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Tradeweb $ 260.8 million quarterly revenues increased 23.0 % ( 20.2 % on a constant currency basis ) compared to prior year period TRADEWEB REPORTS SECOND QUARTER 2021 FINANCIAL RESULTS New York , July 29 , 2021 - Tradeweb Markets Inc. ( Nasdaq : TW ) , a leading , global operator of electronic marketplaces for rates , credit , equities and money markets , today reported financial results for the quarter ended June 30 , 2021 . $ 976.9 billion average daily volume ( " ADV " ) for the quarter , an increase of 25.5 % compared to prior year period with new ADV records in U.S. High Yield credit and Repurchase Agreements . In U.S. credit , Tradeweb set new records for its share of fully electronic TRACE volume : High Grade was 12.1 % up from 5.8 % in the prior year period and High Yield was 4.8 % , up from 1.5 % over prior year period $ 66.2 million net income and $ 93.6 million adjusted net income for the quarter , increases of 56.2 % , and 32.9 % respectively from prior year period 50.6 % adjusted EBITDA margin or $ 131.9 million adjusted EBITDA for the quarter , compared to 47.8 % or $ 101.3 million respectively for prior year period $ 0.27 diluted earnings per share ( " Diluted EPS " ) for the quarter and $ 0.39 adjusted diluted earnings per share $ 0.08 per share quarterly cash dividend declared ; $ 51.7 million of shares repurchased SELECT FINANCIAL RESULTS 2Q21 2Q20 ( dollars in thousands except per share amounts ) ( Unaudited ) GAAP Financial Measures Total revenue Rates Credit Equities Money Markets Market Data Other Net income Net Income attributable to Tradeweb Markets Inc. ( 2 ) Diluted EPS Adjusted EBITDA ( 1 ) Adjusted EBIT ( 1 ) $ 260,840 $ 212,107 $ 134,003 $ 112,823 Adjusted Diluted EPS ( 1 ) $ 72,212 $ $ 17,397 LA LA LA LA LA $ 11,340 $ $ 20,007 $ 5,881 66,233 $ LA LA LA $ 49,105 15,407 10,539 18,497 5,736 42,408 Change 23.0 % 18.8 % 47.8 % 47.1 % 12.9 % 7.6 % 8.2 % 2.5 % 56.2 % 81.4 % 68.8 % 55,316 30,496 $ 0.27 $ 0.16 Non - GAAP Financial Measures $ 131,898 $ 101,309 30.2 % 27.7 50.6 % Adjusted EBITDA margin ( 1 ) FOU $ 120,271 90,521 Adjusted EBIT margin ( 1 ) 46.1 % Adjusted Net Income ( 1 ) $ 93,558 $ 70,383 $ 0.39 $ 0.30 Constant Currency Growth ( 1 ) 20.2 % 15.9 % 32.9 % 44.3 % 8.7 % 5.7 % 6.1 % 2.5 % od Investor Relations Ashley Serrao + 1 646 430 6027 Ashley.Serrao@Tradeweb.com % 280 bps 297 bps 30.2 % 42.7 % 343 bps 353 bps 32.9 % 30.2 % 30.0 % 30.0 % Lee Olesky , CEO of Tradeweb Markets : " Broadening client choice was an important theme this quarter in both credit and rates . Our clients utilized a wider range of electronic trading tools and protocols in credit including RFQ , Tradeweb All Trade and Portfolio Trading - further evidence that electronic trading activity continues to grow in terms of both volume and sophistication . With the acquisition of the Nasdaq Fixed Income platform completed in June , clients trading wholesale U.S. Treasuries have more choice between our popular streams protocol and the new central limit order book . From a broader Tradeweb perspective , this acquisition is a great opportunity and we believe it positions us well to drive additional shareholder value . " ADV ( US $ bn ) ( Unaudited ) Asset Class Rates Credit Equities Money Markets Media Relations Daniel Noonan + 1 646 767 4677 Daniel . Noonan@Tradeweb.com Product Cash Derivatives Total Cash Derivatives Total Cash Derivatives Total Cash Total Total 2Q21 319 $ 257 576 10 9 18 8 8 16 367 367 $ 977 $ $ 2Q20 298 209 507 8 10 18 6 4 10 244 244 778 YoY 7.2 % 22.7 % 13.6 % ( 2 ) Represents net income less net income attributable to non - controlling interests . 21.9 % ( 15.5 ) % 0.8 % 30.2 % 113.1 % 60.6 % 50.6 % 50.6 % 25.5 % ( 1 ) Adjusted EBITDA , Adjusted EBITDA margin , Adjusted EBIT , Adjusted EBIT margin , Adjusted Net Income , Adjusted Diluted EPS and constant currency growth are non - GAAP financial measures . See " Non - GAAP Financial Measures " below and the attached schedules for additional information and reconciliations of such non - GAAP financial measures .