Business
Tradeweb Reports Fourth Quarter and Full Year 2019 Financial Results
FOURTH QUARTER 2019 Average daily volume (ADV) of $684.6 billion for the quarter increased 16.3% Record quarterly ADV in US high-grade and high-yield credit;
About this update from Tradeweb Markets Inc.
[{"type":"text","content":"\nFOURTH QUARTER 2019\n\n\n\nAverage daily volume (ADV) of $684.6 billion for the quarter increased 16.3%\n\n\nRecord quarterly ADV in US high-grade and high-yield credit; record market share for US high-grade TRACE volume of 15.8% and fully-electronic US high-grade TRACE volume of 7.3%\n\n\nRevenues of $197.3 million increased 10.5% (11.7% on a constant currency basis)\n\n\nNet income of $57.3 million for the quarter compared to $29.3 million for the prior year period\n\n\nAdjusted EBITDA margin of 46.9% for the quarter compared to 36.6% for the prior year period\n\n\nDeclared quarterly cash dividend of $0.08 per share\n\n\n\nFULL YEAR 2019\n\n\n\nRecord full year ADV of $725.4 billion increased 32.3%\n\n\nRecord full year ADV in US and European government bonds, mortgages, interest rate swaps, US high-grade and high-yield credit, credit derivatives, US and European ETFs, and repurchase agreements\n\n\nRecord revenues of $775.6 million increased 13.3% (15.1% on a constant currency basis)\n\n\nNet income of $173.0 million for the year\n\n\nAdjusted EBITDA margin of 45.5% for the year\n\n\n NEW YORK--(BUSINESS WIRE)--\nTradeweb 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 and full-year ended December 31, 2019.\n\n\nLee Olesky, Chief Executive Officer of Tradeweb Markets, said, “A strong fourth quarter contributed to another record year at Tradeweb. The resulting revenue growth, margin expansion and free cash flow generation underscore the power of Tradeweb’s model. Adoption of electronic trading is accelerating as market participants gain a deeper appreciation for the functionality, efficiencies, data and analytics it delivers. Record full-year average daily volume of $725 billion in 2019 demonstrates the extent to which innovation is driving Tradeweb’s growth within an expanding market. We’re excited about the opportunity ahead and remain focused on driving greater connectivity across the global markets and broad client network we serve.”\n\n\nFourth Quarter 2019 \n\n\nGross revenue increased 10.5% (11.7% on a constant currency basis) compared to the prior year period to $197.3 million for the fourth quarter of 2019. Net income increased 95.4% compared to the prior year period to $57.3 million for t...