Tradeweb Markets, a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, reported financial results for the fourth quarter and full year ended December 31, 2024.

$463.3 million quarterly revenues increased 25.2% (25.5% on a constant currency basis) compared to prior year period

$2.3 trillion average daily volume (“ADV”) for the quarter, an increase of 36.7% compared to prior year period; quarterly ADV records in U.S. government bonds, mortgages and global repurchase agreements; record 7.9% share of fully electronic U.S. high yield TRACE

$159.9 million net income and $181.2 million adjusted net income for the quarter, increases of 54.2% and 19.2% respectively from prior year period

52.8% adjusted EBITDA margin and $244.7 million adjusted EBITDA for the quarter, compared to 53.0% and $195.9 million respectively for prior year period

$0.66 diluted earnings per share (“Diluted EPS”) and $0.76 adjusted diluted earnings per share for the quarter

$0.12 per share quarterly cash dividend declared, a 20.0% per share increase from prior year period

Billy Hult, CEO of Tradeweb: “2024 was a banner year for Tradeweb, marking our 25th consecutive year of record annual revenues. This achievement reflects our commitment to growing our geographical footprint, entering new markets and client channels through organic and inorganic collaborations, and consistently delivering value to our clients.

The year culminated with a strong fourth quarter, driven in part by a favorable market environment that created additional tailwinds for our global business. Our strong performance in the fourth quarter was highlighted by ADV records across money markets and rates, as well as record share of fully electronic U.S. high yield TRACE.

We forged key partnerships in the fourth quarter, becoming the first strategic partner to Goldman Sachs for its GS DAP technology platform, and collaborating with the Tokyo Stock Exchange to provide institutional investors with better access to liquidity in Japanese ETFs.

What’s more, we celebrated major milestones, such as the 10-year anniversary of our U.S. Credit platform and five years since the launch of portfolio trading in European Credit.

We also continued to strengthen our global reach, appointing Enrico Bruni and Troy Dixon as Co-Heads of Global Markets in newly created leadership roles. As we close this remarkable year, I am energized by the opportunities ahead and look forward to collaborating with our clients to reach new heights in 2025.”

Click here to read the full news release.

Source: Tradeweb