Tradeweb Markets Inc. Reports Third Quarter 2026 Financial Results

Tradeweb Markets Inc. (NASDAQ: TW) - Form 8-K Summary

Overview

On October 29, 2026, Tradeweb Markets Inc. filed a Current Report on Form 8-K under Item 2.02 (Results of Operations and Financial Condition), announcing its financial results for the third quarter ended September 30, 2026.

Key Financial Highlights (Q3 2026 vs. Q3 2025)

• Revenue: Total quarterly revenue reached $584.5 million, an increase of 14.9% (15.4% on a constant currency basis) compared to $508.6 million in Q3 2025.
  • Rates: $324.5 million (+18.2% YoY)
  • Credit: $133.0 million (+9.6% YoY)
  • Equities: $38.4 million (+28.8% YoY)
  • Money Markets: $44.2 million (+3.0% YoY)
  • Market Data: $36.9 million (+19.6% YoY)
• Trading Volume: Average Daily Volume (ADV) grew 22.4% YoY to $3.2 trillion.
• Operating Income: Increased 20.5% to $253.4 million from $210.4 million in the prior-year period.
• Net Income: GAAP net income was $224.9 million (+6.8% YoY); adjusted net income reached $238.8 million (+15.6% YoY).
• Earnings Per Share: Diluted EPS rose to $0.94 (compared to $0.86 in Q3 2025), while adjusted diluted EPS was $1.02.
• Adjusted EBITDA: Adjusted EBITDA reached $318.9 million with an adjusted EBITDA margin of 54.5%.
• Capital Return: The Board declared a quarterly cash dividend of $0.14 per share, a 16.7% increase compared to the prior-year period.

Strategic Developments

CEO Billy Hult highlighted the announced agreement to acquire Trumid, representing the largest acquisition in Tradeweb's history to accelerate credit trading protocols and institutional reach.