Tradeweb Markets Reports Record Results in Q3 2024

Tradeweb Markets announced impressive financial results for the quarter ending September 30, 2024 (Q3).

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Tradeweb Markets announced impressive financial results for the quarter ending September 30, 2024 (Q3). The company achieved revenues of $448.9 million, marking a significant 36.7% increase compared to the same period last year, or 36.5% on a constant currency basis.

In addition to strong revenue growth, Tradeweb reported an average daily volume (ADV) of $2.2 trillion for the quarter, a remarkable 55.3% rise year-over-year. This quarterly ADV was due to record levels in several key areas, including U.S. government bonds, fully electronic U.S. high-yield credit, credit derivatives, and global repurchase agreements.

Tradeweb Markets Reports Record Results in Q3 2024

The company’s net income reached $130.2 million, reflecting a 16.7% increase from the prior year, while adjusted net income grew by 37.1% to $179.3 million. Tradeweb reported diluted earnings per share (EPS) of $0.53 and adjusted EPS of $0.75.

As part of its commitment to shareholder returns, Tradeweb’s Board of Directors declared a quarterly cash dividend of $0.10 per share.

Billy Hult, CEO of Tradeweb, expressed enthusiasm about the quarterly performance, stating, “We are happy to report record quarterly revenues of $448.9 million. This strong growth was due to a record ADV of $2.2 trillion, up 55% year-over-year. Our recent acquisitions of ICD, r8fin, and Yieldbroker have significantly strengthened our global business, allowing us to better serve our clients during a time of macroeconomic uncertainty.”

Looking ahead, Hult emphasized the company’s focus on strategic growth opportunities and expanding its presence in key markets, highlighting ongoing efforts to enhance environmental, social, and governance (ESG) initiatives. In September, electronic trading for U.S. high-grade credit reached a pivotal milestone, accounting for 50% of total TRACE volume for the first time.

With a strong commitment to enhancing client services and advancing ESG initiatives, Tradeweb is not only poised for continued success but also remains focused on expanding its footprint in key markets. As the company looks ahead, its proactive approach to identifying growth opportunities will likely further strengthen its competitive edge in the electronic trading landscape.

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