Virtu Financial, Inc. · NYSE:VIRT
Virtu Financial — FIA Boca 2024 International Futures Industry Conference
15 slides from Virtu Financial's conference presentation, Mar 12, 2024
Slide 1: FIA Boca 2024 International Futures Industry Conference
Presentation Title in Title Case Presentation subtitle in sentence case Presenter Name Event name xx Month 201x © 201X Virtu Financial. All rights reserved. Not to be reproduced or retransmitted without permission. Compliance #XXXX-XXXX FIA Boca 2024 Int rna ional F tures I dustry Conference © 2024
Slide 2: Year-to-Date Market Update
Year-to-Date Market Update 2See endnotes at end of this supplement 2024 to date has been categorized by a modest increase in volumes and a continued decline in volatility • Virtu has seen increased opportunities in its key organic growth areas: o Elevated retail-oriented Rule 605 activity ▪ Compared
Slide 3: Major Market Metrics
Major Market Metrics 3See endnotes at end of this supplement FY FY FY QTD QTD v 2021 2022 2023 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q241 4Q23 Market Metrics (Average Daily) Volume Metrics US Equity Consolidated Volume (M shares) 10,924 11,404 11,874 11,035 12,880 12,585 10,899 11,174 11,784 10,756 10,442 11,168
Slide 4: Rule 605 Volume Update
Rule 605 Volume Update 4See endnotes at end of this supplement Opportunity implied by Rule 605 execution quality disclosure reports includes the dollar value of quoted spreads for covered orders - 200M 400M 600M 800M 1,000M 1,200M - $2M $4M $6M $8M $10M $12M $14M $16M $18M $20M Virtu 605 Volume and
Slide 5: Update on Share Buybacks
5 Update on Share Buybacks See endnotes at end of this supplement 1.4M 3.7M 7.1M 12.5M 16.1M 25.1M 26.8M 30.3M 32.3M 36.3M 38.5M 41.2M 43.6M 45.2M 0.8% 1.0% 2.7% 5.2% 5.6% 9.1% 10.0% 11.8% 12.9% 13.6% 14.8% 16.2% 17.4% 17.2% 0% 5% 10% 15% 20% - 10M 20M 30M 40M 50M 60M Cumulative Shares Repurchased t
Slide 6: Analysis at Various Levels of ANTI
6 Analysis at Various Levels of ANTI See endnotes at end of this supplement Reflects 4Q23 weighted average shares outstanding of 164M $5.00 M $1,255 $643 $612 49% $2.09 $50-$120 $6.00 M $1,506 $643 $863 57% $3.25 $120-$160 $7.00 M $1,757 $643 $1,114 63% $4.42 $160-$270 $8.00 M $2,008 $643 $1,365 68%
Slide 7: GAAP Reconciliations and Other Information
GAAP Reconciliations and Other Information
Slide 8: Key Financial Metrics
8 Key Financial Metrics See endnotes at end of this supplement FY FY FY FY FY'23 v 2020 2021 2022 2023 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 3Q'23 4Q'22 FY'22 Total Adjusted Net Trading Income1,2 $2,271 $1,910 $1,468 $1,211 $505 $357 $331 $274 $373 $279 $298 $261 Daily Average Adj. NTI 1,2 $9.0 $7.6 $5.8 $4.8 $8.
Slide 9: GAAP Income Statement
9 GAAP Income Statement See endnotes at end of this supplement FY FY FY FY FY FY 2018 20191 2020 2021 2022 2023 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Trading income, net $1,267 $912 $2,493 $2,105 $1,629 $1,301 $522 $396 $397 $313 $413 $306 $316 $267 Commissions, net and technology services 184 499 601 614 530 456
Slide 10: Adjusted EBITDA & Normalized Adjusted EPS
10 Adjusted Net Trading Income $975 $784 $669 $362 $456 $2,271 $724 Adjusted EBITDA & Normalized Adjusted EPS See endnotes at end of this supplement FY FY FY FY FY FY 2018 20191 2020 2021 2022 2023 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Adjusted Net Trading Income $1,020 $975 $2,271 $1,910 $1,468 $1,211 $505 $357
Slide 11: Adjusted Net Trading Income Reconciliation
11 Adjusted Net Trading Income Reconciliation Operating Segments See endnotes at end of this supplement 1Q 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023 2Q 2023 3Q 2023 4Q 2023 Trading income, net $522 $396 $397 $313 $413 $306 $316 $267 Commissions, net and technology services 155 136 121 118 121 110 110 114
Slide 12: Adjusted Operating Expense Reconciliation
12 Adjusted Operating Expense Reconciliation See endnotes at end of this supplement Adjusted Operating Expenses Reconciliation FY FY FY FY ($M) 2020 2021 2022 2023 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Employee compensation and payroll taxes $394 $376 $391 $394 $103 $99 $103 $86 $103 $96 $97 $98 (-) Cash Compensa
Slide 13: Disclaimer: Cautionary Statement Regarding Forward Looking Statements
13 Disclaimer Cautionary Statement Regarding Forward Looking Statements This presentation may contain “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements regarding Virtu Financial, Inc.’s (“Virtu’s”, the “Compan
Slide 14: End Notes
14 Slide 3 Major Market Metrics 1. QTD 1Q24 (Quarter-to-Date 1Q 2024) represents market activity through February 29, 2024. Note: # of trading days used in per day calculations: 253, 252, 251, 250, 62, 62, 64, 63, 62, 62, 63, 63, and 41 for FY 2020, FY 2021, FY 2022, FY 2023, 1Q 2022, 2Q 2022, 3Q 20
Slide 15: End Notes—continued
15 End Notes—continued Slide 9 GAAP Income Statement 1. ITG revenues and expenses included in financials beginning on March 1, 2019 close date. Slide 10 Adjusted EBITDA & Normalized Adjusted EPS 1. ITG revenues and expenses included in financials beginning on March 1, 2019 close date. 2. EBITDA Marg
Virtu Financial — FIA Boca 2024 International Futures Industry Conference on 6ix