Tradeweb Reports First Quarter 2019 Financial Results

| Tradeweb Markets
A new quarterly record for average daily volume of $646.6 billion

Record quarterly revenues of $186.8 million increased 10.2%
(12.6% on a constant currency basis)

Net income of $42.4 million

Adjusted EBITDA margin of 43.0%

Declared first quarterly cash dividend of $0.08 per share

NEW YORK – May 9, 2019 – Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today reported financial results for the quarter ended March 31, 2019.

Lee Olesky, Chief Executive Officer of Tradeweb Markets, said, “The global fixed income market is digitizing and, along with it, creating greater demand for electronic trading and market data. Tradeweb’s compelling performance in the first quarter of 2019 reflects our diversification across a number of growth markets. Client trading activity drove double-digit revenue increases in rates, credit, equities and money markets trading. Broader distribution drove growth in market data. We’re excited to recently make our debut as a public company and continue working in collaboration with clients during a time of such sweeping shifts in the markets.”

First Quarter Highlights

  • A new quarterly record for average daily volume (“ADV”) of $646.6 billion represented an increase of 21.0%
  • New quarterly records for ADV in numerous products, including U.S. Treasuries, TBA mortgage-backed securities, European interest rate swaps, U.S. high-grade credit, Chinese bonds and European ETFs
  • During the quarter, U.S. high-grade credit volume accounted for 11.2% of total TRACE volume
  • Double-digit increases in revenues from rates, credit, equities and money markets
  • Net income of $42.4 million and net income per diluted share of $0.19
  • Adjusted EBITDA margin of 43.0% for the quarter

Click here to view full press release.

 

TW 1Q19 Earnings UPDATE FINAL.pdf

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