Ladies and gentlemen thank you for standing by and welcome to Virtu Financial 2019 Third Quarter Results Conference Call. [Operator Instructions] Thank you. I would now like to turn the conference over to your speaker today Andrew Smith Senior Vice President Head of Investor Relations and Corporate Strategy. Please go ahead sir.
Thank you, Jacqueline. Good morning everyone. As you know our third quarter results were released this morning and are available on our website. Today's call may include forward-looking statements which represent Virtu's current belief regarding future events and are therefore subject to risks assumptions and uncertainties which may be outside the company's control. Our actual results and financial condition may differ materially from what is indicated in these forward-looking statements. It is important to note that any forward-looking statements made on this call are based upon information presently available to the company. And we do not undertake to update or revise any forward-looking statements as new information becomes available. We refer you to disclaimers in our press release and encourage you to review the description of risk factors contained in our annual report and Form 10-K and other public filings. In addition to GAAP results we may refer to certain non-GAAP measures including adjusted net trading income adjusted net income adjusted EBITDA and adjusted EBITDA margin. Non-GAAP measures should be considered as supplemental to and not as superior to financial measures prepared in accordance with GAAP. Joined a reconciliation of these non-GAAP measures to the equivalent GAAP term in the earnings materials with an explanation of why we deem this information to be meaningful as well as how management uses these measures. When used on this call adjusted net trading income refers to our trading income net of all interest and dividend income and expense and all brokerage clearing and exchange rebates and/or fees. Speaking and answering your questions today are Mr. Douglas Cifu our Chief Executive Officer; and Mr. Alex Ioffe our Chief Financial Officer. They will begin with prepared remarks and then take your questions.
I'd like to turn the call over to Doug.
Good morning. Thank you, Andrew. Thank you also for joining us today. Today I'm very pleased to report our financial results for the third quarter of 2019. While the third quarter was punctuated with periods of volatility and uncertainty across the global markets on the whole the market environment was similar to the second quarter. Despite this backdrop both our Market Making and Execution service segments were able to capitalize on some episodic volatility and otherwise performed in line with our expectations. In short our results reflect our continued disciplined focus on achieving and executing on our strategic and sustainable growth initiatives across both our business segments. In my remarks today I will highlight the exciting progress we've made in the short eight months since we closed the ITG transaction on March 1 and discuss our strong performance in spite of the muted opportunity in the quarter. Looking first at the integration and
Senior Vice President Head of Investor Relations and Corporate Strategy
Chief Executive Officer
Executive Vice President and Chief Financial Officer
We are pleased that you like our content! Sign Up now to access premium content for free, a very limited time offer.
Welcome! Create your account
You are successfully registered!
An activation link has been sent to your mail. Please activate and login.