Tradeweb Markets Inc., a global leader in electronic trading across asset classes, reported financial results for the quarter ended September 30, 2026.

$584.5 million quarterly revenues, an increase of 14.9% (15.4% on a constant currency basis) compared to prior year period

$258.5 million quarterly international revenues, an increase of 22.4% (23.8% on a constant current basis) compared to prior year period

$3.2 trillion average daily volume (“ADV”) for the quarter, an increase of 22.4% compared to prior year period; quarterly ADV records in municipal bonds

$224.9 million net income and $238.8 million adjusted net income for the quarter, increases of 6.8% and 15.6%, respectively, from prior year period

54.5% adjusted EBITDA margin and $318.9 million adjusted EBITDA for the quarter, compared to 54.0% and $274.4 million, respectively, for prior year period

$0.94 diluted earnings per share (“Diluted EPS”) and $1.02 adjusted diluted earnings per share for the quarter

$0.14 per share quarterly cash dividend declared, a 16.7% per share increase from prior year period

Billy Hult, CEO of Tradeweb: “Our third quarter 2026 revenue and volumes reflect the strength and breadth of our global, multi-asset platform, with average daily volume increasing 22.4% year-over-year. Against a backdrop of rising Treasury yields, shifting central bank policy and geopolitical uncertainty, we continued helping clients access liquidity and manage risk while investing in opportunities to drive our long-term growth.

Innovation was a constant across our core and frontier markets. We enhanced Tradeweb Ai-Price with more responsive corporate bond pricing, expanded our Saudi debt market offering, and reached new milestones in digital assets, including transactions involving tokenized U.S. Treasuries and fully on-chain repo. These developments underscore our focus on bringing new efficiencies to trading, settlement and collateral mobility.

In October, we announced our agreement to acquire Trumid, the largest acquisition in our history and a significant step forward in our credit strategy. We’ve always been builders of marketplaces, and this transaction reflects our belief in combining strategic acquisitions with organic innovation. By bringing together Trumid’s differentiated trading protocols and hedge fund relationships with our global reach and institutional network, we see significant opportunities to connect trading across the entire bond lifecycle, develop new solutions with our partners and accelerate innovation in global credit markets.

Our strategy remains focused on solving real challenges for clients, expanding our capabilities and investing in the future of electronic markets. We believe this approach positions Tradeweb to capture new opportunities and deliver sustainable, long-term growth across a range of market conditions.”

Click here to read the full Tradeweb Third Quarter 2026 Financial Results

Source: Tradeweb