Virtu Financial Inc
NASDAQ:VIRT

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Virtu Financial Inc
NASDAQ:VIRT
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Price: 32.6 USD -2.16% Market Closed
Market Cap: 5B USD

Virtu Financial Inc
Investor Relations

Virtu Financial Inc., a prominent player in the financial world, is renowned for its sophisticated approach to navigating the complex realm of electronic market making. Founded in 2008, during a time when financial markets were witnessing seismic changes, Virtu positioned itself at the cutting edge of technology and finance. The firm's prowess lies in its ability to leverage high-frequency trading, using sophisticated algorithms to buy and sell a wide array of securities across global markets almost instantaneously. These algorithms are crafted meticulously, allowing Virtu to swiftly capitalize on fleeting market opportunities, generating a steady profit by executing thousands of smaller trades with razor-thin margins. Essentially, Virtu acts as a liquidity provider; it bridges the gap between buyers and sellers and ensures smoother market functioning, which inadvertently benefits participants by offering more competitive prices.

The company's profitability does not solely hinge on exceptional trading speeds. Virtu has diversified its revenue streams by offering its technological expertise to other financial institutions, a testament to its towering reputation in the industry. Such services include risk management and trading analytics tools, appealing to clients who seek to optimize their trading practices. Moreover, reflecting on its heritage of adaptability, Virtu has expanded its operations to include asset classes beyond equities, such as commodities, currencies, and fixed incomes. While the underlying mechanics of its business are rooted in complex financial technologies and strategies, the critical takeaway is Virtu's ability to profit consistently through market-making efficiencies and its innovative approach to financial technology, making it a formidable entity in the contemporary financial services landscape.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Oct 29, 2025
AI Summary
Q3 2025

Strong Results: Virtu reported normalized adjusted EPS of $1.05 and adjusted net trading income (ANTI) of $467 million, or $7.4 million per day, with particular strength in global equities, crypto, currencies, and commodities.

Growth Focus: Management signaled a shift toward firm-wide growth, aiming to move daily trading income toward the higher end of their historical range ($6–$10 million per day) by investing in infrastructure, talent, and expanding the capital base.

Capital Deployment: Over $500 million in new trading capital was raised and deployed in 2025 through retained earnings and debt financing, with plans to accumulate more capital organically over time.

Reduced Buybacks: Share repurchases will be dialed back in favor of reinvesting capital into the business, though the dividend will be maintained.

Positive Operating Leverage: Management expects to maintain strong positive operating leverage as the business grows, with incremental revenue expected to come in at high margins.

Broad-Based Expansion: Growth initiatives are not limited to a few areas—Virtu aims to expand in existing and new asset classes, with particular attention to crypto, options, ETF block, and rates.

Hiring & Investment: The company is actively hiring developers, quants, and traders to support growth, and capital will be flexibly allocated based on market opportunities.

Key Financials
Normalized Adjusted EPS
$1.05
Adjusted Net Trading Income
$467 million
Adjusted Net Trading Income per Day
$7.4 million per day
Market Making Adjusted Net Trading Income
$344 million
Market Making Adjusted Net Trading Income per Day
$5.1 million per day
VES Adjusted Net Trading Income
$123 million
VES Adjusted Net Trading Income per Day
$1.9 million per day
Workflow and Analytics Business ANTI (Trailing 12-Month)
$137 million
New Trading Capital Raised in 2025
$500 million
Incremental Return on Capital
95%
Earnings Call Recording
Other Earnings Calls

Management

Mr. Douglas A. Cifu J.D.
Co-founder, CEO & Director
No Bio Available
Mr. Joseph A. Molluso
Co-President & Co-COO
No Bio Available
Mr. Vincent J. Viola
Founder & Chairman Emeritus
No Bio Available
Ms. Cindy Lee
Chief Financial Officer
No Bio Available
Mr. Aaron Simons
Executive VP & CTO
No Bio Available
Ms. Akiko Imai
Global Head of New Sales
No Bio Available
Mr. Kevin O'Connor
Head of Analytics & Workflow Solutions
No Bio Available
Mr. Jeffrey Lumby
Head of Virtu Capital Markets
No Bio Available
Mr. Joshua Feldman
Managing Director of Virtu Capital Markets
No Bio Available
Colm Mac Curtain
Head of Finance-EMEA
No Bio Available

Contacts

Address
NEW YORK
New York City
1633 Broadway, 165 Broadway
Contacts
+12124180100.0
www.virtu.com