Virtu Financial, Inc. (NASDAQ:VIRT) Q1 2022 Results Conference Call April 28, 2022 7:30 AM ET

Company Participants

Andrew Smith - Head, IR

Douglas Cifu - CEO

Joseph Molluso - Co-President and Co-COO

Sean Galvin - CFO

Conference Call Participants

Richard Repetto - Piper Sandler

Alex Blostein - Goldman Sachs

Ken Worthington - JP Morgan

Alex Kramm - UBS Investment Bank

Dan Fannon - Jefferies

Sean Horgan - Rosenblatt

Chris Allen - Compass Point

Michael Cyprys - Morgan Stanley

Operator

Good day, all, and thank you for joining the Virtu Financial 2022 First Quarter Results Call. My name is Louisa and I’ll be operating your call today. [Operator Instructions]

I now have the pleasure of handing over to your host today, Andrew Smith, Head of Investor Relations. Andrew, please go ahead.

Andrew Smith

Thank you, Louisa, and good morning, everyone. Thanks for joining us. Our first 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 Mr. Sean Galvin, our Chief Financial Officer. They 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 condition may differ materially from what is indicated in those 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 releases and encourage you to review the description of risk factors contained in our annual report and Form 10-K and other public filings. During today’s call, 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 superior to financial measures prepared in accordance with GAAP. We direct listeners to consult the Investor portion of our website where you’ll find supplemental information referred to on this call as well as a reconciliation of non-GAAP measures to the equivalent GAAP terms in the earnings materials with an explanation of why we deem this information to be meaningful as well as how management uses these measures.