcquisitionsScheduleofPreliminaryPurchasePriceDetails"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/AcquisitionsScheduleofPreliminaryPurchasePriceDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_e2d967bc-975f-46aa-b142-7de96eed45f5" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_2e9889f4-50f6-419d-8b8d-6a43e4599d30" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_e2d967bc-975f-46aa-b142-7de96eed45f5" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_2e9889f4-50f6-419d-8b8d-6a43e4599d30" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesDeferredRevenue_1937642b-da3b-4430-a9d3-04fcb2e500a7" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesDeferredRevenue"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_e2d967bc-975f-46aa-b142-7de96eed45f5" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesDeferredRevenue_1937642b-da3b-4430-a9d3-04fcb2e500a7" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeposits_4c581b06-4217-4892-ade7-df584d99e1ab" xlink:href="tw-20211231.xsd#tw_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeposits"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_e2d967bc-975f-46aa-b142-7de96eed45f5" xlink:to="loc_tw_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeposits_4c581b06-4217-4892-ade7-df584d99e1ab" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Goodwill_49d15685-7faa-43ca-abe1-ab3ce94f0693" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_Goodwill"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_e2d967bc-975f-46aa-b142-7de96eed45f5" xlink:to="loc_us-gaap_Goodwill_49d15685-7faa-43ca-abe1-ab3ce94f0693" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_e410125a-2286-420d-803c-869dc871fb2a" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_e2d967bc-975f-46aa-b142-7de96eed45f5" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_e410125a-2286-420d-803c-869dc871fb2a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedEmployeesRelatedLiabilities_c0d7b7a6-628b-4011-a835-d11f40dcb827" xlink:href="tw-20211231.xsd#tw_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedEmployeesRelatedLiabilities"/>
    <link:calculationArc order="6" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_e2d967bc-975f-46aa-b142-7de96eed45f5" xlink:to="loc_tw_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedEmployeesRelatedLiabilities_c0d7b7a6-628b-4011-a835-d11f40dcb827" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_ba72d341-ff86-4360-a38a-7c09dddf4f53" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable"/>
    <link:calculationArc order="7" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_e2d967bc-975f-46aa-b142-7de96eed45f5" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_ba72d341-ff86-4360-a38a-7c09dddf4f53" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_f60d6f1b-d22a-47d3-b72a-7393a6ad97f2" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_e2d967bc-975f-46aa-b142-7de96eed45f5" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_f60d6f1b-d22a-47d3-b72a-7393a6ad97f2" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_a2f1c50e-4592-4d29-9ee5-f7e98bb39278" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents"/>
    <link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_e2d967bc-975f-46aa-b142-7de96eed45f5" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_a2f1c50e-4592-4d29-9ee5-f7e98bb39278" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/SoftwareDevelopmentCostsDetails" xlink:type="simple" xlink:href="tw-20211231.xsd#SoftwareDevelopmentCostsDetails"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/SoftwareDevelopmentCostsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CapitalizedComputerSoftwareNet_7b5941e2-6966-4217-bd97-60f703dbf44d" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CapitalizedComputerSoftwareNet"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CapitalizedComputerSoftwareGross_ee2f04a1-c5ca-4d8b-9050-c02c4ecf02cb" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CapitalizedComputerSoftwareGross"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CapitalizedComputerSoftwareNet_7b5941e2-6966-4217-bd97-60f703dbf44d" xlink:to="loc_us-gaap_CapitalizedComputerSoftwareGross_ee2f04a1-c5ca-4d8b-9050-c02c4ecf02cb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CapitalizedComputerSoftwareAccumulatedAmortization_c2d52194-1de5-414b-a17a-e16a79c81c72" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CapitalizedComputerSoftwareAccumulatedAmortization"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CapitalizedComputerSoftwareNet_7b5941e2-6966-4217-bd97-60f703dbf44d" xlink:to="loc_us-gaap_CapitalizedComputerSoftwareAccumulatedAmortization_c2d52194-1de5-414b-a17a-e16a79c81c72" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/GoodwillandIntangibleAssetsFiniteLivedIntangibleAssetsDetails" xlink:type="simple" xlink:href="tw-20211231.xsd#GoodwillandIntangibleAssetsFiniteLivedIntangibleAssetsDetails"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/GoodwillandIntangibleAssetsFiniteLivedIntangibleAssetsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet_58e6d7ed-92bd-4dbd-8bd9-a8f183141d06" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_8a0b4401-bb49-428c-ae89-683aaa1dae5f" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_58e6d7ed-92bd-4dbd-8bd9-a8f183141d06" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_8a0b4401-bb49-428c-ae89-683aaa1dae5f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsGross_5a417b03-8445-4fa7-94b1-2118f9428d4e" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGross"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_58e6d7ed-92bd-4dbd-8bd9-a8f183141d06" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsGross_5a417b03-8445-4fa7-94b1-2118f9428d4e" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/LeasesMaturityofLeaseLiabilitiesandFutureMinimumLeasePaymentsDetails" xlink:type="simple" xlink:href="tw-20211231.xsd#LeasesMaturityofLeaseLiabilitiesandFutureMinimumLeasePaymentsDetails"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/LeasesMaturityofLeaseLiabilitiesandFutureMinimumLeasePaymentsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_0874ed1c-a702-4d51-957a-6911ce6cc8b3" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLiability_289ee617-0783-4361-9e5e-e161b4a91be1" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_0874ed1c-a702-4d51-957a-6911ce6cc8b3" xlink:to="loc_us-gaap_OperatingLeaseLiability_289ee617-0783-4361-9e5e-e161b4a91be1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_a55e68f1-f457-4d9f-89a7-0d79bde73035" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_0874ed1c-a702-4d51-957a-6911ce6cc8b3" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_a55e68f1-f457-4d9f-89a7-0d79bde73035" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/LeasesMaturityofLeaseLiabilitiesandFutureMinimumLeasePaymentsDetails_1" xlink:type="simple" xlink:href="tw-20211231.xsd#LeasesMaturityofLeaseLiabilitiesandFutureMinimumLeasePaymentsDetails_1"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/LeasesMaturityofLeaseLiabilitiesandFutureMinimumLeasePaymentsDetails_1" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_d24837fe-86f0-436e-9abb-a49c113c9fb9" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_732a5a78-903f-40fe-b54d-d48a8ff14f22" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_d24837fe-86f0-436e-9abb-a49c113c9fb9" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_732a5a78-903f-40fe-b54d-d48a8ff14f22" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_129a254c-d503-42d7-8653-205e9eea3b8b" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_d24837fe-86f0-436e-9abb-a49c113c9fb9" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_129a254c-d503-42d7-8653-205e9eea3b8b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_d0e021b9-4d34-45a2-830a-c247815f8f43" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_d24837fe-86f0-436e-9abb-a49c113c9fb9" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_d0e021b9-4d34-45a2-830a-c247815f8f43" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_3d92b33d-ee6f-4c23-802e-82f8b306e355" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_d24837fe-86f0-436e-9abb-a49c113c9fb9" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_3d92b33d-ee6f-4c23-802e-82f8b306e355" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_397a42da-98ae-4c3b-b6b4-f3d699d042f2" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_d24837fe-86f0-436e-9abb-a49c113c9fb9" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_397a42da-98ae-4c3b-b6b4-f3d699d042f2" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_181b6cc0-fc2a-4a8b-a8c0-27b02d51bcb3" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_d24837fe-86f0-436e-9abb-a49c113c9fb9" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_181b6cc0-fc2a-4a8b-a8c0-27b02d51bcb3" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/IncomeTaxesComponentsofProvisionDetails" xlink:type="simple" xlink:href="tw-20211231.xsd#IncomeTaxesComponentsofProvisionDetails"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/IncomeTaxesComponentsofProvisionDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_a11435d9-84ad-4211-beb7-bfa574970d2b" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_0d3980bb-3286-4d8c-ad9d-2bbc19642fcb" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CurrentStateAndLocalTaxExpenseBenefit"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_a11435d9-84ad-4211-beb7-bfa574970d2b" xlink:to="loc_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_0d3980bb-3286-4d8c-ad9d-2bbc19642fcb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentFederalTaxExpenseBenefit_d65551c4-b0ad-4899-9a00-6f273867b38d" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CurrentFederalTaxExpenseBenefit"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_a11435d9-84ad-4211-beb7-bfa574970d2b" xlink:to="loc_us-gaap_CurrentFederalTaxExpenseBenefit_d65551c4-b0ad-4899-9a00-6f273867b38d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentForeignTaxExpenseBenefit_e29c3fd9-989a-4025-a4d6-50116a98fbac" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CurrentForeignTaxExpenseBenefit"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_a11435d9-84ad-4211-beb7-bfa574970d2b" xlink:to="loc_us-gaap_CurrentForeignTaxExpenseBenefit_e29c3fd9-989a-4025-a4d6-50116a98fbac" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_58e077e3-098a-44bc-ab7b-83da369b59e4" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_0aed5733-7e1c-42ec-8680-21395de4d85f" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_58e077e3-098a-44bc-ab7b-83da369b59e4" xlink:to="loc_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_0aed5733-7e1c-42ec-8680-21395de4d85f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredForeignIncomeTaxExpenseBenefit_c5a6b917-c8ce-4b73-86a2-1517bb6d630f" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredForeignIncomeTaxExpenseBenefit"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_58e077e3-098a-44bc-ab7b-83da369b59e4" xlink:to="loc_us-gaap_DeferredForeignIncomeTaxExpenseBenefit_c5a6b917-c8ce-4b73-86a2-1517bb6d630f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_8166ed03-7ce1-4fce-81d0-d0a3b2963f9a" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredFederalIncomeTaxExpenseBenefit"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_58e077e3-098a-44bc-ab7b-83da369b59e4" xlink:to="loc_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_8166ed03-7ce1-4fce-81d0-d0a3b2963f9a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_cff802b8-4f09-4529-92af-83aad6a08798" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_c108375c-9201-4261-bc07-c14da7b16fb6" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_cff802b8-4f09-4529-92af-83aad6a08798" xlink:to="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_c108375c-9201-4261-bc07-c14da7b16fb6" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_61688330-95a1-486e-b665-92572156ff32" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_cff802b8-4f09-4529-92af-83aad6a08798" xlink:to="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_61688330-95a1-486e-b665-92572156ff32" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/IncomeTaxesReconciliationoftheStatutoryRateDetails" xlink:type="simple" xlink:href="tw-20211231.xsd#IncomeTaxesReconciliationoftheStatutoryRateDetails"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/IncomeTaxesReconciliationoftheStatutoryRateDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_3f757e40-4a34-47ca-bbd1-1c05063dd856" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EffectiveIncomeTaxRateContinuingOperations"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent_684e53aa-e1e7-4401-885a-e56e61a664c5" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_3f757e40-4a34-47ca-bbd1-1c05063dd856" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent_684e53aa-e1e7-4401-885a-e56e61a664c5" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments_6f465108-dd7d-43ef-937e-5f447a27ffb2" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_3f757e40-4a34-47ca-bbd1-1c05063dd856" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments_6f465108-dd7d-43ef-937e-5f447a27ffb2" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_d38266b2-8f13-4eff-b442-23ebc49368ba" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_3f757e40-4a34-47ca-bbd1-1c05063dd856" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_d38266b2-8f13-4eff-b442-23ebc49368ba" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_EffectiveIncomeTaxRateReconciliationEquityCompensationPercent_e7fbe7e3-5cfa-495d-952a-13933b610c9d" xlink:href="tw-20211231.xsd#tw_EffectiveIncomeTaxRateReconciliationEquityCompensationPercent"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_3f757e40-4a34-47ca-bbd1-1c05063dd856" xlink:to="loc_tw_EffectiveIncomeTaxRateReconciliationEquityCompensationPercent_e7fbe7e3-5cfa-495d-952a-13933b610c9d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate_e72a3536-4f73-49b6-95c9-826648afd4c4" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_3f757e40-4a34-47ca-bbd1-1c05063dd856" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate_e72a3536-4f73-49b6-95c9-826648afd4c4" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_e4569090-8f6f-4b5e-a24a-4e06be0b8b80" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_3f757e40-4a34-47ca-bbd1-1c05063dd856" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_e4569090-8f6f-4b5e-a24a-4e06be0b8b80" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense_851d13cd-e988-41ba-84cc-0ecfcb7ca1b7" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_3f757e40-4a34-47ca-bbd1-1c05063dd856" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense_851d13cd-e988-41ba-84cc-0ecfcb7ca1b7" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_e766bbab-d095-47f7-9480-cd689ceab118" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_3f757e40-4a34-47ca-bbd1-1c05063dd856" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_e766bbab-d095-47f7-9480-cd689ceab118" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/IncomeTaxesDeferredTaxAssetDetails" xlink:type="simple" xlink:href="tw-20211231.xsd#IncomeTaxesDeferredTaxAssetDetails"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/IncomeTaxesDeferredTaxAssetDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsGross_ba00a0cd-b156-44c7-9ca0-3cec9f7dc2d6" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredTaxAssetsGross"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_DeferredTaxAssetsTaxReceivableAgreement_ea562a33-6188-40e6-ae59-1d857dd9a58b" xlink:href="tw-20211231.xsd#tw_DeferredTaxAssetsTaxReceivableAgreement"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_ba00a0cd-b156-44c7-9ca0-3cec9f7dc2d6" xlink:to="loc_tw_DeferredTaxAssetsTaxReceivableAgreement_ea562a33-6188-40e6-ae59-1d857dd9a58b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_6ff363c0-4609-488f-a865-5bbbc5053c63" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredTaxAssetsOperatingLossCarryforwards"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_ba00a0cd-b156-44c7-9ca0-3cec9f7dc2d6" xlink:to="loc_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_6ff363c0-4609-488f-a865-5bbbc5053c63" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_bad88694-8417-4a51-a513-8647dd093dae" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_ba00a0cd-b156-44c7-9ca0-3cec9f7dc2d6" xlink:to="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_bad88694-8417-4a51-a513-8647dd093dae" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxCreditCarryforwards_506cb119-60a5-4651-a23c-a31373ba958a" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredTaxAssetsTaxCreditCarryforwards"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_ba00a0cd-b156-44c7-9ca0-3cec9f7dc2d6" xlink:to="loc_us-gaap_DeferredTaxAssetsTaxCreditCarryforwards_506cb119-60a5-4651-a23c-a31373ba958a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsOther_9be3cf6d-c1f5-4b5f-97e7-6df0ef227387" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredTaxAssetsOther"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_ba00a0cd-b156-44c7-9ca0-3cec9f7dc2d6" xlink:to="loc_us-gaap_DeferredTaxAssetsOther_9be3cf6d-c1f5-4b5f-97e7-6df0ef227387" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsInvestments_c03389f5-3fa4-4ea3-a4c4-41986f8487a9" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredTaxAssetsInvestments"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_ba00a0cd-b156-44c7-9ca0-3cec9f7dc2d6" xlink:to="loc_us-gaap_DeferredTaxAssetsInvestments_c03389f5-3fa4-4ea3-a4c4-41986f8487a9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsNet_81cde03b-65ed-4398-af14-1faf4779ce1d" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredTaxAssetsNet"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsGross_48ceacbd-0fc7-464d-92d5-d6891e7f8302" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredTaxAssetsGross"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsNet_81cde03b-65ed-4398-af14-1faf4779ce1d" xlink:to="loc_us-gaap_DeferredTaxAssetsGross_48ceacbd-0fc7-464d-92d5-d6891e7f8302" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsValuationAllowance_39b2587d-f305-470d-b963-fe1ec54de102" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredTaxAssetsValuationAllowance"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsNet_81cde03b-65ed-4398-af14-1faf4779ce1d" xlink:to="loc_us-gaap_DeferredTaxAssetsValuationAllowance_39b2587d-f305-470d-b963-fe1ec54de102" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilities_ccda6355-8f16-4036-85e2-d50c270fa462" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsGoodwill_85522ba8-aab7-4352-ae2c-dbe545d01f02" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsGoodwill"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_ccda6355-8f16-4036-85e2-d50c270fa462" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsGoodwill_85522ba8-aab7-4352-ae2c-dbe545d01f02" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet_274ad4eb-8913-465d-aaaa-484d83954ab0" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNet"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsNet_ca45cc28-3131-4480-bfe8-14310ea0aaae" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredTaxAssetsNet"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet_274ad4eb-8913-465d-aaaa-484d83954ab0" xlink:to="loc_us-gaap_DeferredTaxAssetsNet_ca45cc28-3131-4480-bfe8-14310ea0aaae" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilities_d030ffa9-f419-44c4-a3b6-9f5738267de0" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilities"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet_274ad4eb-8913-465d-aaaa-484d83954ab0" xlink:to="loc_us-gaap_DeferredIncomeTaxLiabilities_d030ffa9-f419-44c4-a3b6-9f5738267de0" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/NonControllingInterestsSummaryofOwnershipInterestDetails" xlink:type="simple" xlink:href="tw-20211231.xsd#NonControllingInterestsSummaryofOwnershipInterestDetails"/>
  <link:calculationLink xlink:role="http://www.tradeweb.com/role/NonControllingInterestsSummaryofOwnershipInterestDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_tw_MinorityInterestTotalOwnershipPercentage_cf91363a-99d8-4317-8f8f-ad9e95b94481" xlink:href="tw-20211231.xsd#tw_MinorityInterestTotalOwnershipPercentage"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_de586179-3a58-40df-b86b-f8fa340bb843" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_cf91363a-99d8-4317-8f8f-ad9e95b94481" xlink:to="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_de586179-3a58-40df-b86b-f8fa340bb843" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestOwnershipPercentageByParent_abddb3ae-1e07-4ad7-afaa-3183229e523d" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_cf91363a-99d8-4317-8f8f-ad9e95b94481" xlink:to="loc_us-gaap_MinorityInterestOwnershipPercentageByParent_abddb3ae-1e07-4ad7-afaa-3183229e523d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_MinorityInterestTotalNumberOfInterests_bca9f479-2780-4404-9192-2f5591b74dd8" xlink:href="tw-20211231.xsd#tw_MinorityInterestTotalNumberOfInterests"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_MinorityInterestNumberOfInterestsHeldByNoncontrollingOwners_99b87b80-1d53-48d7-a36d-3f97a5530575" xlink:href="tw-20211231.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_bca9f479-2780-4404-9192-2f5591b74dd8" xlink:to="loc_tw_MinorityInterestNumberOfInterestsHeldByNoncontrollingOwners_99b87b80-1d53-48d7-a36d-3f97a5530575" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_MinorityInterestNumberOfInterestsHeldByParent_4fdb10db-74f4-44d6-8048-0d6855b92ca8" xlink:href="tw-20211231.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_bca9f479-2780-4404-9192-2f5591b74dd8" xlink:to="loc_tw_MinorityInterestNumberOfInterestsHeldByParent_4fdb10db-74f4-44d6-8048-0d6855b92ca8" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/NonControllingInterestsSummaryofEquityChangesDuetoChangesinCorporationOwnershipDetails" xlink:type="simple" xlink:href="tw-20211231.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_3f0e0958-6716-4f5a-a267-17eeeda2a137" xlink:href="tw-20211231.xsd#tw_NetIncomeAttributableToParentAndTransfersToFromNoncontrollingInterest"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_TransfersFromToNoncontrollingInterests_ceae3dc4-024a-49ac-8a7f-00f85e6d4141" xlink:href="tw-20211231.xsd#tw_TransfersFromToNoncontrollingInterests"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_tw_NetIncomeAttributableToParentAndTransfersToFromNoncontrollingInterest_3f0e0958-6716-4f5a-a267-17eeeda2a137" xlink:to="loc_tw_TransfersFromToNoncontrollingInterests_ceae3dc4-024a-49ac-8a7f-00f85e6d4141" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss_7b65f5ef-6e98-43a2-97ef-5e1384684148" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NetIncomeLoss"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_tw_NetIncomeAttributableToParentAndTransfersToFromNoncontrollingInterest_3f0e0958-6716-4f5a-a267-17eeeda2a137" xlink:to="loc_us-gaap_NetIncomeLoss_7b65f5ef-6e98-43a2-97ef-5e1384684148" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_TransfersFromToNoncontrollingInterests_9345b711-fa41-493b-a1f5-46c35600cd73" xlink:href="tw-20211231.xsd#tw_TransfersFromToNoncontrollingInterests"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_1312b52a-6259-43fa-b44c-55f018471426" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_9345b711-fa41-493b-a1f5-46c35600cd73" xlink:to="loc_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_1312b52a-6259-43fa-b44c-55f018471426" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_TransfersFromToNoncontrollingInterestsAllocationOfEquityToNCIArisingFromReorganizationAndIPO_0539a3ce-0e8e-4326-a27b-de7e166ce174" xlink:href="tw-20211231.xsd#tw_TransfersFromToNoncontrollingInterestsAllocationOfEquityToNCIArisingFromReorganizationAndIPO"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_tw_TransfersFromToNoncontrollingInterests_9345b711-fa41-493b-a1f5-46c35600cd73" xlink:to="loc_tw_TransfersFromToNoncontrollingInterestsAllocationOfEquityToNCIArisingFromReorganizationAndIPO_0539a3ce-0e8e-4326-a27b-de7e166ce174" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/FairValueofFinancialInstrumentsFinancialInstrumentsMeasuredatFairValueDetails" xlink:type="simple" xlink:href="tw-20211231.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_FinancialLiabilitiesFairValueDisclosure_fe17f1d3-ec45-45da-b865-74871f075d0d" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FinancialLiabilitiesFairValueDisclosure"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DueToAffiliateCurrentAndNoncurrent_a062e9d5-a9b7-4e16-b093-bb1f7c9daaf9" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DueToAffiliateCurrentAndNoncurrent"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinancialLiabilitiesFairValueDisclosure_fe17f1d3-ec45-45da-b865-74871f075d0d" xlink:to="loc_us-gaap_DueToAffiliateCurrentAndNoncurrent_a062e9d5-a9b7-4e16-b093-bb1f7c9daaf9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsFairValueDisclosure_5aae88b2-67dc-4c5c-9e74-74bbe85cefb9" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AssetsFairValueDisclosure"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DueFromAffiliates_30460c43-73db-4139-87a1-11eef87531c0" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_5aae88b2-67dc-4c5c-9e74-74bbe85cefb9" xlink:to="loc_us-gaap_DueFromAffiliates_30460c43-73db-4139-87a1-11eef87531c0" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure_0599c61f-8c21-49ae-94bb-98605d12f75c" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_5aae88b2-67dc-4c5c-9e74-74bbe85cefb9" xlink:to="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure_0599c61f-8c21-49ae-94bb-98605d12f75c" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/FairValueofFinancialInstrumentsFinancialInstrumentsNotMeasuredatFairValueDetails" xlink:type="simple" xlink:href="tw-20211231.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_279a1fdd-ec8c-4633-9456-318576fcd9d9" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_Assets"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_RestrictedCashAndCashEquivalentsFairValueDisclosure_bd2d9540-ddc6-4a19-a3a0-dcf44edc901e" xlink:href="tw-20211231.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_279a1fdd-ec8c-4633-9456-318576fcd9d9" xlink:to="loc_tw_RestrictedCashAndCashEquivalentsFairValueDisclosure_bd2d9540-ddc6-4a19-a3a0-dcf44edc901e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReceivablesFromClearingOrganizations_cbfd54d5-dac3-42e4-84ce-9a801e8a333f" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_279a1fdd-ec8c-4633-9456-318576fcd9d9" xlink:to="loc_us-gaap_ReceivablesFromClearingOrganizations_cbfd54d5-dac3-42e4-84ce-9a801e8a333f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities_477f1369-043b-4560-9f0a-a9faab7478f6" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_279a1fdd-ec8c-4633-9456-318576fcd9d9" xlink:to="loc_us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities_477f1369-043b-4560-9f0a-a9faab7478f6" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_AccountReceivableExcludingReceivableFromBrokersAndDealersAndClearingOrganizationsNetOfAllowance_fad06efb-ed93-44c0-8ed5-0168cc38408d" xlink:href="tw-20211231.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_279a1fdd-ec8c-4633-9456-318576fcd9d9" xlink:to="loc_tw_AccountReceivableExcludingReceivableFromBrokersAndDealersAndClearingOrganizationsNetOfAllowance_fad06efb-ed93-44c0-8ed5-0168cc38408d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations_9e4cc9be-9bba-46c3-b994-bf0f171f2e06" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_279a1fdd-ec8c-4633-9456-318576fcd9d9" xlink:to="loc_us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations_9e4cc9be-9bba-46c3-b994-bf0f171f2e06" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Liabilities_2004b142-9d49-4936-b0f4-95786b551e62" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_Liabilities"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_PayablesToBrokerDealersAndClearingOrganizations_8a2f3a62-b6fa-4611-ba94-9f4387a52d8a" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.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_2004b142-9d49-4936-b0f4-95786b551e62" xlink:to="loc_srt_PayablesToBrokerDealersAndClearingOrganizations_8a2f3a62-b6fa-4611-ba94-9f4387a52d8a" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/EarningsPerShareBasicandDilutedEarningsPerShareDetails" xlink:type="simple" xlink:href="tw-20211231.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_379f26b1-a023-497f-8d67-3cd78afcfd3c" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_e7668a33-7d73-4db7-99a2-2016ea4f7640" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_379f26b1-a023-497f-8d67-3cd78afcfd3c" xlink:to="loc_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_e7668a33-7d73-4db7-99a2-2016ea4f7640" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_1d62e54c-0b06-4055-afda-f2f6e77949f5" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.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_379f26b1-a023-497f-8d67-3cd78afcfd3c" xlink:to="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_1d62e54c-0b06-4055-afda-f2f6e77949f5" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.tradeweb.com/role/RegulatoryCapitalRequirementsDetails" xlink:type="simple" xlink:href="tw-20211231.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_3b49e0c7-b0d2-4111-9729-947be42cdadb" xlink:href="tw-20211231.xsd#tw_RegulatoryCapital"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_ExcessRegulatoryCapital_80de6c98-74c1-48b5-830f-8675afc44ca3" xlink:href="tw-20211231.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_3b49e0c7-b0d2-4111-9729-947be42cdadb" xlink:to="loc_tw_ExcessRegulatoryCapital_80de6c98-74c1-48b5-830f-8675afc44ca3" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_RegulatoryCapitalRequirement_8f957f65-8210-4d68-a1f8-66efb0397160" xlink:href="tw-20211231.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_3b49e0c7-b0d2-4111-9729-947be42cdadb" xlink:to="loc_tw_RegulatoryCapitalRequirement_8f957f65-8210-4d68-a1f8-66efb0397160" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_NetCapitalUnderCommodityExchangeActComputation_c468e061-edec-4b83-844b-bcbedb438df0" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_NetCapitalUnderCommodityExchangeActComputation"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RequiredNetCapitalUnderCommodityExchangeAct1_d7aa31d8-9a16-4b43-92a3-406664f1a313" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.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_c468e061-edec-4b83-844b-bcbedb438df0" xlink:to="loc_srt_RequiredNetCapitalUnderCommodityExchangeAct1_d7aa31d8-9a16-4b43-92a3-406664f1a313" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_srt_NetCapitalExcessShortageUnderCommodityExchangeAct_7996951b-db3e-4402-932a-d8709ad2d336" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.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_c468e061-edec-4b83-844b-bcbedb438df0" xlink:to="loc_srt_NetCapitalExcessShortageUnderCommodityExchangeAct_7996951b-db3e-4402-932a-d8709ad2d336" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_LiquidFinancialAssets_93c29f4f-32fc-4058-ad7b-344c8d672922" xlink:href="tw-20211231.xsd#tw_LiquidFinancialAssets"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_RequiredLiquidFinancialAssets_09359f14-e8c3-4a72-9fd3-7eecb492f1b7" xlink:href="tw-20211231.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_93c29f4f-32fc-4058-ad7b-344c8d672922" xlink:to="loc_tw_RequiredLiquidFinancialAssets_09359f14-e8c3-4a72-9fd3-7eecb492f1b7" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_tw_ExcessLiquidFinancialAssets_0b5e35dd-3cd0-445a-afed-0f87a9e55cff" xlink:href="tw-20211231.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_93c29f4f-32fc-4058-ad7b-344c8d672922" xlink:to="loc_tw_ExcessLiquidFinancialAssets_0b5e35dd-3cd0-445a-afed-0f87a9e55cff" xlink:type="arc"/>
  </link:calculationLink>
</link:linkbase>
