Tradeweb Markets Inc. (NASDAQ:TW) Q3 2024 Earnings Conference Call October 30, 2024 9:30 AM ET

Company Participants

Ashley Serrao - Head of Treasury, FP&A and Investor Relations
Billy Hult - CEO
Sara Furber - CFO

Conference Call Participants

Chris Allen - Citi
Bill Katz - TD Cowen
Richard Fellinger - Autonomous
Alex Blostein - Goldman Sachs
Michael Cyprys - Morgan Stanley
Dan Fannon - Jefferies LLC
Kyle Voigt - KBW
Patrick Moley - Piper Sandler
Benjamin Budish - Barclays
Ken Worthington - JP Morgan
Alex Kramm - UBS

Operator

Good morning. And welcome to Tradeweb's Third Quarter 2024 Earnings Conference Call. As a reminder, today’s call is being recorded and will be available for playback.

To begin, I'll turn the call over to Head of Treasury, FP&A and Investor Relations, Ashley Serrao. Please go ahead.

Ashley Serrao

Thank you, and good morning. Joining me today for the call are our, CEO, Billy Hult, who will review our business results and key growth initiatives and our CFO, Sara Furber, who will review our financial results. We intend to use the website as a means of disclosing material non-public information and complying with our disclosure obligations under Regulation FD.

I would remind you that certain statements in this presentation and during the Q&A may relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements related to among other things, our guidance are forward-looking statements. Actual results may differ materially from these forward-looking statements. Information concerning factors that could cause actual results to differ from forward-looking statements is contained in our earnings release, earnings presentation and periodic reports filed with the SEC.

In addition, on today's call we will reference certain non-GAAP measures as well as certain market industry data. Information regarding these non-GAAP measures including reconciliations to GAAP measures is in our earnings release and earnings presentation. Information regarding market and industry data including sources is in our earnings presentation.

Now let me turn the call over to Billy.

Billy Hult

Thanks, Ashley. Good morning, everyone and thank you for joining our third quarter earnings call. This was another record quarter with revenue surpassing our previous best by nearly 10% to approach almost $450 million in revenue. Stepping back, the themes driving our results over the last few years remain unchanged.

First, we continue to drive our market share higher in many of our markets as we collaborate with our clients to electronify and change behavior, be it our flagship swaps, surging U.S. credit or rapidly expanding EM offerings. Second, we continue to capitalise on the trend of multi-asset class trading. Almost 50% of our revenue growth continues to be generated away from our cornerstone rates business. And third, we continue to accelerate growth with targeted acquisitions and strong execution.