Tradeweb Markets Inc. (NASDAQ:TW) Q3 2021 Earnings Conference Call October 28, 2021 9:30 AM ET Company Participants Ashley Serrao - Head, U.S. Corporate Development and IR Lee Olesky - Chief Executive Officer Billy Hult - President Bob Warshaw - Chief Financial Officer Sara Furber - Incoming Chief Financial Officer Conference Call Participants Kyle Voigt - KBW Michael Cyprys - Morgan Stanley Richard Repetto - Piper Sandler Alexander Kramm - UBS Alexander Blostein - Goldman Sachs Kenneth Worthington - JPM ...

(State of other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-38860 TRADEWEB MARKETS INC. (Exact name of registr ...

Financial Data and Key Metrics Changes - The company reported GAAP earnings per diluted share of $0.27, with adjusted net income per diluted share of $0.39, reflecting a strong performance [7][54]. - Gross revenues reached $261 million, up 23% year-on-year, and adjusted EBITDA margin expanded by 280 basis points to 50.6% [11][54]. - Average daily volume was $976 billion, an increase of nearly 26% year-over-year [50]. Business Line Data and Key Metrics Changes - U.S. Credit and global swaps were significant growth drivers, with credit revenues exceeding $72 million and swaps volumes growing by 23% [12][25][41]. - Cash rates revenues were strong due to healthy central bank issuance, while mortgage revenue growth was flat due to subdued volatility [14]. - Equities revenue growth was driven by European institutional ETFs, with average daily volume up 29% year-on-year [26]. Market Data and Key Metrics Changes - The company achieved record market share in swaps at 14.7% and in U.S. Treasuries at 16.5% [17][19]. - The electronic IG credit market share remained stable, while electronic high yield credit share showed notable strength [76]. Company Strategy and Development Direction - The company is focused on driving electronification and automation in trading, with ongoing investments in technology and potential M&A opportunities [75]. - The integration of the Nasdaq U.S. fixed income acquisition is proceeding as planned, aiming to enhance competition in the central limit order book space [22][75]. - The company is committed to innovating across products and protocols to capture market share in a low volatility environment [41][74]. Management's Comments on Operating Environment and Future Outlook - Management noted that the operating market remains subdued, with low credit volatility and low rates not supportive, but they are optimistic about long-term growth potential [74]. - The company is experiencing strong momentum in trading volumes, with overall volumes up double digits compared to July 2020 [76]. - Management emphasized the importance of having a diverse set of tools to adapt to various market conditions [120]. Other Important Information - The company ended the quarter with $680 million in cash and cash equivalents, and free cash flow reached $434 million for the trailing 12 months [69]. - The board declared a quarterly dividend of $0.08 per Class A and Class B share [70]. Q&A Session Summary Question: Insights on eSpeed acquisition and market share opportunities - Management expressed excitement about the eSpeed acquisition, highlighting strong client relationships and the potential for significant growth in the central limit order book space [82][84]. Question: Portfolio trading's impact on market share - Management confirmed that portfolio trading is a significant driver of credit market share, with ongoing innovations to enhance its effectiveness [91][95]. Question: Durability of credit trading in different environments - Management discussed the importance of having a variety of protocols to adapt to market volatility, emphasizing the need for continuous innovation [120][125]. Question: Capital management and M&A opportunities - Management highlighted the company's strong cash position and ongoing evaluation of M&A opportunities to enhance growth and market penetration [129].

"Tradeweb · · · ● ... ● · · · · · · · · · · . · · · 2Q21 EARNINGS CONFERENCE CALL . . . . . . . the former of the .. . . . . . . . . . . . ·· ·· ...... . ... . ·· ...... . . . . . . . . . . . . . . . . . ... ........ . . . . . . . . . . . . . . . . . . . . . . . . . . . the first and th · · · · . . . . . . . . . . . . . . . . . . . . ·· · · .. . . . the same of the same . . © 2021 Tradeweb Markets LLC. All rights reserved. . . . . ·· · · . JULY 29, 2021 Disclaimers Any forward-looking statement that we make ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-38860 Tradeweb Markets Inc. (Exact name of registrant as specified in its charter) _______________________________ ...

Tradeweb Markets Inc. (NASDAQ:TW) Q1 2021 Earnings Conference Call April 29, 2021 9:30 AM ET Company Participants Ashley Serrao - Managing Director, Head of US Corporate Development, and Global Investor Relations Lee Olesky - Chief Executive Officer Billy Hult - President Bob Warshaw - Chief Financial Officer Conference Call Participants Chris Harris - Wells Fargo Securities Ari Ghosh - Credit Suisse Rich Repetto - Piper Sandler Alex Blostein - Goldman Sachs Alex Kramm - UBS Ken Worthington - J.P. Morgan Mi ...

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Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-38860 Tradeweb Markets Inc. (Exact name of registrant as specified in its charter) ______________________________ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________ FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-38860 Tradeweb Markets Inc. (Exact name of registrant as specified in its charter) _____________________________________ Delaware (I.R.S. E ...

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