Virtu Financial, Inc. (NASDAQ:VIRT) Q2 2022 Earnings Conference Call July 28, 2022 7:30 AM ET

Company Participants

Andrew Smith - Head, Investor Relations

Douglas Cifu - Chief Executive Officer

Cindy Lee - Deputy Chief Financial Officer

Conference Call Participants

Rich Repetto - Piper Sandler

Dan Fannon - Jefferies

Alex Kramm - UBS

Michael Cyprys - Morgan Stanley

Paul Gulberg - Bloomberg Intelligence

Operator

Hello. And welcome to the Virtu Financial 2022 Second Quarter Results Call. My name is Laura, and I will be operating your call today. There will be an opportunity for questions at the end of the presentation. [Operator Instructions]

I will now hand you over to your host, Andrew Smith, Head of Investor Relations for Virtu Financial to begin. Andrew, please go ahead.

Andrew Smith

Thank you, Laura, and good morning, everyone. Thanks for joining us. Our second 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; Ms. Cindy Lee, our Deputy CFO, speaking with you and they will begin with prepared remarks and 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 -- in addition to GAAP results, 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 will find supplemental information referred to on this call, as well as the 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 uses these measures.