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Tradeweb Reports Second Quarter 2019 Financial Results

| Tradeweb Markets

A new quarterly record for average daily volume of $753.8 billion

Record quarterly revenues of $190.5 million increased 11.4%
(13.2% on a constant currency basis)

Net income of $24.8 million

Adjusted EBITDA margin of 45.6%

Declared quarterly cash dividend of $0.08 per share

NEW YORK – August 8, 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 June 30, 2019.[1]

Lee Olesky, Chief Executive Officer of Tradeweb Markets, said, “Tradeweb’s strong, across-the-board performance during the second quarter reflects our continuous efforts to cultivate new markets and develop trading protocols that give clients greater choice in how they search and access liquidity. While we’ve made tremendous strides to date, significant opportunity remains to deliver products and services that enhance and streamline client trading strategies and workflows. Our constant experimentation and collaboration with clients to deliver new trading technologies is the engine that drives our growth.”

Second Quarter Highlights:

  • A new quarterly record for average daily volume (“ADV”) of $753.8 billion represented an increase of 39.6%
  • New quarterly records for ADV in interest rate swaps and mortgages
  • A new quarterly record for U.S. high-grade credit which accounted for 12.4% of TRACE volume
  • Double-digit, year-over-year increases in revenues from all four asset classes covering rates, credit, equities and money markets plus market data
  • Net income of $24.8 million, including net income attributable to Tradeweb Markets Inc. of $12.8 million and GAAP earnings per diluted share (“Diluted EPS”) of $0.09 for the quarter
  • Adjusted EBITDA margin of 45.6%, Adjusted Net Income of $56.6 million and Adjusted Net Income per diluted share (“Adjusted Diluted EPS”) of $0.25 for the quarter

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