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Sep 30, 2020
Virtu Financial Q3 2020 Earnings Report
Virtu Financial reported strong Q3 2020 results driven by heightened market volatility and strategic initiatives.
Key Takeaways
Virtu Financial reported a significant increase in total revenues, driven by the gain on the sale of MATCHNow and heightened market activity. Net income saw a substantial improvement compared to the previous year.
Total revenues increased by 71.6% to $656.1 million.
Trading income, net, increased by 100.5% to $441.3 million.
Net income totaled $199.7 million, a significant improvement from the prior year's net loss.
The company completed the sale of MATCHNow to Cboe Global Markets, Inc. for gross proceeds of $60.6 million, recording a gain of $58.6 million.
Virtu Financial
Virtu Financial
Forward Guidance
Virtu anticipates continued success and shareholder value enhancement, projecting strong performance into 2021.