September 23, 2017 5:10 PM ET

Capital Markets

Company Overview of Virtu Financial, Inc.

Company Overview

Virtu Financial, Inc., together with its subsidiaries, provides market making and liquidity services to the financial markets worldwide. The company offers a technology platform through which it provides quotations to buyers and sellers in equities, commodities, currencies, options, fixed income, and other securities on various exchanges, markets, and liquidity pools. Virtu Financial, Inc. was founded in 2008 and is headquartered in New York, New York.

900 Third Avenue

29th Floor

New York, NY 10022

United States

Founded in 2008

148 Employees

Phone:

212-418-0100

Key Executives for Virtu Financial, Inc.

CEO & Director
Age: 52
Total Annual Compensation: $1.0M
Founder & Chairman Emeritus
Age: 61
Executive VP & CFO
Age: 48
Total Annual Compensation: $1.3M
Compensation as of Fiscal Year 2016.

Virtu Financial, Inc. Key Developments

Virtu Financial, Inc. Announces Departure of Venu Palaparthi, Senior Vice President, Compliance, Regulatory and Government Affairs

On September 11, 2017, Virtu Financial, Inc. announced the departure of Venu Palaparthi, Senior Vice President, Compliance, Regulatory and Government Affairs, effective as of September 11, 2017. The terms of Mr. Palaparthi’s separation will be determined at a later date.

Virtu Financial, Inc. Declares Quarterly Dividend, Payable on September 15, 2017

The Virtu Financial, Inc. board of directors declared a quarterly cash dividend of $0.24 per share. This dividend is payable on September 15, 2017 to shareholders of record as of September 1, 2017.

Virtu Financial, Inc. Reports Un-Audited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017

Virtu Financial, Inc. reported un-audited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company’s total revenues decreased 16.8% to $144.9 million compared to $174.2 million for the same period in 2016. Trading income, net, decreased 18.2% to $136.2 million for this quarter, compared to $166.5 million for the same period in 2016. Net income available for common stockholders was $0.9 million or $0.01 per diluted share compared to $8.4 million or $0.21 per diluted share for the same period in 2016.  Adjusted net trading income decreased 27.7% to $74.0 million compared to $102.3 million for the same period in 2016. Adjusted EBITDA decreased 37.8% to $40.9 million compared to $65.8 million for the same period in 2016. Normalized adjusted net income decreased 45.9% to $17.8 million compared to $32.9 million for the same period in 2016. Normalized adjusted net income before income taxes was subject to corporation taxation, normalized adjusted EPS was $0.13 for this quarter and $0.24 for the same period in 2016. The company reported income before income taxes and non-controlling interest of $5.2 million compared to $44.4 million and normalized adjusted net income before income taxes of $27.6 million compared to $50.9 million for the last year. For the six months, the company’s total Revenue was $292.2 million compared to $366.8 million for the same period in 2016. Trading income, net, decreased 18.2% to $275.7 million compared to $352.8 million for the same period in 2016. Net income available for common stockholders was $5.5 million or $0.11 per diluted share compared to $18.7 million or $0.48 per diluted share for the same period in 2016.  Adjusted net trading income was $153.4 million compared to $219.6 million for the same period in 2016. Adjusted EBITDA was $88.6 million compared to $146.9 million for the same period in 2016. Normalized adjusted net income was $39.8 million or $0.28 per share compared to $75.6 million or $0.54 per share for the same period in 2016. The company reported income before income taxes and non-controlling interest of $29.0 million compared to $103.1 million and normalized adjusted net income before income taxes of $61.7 million compared to $117.2 million for the last year.

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