<p>Tradeweb Markets (Nasdaq: TW) published its financials for the third quarter of 2022, reporting $287.1 million in revenue, which is an increase of 8.2 percent. </p><p>The net income for the period came in at $81.6 million, while the adjusted figure stood at $106.5 million. The numbers were 24.9 percent and 13.1 percent, respectively, higher than the same <a href=”https://www.financemagnates.com/institutional-forex/tradeweb-sees-44-rise-in-volume-in-june-as-q2-ends-with-726trn/” target=”_blank”>quarter of the previous year</a>.</p><p>Between July and September, the adjusted EBITDA for the three months came in at $146.3 million with a margin of 51 percent. In the previous year’s third quarter, these two figures were at $132.9 million and 50.1 percent, respectively.</p><p>The diluted earnings per share came in at $0.33, with the adjusted figure at $0.45. The company’s board has declared a dividend of $0.08 per share for the quarter. In addition, it will repurchase $9 million worth of stocks.</p><p>Growing Trading Demand</p><p><a href=”https://www.financemagnates.com/tag/tradeweb/” target=”_blank”>Tradeweb</a> operates an electronic <a href=”https://www.financemagnates.com/terms/t/trading-platform/” target=”_blank” id=”f85800b2-ccf5-4f50-9e8e-780d32afc6f6_1″ class=”terms__main-term”>trading platform</a> offering instruments of rates, credit, <a href=”https://www.financemagnates.com/terms/e/equities/” target=”_blank” id=”d6e02698-4c6b-44dd-ab57-9ff12763325c_1″ class=”terms__secondary-term”>equities</a> and money markets. It recently partnered with FXall for building a <a href=”https://www.financemagnates.com/institutional-forex/fxall-tradeweb-markets-partner-to-build-hedging-overflow-solutions/” target=”_blank”>hedging overflow solution</a>.</p><p>Moreover, the latest quarter witnessed a significant increase in trading demand. The average daily volume (ADV) for the period came in at $1.1 trillion, which is an increase of 14 percent year-over-year. It was a record figure in the platform’s operational history.</p><p>“Tradeweb reported record third quarter revenues driven by strong trading volumes across asset classes and products,” said Lee Olesky, the Chairman and CEO of Tradeweb Markets.</p><p>“Despite challenging markets, we delivered double-digit revenue growth on a constant currency basis in rates, credit, equities, and money markets. Our clients leveraged a wide range of electronic tools and protocols to help advance their trading strategies as markets reflected concerns around inflation and geopolitical conflict.”</p><p>Olesky will retire as Tradeweb’s CEO by the end of this year. However, he will continue to remain as the Chairman.</p>
This article was written by Arnab Shome at www.financemagnates.com.
