Virtu Financial, Inc. (NASDAQ:VIRT) Q4 2022 Earnings Conference Call January 26, 2023 7:30 AM ET

Company Participants

Andrew Smith - Head, Investor Relations

Douglas Cifu - Chief Executive Officer

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

Cindy Lee - Deputy Chief Financial Officer

Conference Call Participants

Rich Repetto - Piper Sandler

Chris Allen - Citi

Alex Kramm - UBS

Dan Fannon - Jefferies

Ken Worthington - JPMorgan

Michael Cyprys - Morgan Stanley

Operator

Ladies and gentlemen, welcome to the Virtu Financial 2022 Fourth Quarter Results Call. My name is Glenn, and I'll be the moderator for today's call. [Operator Instructions]

I will now hand you over to your host, Andrew Smith, Head of Investor Relationship. Andrew, please go ahead.

Andrew Smith

Thank you, Glenn, and good morning, everyone. Thank you for joining us. Our fourth quarter results were released this morning and are available on our website. 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; and Ms. Cindy Lee, our Deputy Chief Financial Officer. 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 and 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 exhibition of why this information – why management deems this information to be meaningful, as well as how manage – as well as how we use these measures.