Good morning, and welcome to Tradeweb's Second Quarter 2020 Earnings Conference Call. As a reminder, today's call is being recorded and will be available for playback.
To begin, I'll turn the call over to Head of US Corporate Development and Investor Relations, Ashley Serrao. Please go ahead.
Thank you, and good morning. Joining me today for the call are our CEO, Lee Olesky, who will review the highlights for the quarter and provide a business update; our President, Billy Hult, who will dive a little deeper into some growth initiatives; and Bob Warshaw, our CFO, who will review our financial results. Our second quarter earnings release, prepared remarks and accompanying presentation are available on the Investor Relations portion of our website.
I'd like to remind you that certain statements in this presentation and during Q&A may relate to future events and expectations and as such, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements related to, among other things, our guidance, including full year 2020 guidance, and the COVID-19 pandemic, the potential impacts of which are inherently uncertain, are forward-looking statements.
Actual results may differ materially from these forward-looking statements. Information concerning factors that could cause results to differ from forward-looking statements is contained in our earnings release and periodic reports filed with the SEC. In addition, on today's call, we will reference certain non-GAAP measures. Information regarding these non-GAAP measures, including reconciliations to GAAP measures, are in our posted earnings release and presentation. Lastly, we provide certain market and industry data, which is based on management's estimates and various industry sources. See our posted earnings presentation for more details.
To recap, this morning, we reported GAAP earnings per diluted share of $0.16. Excluding certain non-cash stock-based compensation expense, acquisition and Refinitiv-related D&A and certain FX items and assuming an effective tax rate of 22%, we reported adjusted net income per diluted share of $0.30. Please see the earnings release and the Form 10-Q to be filed with the SEC for additional information regarding the presentation of our historical results.
Well, let me turn the call over to Lee.
Thanks, Ashley. Good morning, everyone, and thank you all for joining our second quarter earnings call. The world remains an uncertain place, and we remain appreciative of all the efforts that are being made to combat this virus and restore the economy. We also recognize the various efforts both by our employees and external organizations to promote equality. On the business front, the second quarter saw broader market stabilization that began at the tail end of March.
At Tradeweb, we continue to operate remotely, focusing on engaging with our clients and innovating to develop new solutions. The quality and frequency of collaboration with clients has increased along with their willingness to look at the entire Tradeweb product suite proactively as this pandemic forced them to reassess their electronic strategies. We remain excited by the opportunity ahead of us and remain committed to driving revenue growth
Head of U.S. Corporate Development and Investor Relations
Chief Executive Officer
Chief Financial Officer
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