Virtu Financial, Inc. (NASDAQ:VIRT) Q1 2023 Earnings Conference Call April 20, 2023 8:30 AM ET

Company Participants

Andrew Smith - Head, Investor Relations

Douglas Cifu - Chief Executive Officer

Sean Galvin - Chief Financial Officer

Joseph Molluso - Co-President and Co-Chief Operating Officer

Cindy Lee - Deputy Chief Financial Officer

Conference Call Participants

Rich Repetto - Piper Sandler

Alex Blostein - Goldman Sachs

Ken Worthington - JPMorgan

Chris Allen - Citi

Dan Fannon - Jefferies

Alex Kramm - UBS

Operator

Hello and welcome to the Virtu Financial First Quarter 2023 Results. My name is Elliot, and I'll be coordinating the call today. [Operator Instructions]

I would now like to hand over to Andrew Smith, Head of Investor Relations. The floor is yours. Please go ahead.

Andrew Smith

Thank you, Elliot, and good morning. Thank you -- thank you everyone for joining us. Our first quarter results were released this morning and are available on our website. With us today on this morning's call, we have Mr. Douglas Cifu, our Chief Executive Officer; Mr. Joseph Molluso, our Co-President and Co-Chief Operating Officer; Ms. Cindy Lee, our Deputy Chief Financial Officer; and Mr. Sean Galvin, our Chief Financial Officer. We will begin by -- we will begin with prepared remarks and then take your questions.

First, a few reminders. Today's call may include forward-looking statements, which represent Virtu's current belief regarding future events and are, therefore, subject to risks, assumptions and uncertainties, which may be outside the company's control. Please note that our actual results and financial conditions may differ materially from what is indicated in these forward-looking statements.

It is important to note that any forward-looking statements made on this call are based on information presently available to the company, and we do not undertake to update or revise any forward-looking statements as new information becomes available. We refer you to disclaimers in our press release and encourage you to review the description of risk factors contained in our annual report, Form 10-K and other public filings.

During today's call, in addition to GAAP measures, we may refer to certain non-GAAP measures, including adjusted net trading income, adjusted net income, adjusted EBITDA, adjusted EBITDA margin. These non-GAAP measures should be considered as supplemental to and not as superior to financial measures as reported in accordance with GAAP.

We direct listeners to consult the Investor portion of our website, where you'll find additional supplemental information referred to on this call as well as a reconciliation of non-GAAP measures to the equivalent GAAP term in the earnings materials with an explanation of why we deem this information to be meaningful, as well as how management use these measures.