Financial Data and Key Metrics Changes - The company reported GAAP earnings per diluted share of $0.19, with adjusted net income per diluted share of $0.30, reflecting a year-over-year increase [6][52] - Gross revenues for Q3 2020 were $213 million, up 5.9% year-on-year on a reported basis and 4.7% on a constant currency basis [12][51] - Adjusted EBITDA margin expanded by 91 basis points to 47.4% compared to the previous year [12][52] Business Line Data and Key Metrics Changes - Credit business grew by 26.9%, while rates and money markets showed organic growth consistent with the previous year [16] - Cash rates achieved their second-highest revenue and volume quarter, driven by central bank issuance and refinancing activity [17] - Interest rate swaps volumes fell 36% year-on-year, but the company gained market share, reaching a record of 10.2% [18][31] Market Data and Key Metrics Changes - Total average daily volumes were $780 billion, down 4.5%, but up 5.4% when excluding short tenure swaps [50] - Market data revenue increased by 10% year-over-year, led by Refinitiv and proprietary data products [51] - The company derived approximately 36% of revenues from international customers, with 30% of revenue denominated in currencies other than dollars [51] Company Strategy and Development Direction - The company remains focused on capitalizing on secular tailwinds to drive revenue growth and margin expansion [11] - Continued investment in technology and innovation is emphasized, with new initiatives in specified pool platforms and electronic access to the China interbank bond market [13][14] - The company is evaluating potential M&A opportunities to augment growth as cash builds on the balance sheet [68] Management's Comments on Operating Environment and Future Outlook - Management acknowledged macro challenges but highlighted encouraging secular growth across various asset classes [9][10] - The company is optimistic about future growth, particularly in the rates business, despite current low volatility [92] - Management noted that October is trending towards double-digit revenue growth compared to the previous year [114] Other Important Information - The company ended Q3 with $677 million in cash and cash equivalents, with free cash flow reaching $280 million for the trailing 12 months [62] - Capital expenditures for the quarter were $10.2 million, with expectations for full-year CapEx in the range of $45 million to $50 million [63][64] Q&A Session Summary Question: Discussion on structural deal wins and new initiatives in the rates business - Management highlighted the ongoing electrification of products and the diversity of offerings as key growth drivers, despite macro challenges [73][79] Question: Impact of recent revenue growth slowdown on growth opportunities - Management noted that while there are periods of slowdown, the diversity of the business allows for growth in different sectors, particularly in credit [89][90] Question: Update on portfolio trading and net spotting - Management expressed confidence in the growth of portfolio trading and net spotting, emphasizing their alignment with current market needs [100][102] Question: Correlation between MBS prepayments and trading volume - Management indicated strong connections with the originator community and confidence in the specified pool platform's future success [110][111] Question: October performance by asset class - Management reported that October is trending towards double-digit revenue growth, with strong performance in credit and government bonds [114]

Tradeweb Markets Inc. (NASDAQ:TW) Q2 2020 Earnings Conference Call July 30, 2020 9:00 AM ET Company Participants Ashley Serrao - Head of U.S. Corporate Development and Investor Relations Lee Olesky - Chief Executive Officer William Hult - President Robert Warshaw - Chief Financial Officer Conference Call Participants Richard Repetto - Piper Sandler & Co. Arinash Ghosh - Crédit Suisse AG Alexander Kramm - UBS Investment Bank Christopher Harris - Wells Fargo Securities, LLC Michael Carrier - Bank of America M ...

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, 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) _______________________________ ...

* Tradeweb 2Q20 EARNINGS CONFERENCE CALL JULY 30, 2020 © 2020 Tradeweb Markets LLC. All rights reserved. · · · ● ... ● · · · · · · · · · · . . . . . . . . . . . t of the see the .. . . . . . . . . . . . . ·· ·· ...... . ... . ·· ...... . . . . . . . . . . . . . . . . . ... ........ . . . . . . . . . . . . . . . . . . . . . . . . . . . the first and th · · · · . . . . . · · · · · .. . . . the same of the same . . . . . . ·· · · . Disclaimers The information in this presentation is current only as of its date ...

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, 2020 Commission File Number: 001-38860 Tradeweb Markets Inc. (Exact name of registrant as specified in its charter) Delaware 83-2456358 (State of other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 1177 Avenue of the Americas New York, New Yor ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (646) 430-6000 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 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 83-2456358 (State of other jurisdiction of incorpor ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (I.R.S. Employer Identification No.) 1177 Avenue of the Americas New York, New York 10036 (Address of principal executive offices) (Zip Code) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-38860 Tr ...

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, 2019 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 83-2456358 (State of other jurisdiction of incorporation or org ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 or o 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) (State of other jurisdiction of incorporation or organization) (I.R.S. ...