Reports Q3 revenue $448.9M, consensus $462.76M.Billy Hult, CEO of Tradeweb: “We are pleased to report record quarterly revenues of $448.9 million, reflecting a 36.7% increase year-over-year. This strong growth was driven by record average daily volume ADV of $2.2T, up 55% compared to the same period last year. We achieved quarterly ADV records across rates, credit, and money markets, highlighting the success of our organic expansion efforts and the contributions from our recent acquisitions of ICD, r8fin, and Yieldbroker, which have strengthened our global business. Throughout the quarter, we worked closely with clients as they navigated a remarkable period of macroeconomic uncertainty and rates volatility. In Asia, we expanded our geographic presence into India with the appointment of a new country head. We also reinforced our global commitment to advancing ESG initiatives with the publication of our fourth annual Corporate Sustainability Report. Credit markets reached an important milestone in September, as electronic trading for the month accounted for 50% of total U.S. high grade TRACE volume for the first time. Looking ahead, we remain focused on identifying strategic growth opportunities and further expanding our presence across key markets.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TW:
- Tradeweb Markets price target lowered to $151 from $153 at TD Cowen
- Tradeweb Markets price target raised to $149 from $147 at Barclays
- Tradeweb Markets Reports Strong Q3 2024 Growth
- Tradeweb Markets reports Q3 EPS 75c, consensus 76c
- Tradeweb Markets price target raised to $155 from $133 at Morgan Stanley