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NEW YORK, June 03, 2020 (GLOBE NEWSWIRE) — Virtu Financial, Inc. (NASDAQ: VIRT), a arch provider of banking casework and articles that leverages acid bend technology to bear innovative, cellophane trading solutions to its audience and clamminess to the all-around markets today appear basic estimates of its top band after-effects for added division to date through May 31, 2020.



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Results for the added division 2020 are accustomed to be appear in aboriginal August.

On a basic estimated basis, Virtu expects its after-effects of operations for the two months concluded May 31, 2020 to reflect:



o Trading Income, net amid $460 and $474 million; Adapted Net Trading Income* amid $425 and $440 actor o Average Daily Adapted Net Trading Income* amid $10.37 and $10.73 actor per day



* Non-GAAP banking measures. Please see “Non-GAAP Banking Measures and Added Items” for added information.

The basic banking and added abstracts set alternating aloft has been able by, and is the albatross of our management. The above advice and estimates accept not been aggregate or advised by our absolute registered accessible accounting close nor accept our absolute registered accessible accounting close performed any procedures with account to this advice or bidding any assessment or any anatomy of affirmation of such information. In addition, the above advice and estimates are accountable to afterlight as we adapt our circumscribed banking statements and added disclosures as of and for the three months concluded June 30, 2020, including all disclosures appropriate by U.S. GAAP. Because we accept not completed our accustomed annual closing and assay procedures for the two months concluded May 31, 2020, and consecutive contest may action that crave absolute adjustments to these results, the final after-effects and added disclosures for this aeon may alter materially from these estimates. These estimates should not be beheld as a acting for abounding banking statements able in accordance with U.S. GAAP or as a admeasurement of performance. In addition, these estimated after-effects of operations for the two months concluded May 31, 2020 are not necessarily apocalyptic of the after-effects to be accomplished for any approaching period. See “Cautionary Note Apropos Advanced Statements.” These estimated after-effects of operations should be apprehend calm with consecutive filings and announcements, including any consecutive columnist absolution announcement the Company’s balance for the division concluded June 30, 2020 and our audited circumscribed banking statements and accompanying addendum to be filed on Anatomy 10-Q on or afore August 7, 2020.

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Non-GAAP Banking Measures and Added Items

To supplement our unaudited abridged circumscribed banking statements presented in accordance with about accustomed accounting attempt (“GAAP”), we use the afterward non-GAAP measures of banking performance:

— “Adjusted Net Trading Income”, which is the bulk of acquirement we accomplish from our bazaar authoritative activities, or trading income, net, added commissions, net and technology services, added absorption and assets assets and expense, net, beneath absolute costs associated with those revenues, including brokerage, barter and approval fees, net and payments for adjustment flow. Administration believes that this altitude is advantageous for comparing accepted operating achievement from aeon to period. Although we use Adapted Net Trading Assets as a banking admeasurement to appraise the achievement of our business, the use of Adapted Net Trading Assets is bound because it does not accommodate assertive absolute costs that are all-important to accomplish our business. Our presentation of Adapted Net Trading Assets should not be construed as an adumbration that our approaching after-effects will be artless by revenues or costs that are not anon associated with our bazaar authoritative activities.

Adjusted Net Trading Assets is a non-GAAP banking admeasurement acclimated by administration in evaluating operating achievement and in authoritative cardinal decisions. Administration believes that the presentation of Adapted Net Trading Assets provides advantageous advice to investors apropos our after-effects of operations because they abetment both investors and administration in allegory and benchmarking the achievement and amount of our business. Adapted Net Trading Assets provides indicators of accepted bread-and-butter achievement that are not afflicted by fluctuations in assertive costs or added items. Accordingly, administration believes that this altitude is advantageous for comparing accepted operating achievement from aeon to period. Added companies may ascertain Adapted Net Trading Assets differently, and as a aftereffect our measures of Adapted Net Trading Assets may not be anon commensurable to those of added companies. Although we use this non-GAAP banking admeasurement as a banking admeasurement to appraise the achievement of our business, such use is bound because it does not accommodate assertive absolute costs all-important to accomplish our business.

Adjusted Net Trading Assets should be advised in accession to, and not as a acting for, Net Assets in accordance with U.S. GAAP as a admeasurement of performance. Our presentation of Adapted Net Trading Assets should not be construed as an adumbration that our approaching after-effects will be artless by abnormal or nonrecurring items. Adapted Net Trading Assets has limitations as analytic tools, and you should not accede them in abreast or as substitutes for assay of our after-effects as appear beneath U.S. GAAP. Some of these limitations are:

— they do not reflect every banknote expenditure, approaching requirements for basic expenditures or acknowledged commitments; — they are not adapted for all non-cash assets or amount items that are reflected in our statements of banknote flows; — they do not reflect the appulse of balance or accuse consistent from affairs we accede not to be apocalyptic of our advancing operations; and — they do not reflect limitations on our costs accompanying to appointment balance from our subsidiaries to us.

Because of these limitations, Adapted Net Trading Assets is not advised as alternatives to Net Assets as indicators of our operating achievement and should not be advised as measures of arbitrary banknote accessible to us to advance in the advance of our business or as measures of banknote that will be accessible to us to accommodated our obligations. We atone for these limitations by application Adapted Net Trading Assets forth with added allusive tools, calm with U.S. GAAP measurements, to abetment in the appraisal of operating performance. These U.S. GAAP abstracts accommodate Net Income, banknote flows from operations and banknote breeze data. See beneath a adaptation of anniversary non-GAAP admeasurement to the best anon commensurable GAAP measure.

Virtu Financial, Inc. and SubsidiariesReconciliation to Non-GAAP Operating Abstracts (Unaudited)

The afterward table reconciles estimated Trading Income, net and Adapted Net Trading Assets for the two months concluded May 31, 2020.

(in thousands, except percentages) Apr – May 2020 Ambit —————- Adaptation of Trading income, net to Adapted Net Trading Assets Trading income, net $ 460 – 474 Commissions, net and technology casework 88 – 93 Absorption and assets assets 6 – 9 Brokerage, barter and approval fees, net (54 ) – (58 ) Payments for adjustment breeze (60 ) – (60 ) Absorption and assets amount (14 ) – (17 ) – — – – — – Adapted Net Trading Assets $ 425 – 440 – — – – — –

About Virtu Financial, Inc.

Virtu is a arch banking casework close that leverages cutting-edge technology to accommodate beheading casework and data, analytics and connectivity articles to its audience and bear clamminess to the all-around markets. Leveraging its all-around bazaar authoritative adeptness and infrastructure, Virtu provides a able-bodied artefact apartment including offerings in execution, clamminess sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology. Virtu’s artefact offerings acquiesce audience to barter on hundreds of venues beyond 50 countries and in assorted asset classes, including all-around equities, ETFs, adopted exchange, futures, anchored assets and countless added commodities. In addition, Virtu’s integrated, multi-asset analytics belvedere provides a ambit of pre and post-trade services, abstracts articles and acquiescence accoutrement that audience await aloft to invest, barter and administer accident beyond all-around markets.

Cautionary Note Apropos Forward-Looking Statements This columnist absolution may accommodate “forward-looking statements” fabricated pursuant to the safe anchorage accoutrement of the Private Balance Litigation Reform Act of 1995. Statements apropos Virtu Financial, Inc.’s (“Virtu’s”, the “Company’s” or “our”) business that are not absolute facts are advanced statements. Advanced statements should not be apprehend as a agreement of approaching achievement or results, and will not necessarily be authentic break of the times at, or by which, such achievement or after-effects will be achieved. The Company assumes no obligation to amend advanced statements to reflect absolute results, changes in assumptions or changes in added factors affecting advanced information, and if the Company does amend one or added advanced statements, no inference should be fatigued that the Company will accomplish added updates with account thereto or with account to added advanced statements. Advanced statements are based on advice accessible at the time and/or management’s acceptable acceptance acceptance with account to approaching events, and is accountable to risks and uncertainties, some or all of which are not advancing or aural Virtu’s control, that could account absolute achievement or after-effects to alter materially from those bidding in the statements. Those risks and uncertainties include, after limitation: fluctuations in trading aggregate and volatilities in the markets in which we operate; the adeptness of our trading counterparties and assorted allowance houses to accomplish their obligations to us; the achievement and believability of our customized trading platform; the accident of absolute trading losses from our bazaar authoritative activities; swings in valuations in balance or added instruments in which we authority positions; accretion antagonism and alliance in our industry; the aftereffect of the accretion of Investment Technology Group, Inc. (“ITG”) on absolute business relationships, operating results, and advancing business operations generally; the cogent costs and cogent acknowledgment that we accept incurred and apprehend to acquire in affiliation with the accretion of ITG; the accident that we may appointment cogent difficulties or delays in amalgam the two businesses and the advancing benefits, amount accumulation and synergies or basic absolution may not be achieved; the acceptance of abeyant liabilities apropos to ITG’s business; the accident that banknote breeze from our operations and added accessible sources of clamminess will not be acceptable to armamentarium our assorted advancing obligations, including operating expenses, basic expenditures, debt account and allotment payments; authoritative and acknowledged uncertainties and abeyant changes associated with our industry, decidedly in ablaze of added absorption from media, regulators and assembly to bazaar anatomy and accompanying issues; abeyant adverse after-effects from acknowledged or authoritative proceedings; our adeptness to abide technologically aggressive and to ensure that the technology we advance is not accessible to aegis risks, hacking and cyber-attacks; and risks associated with third affair software and technology infrastructure. For a altercation of the risks and uncertainties which could account absolute after-effects to alter from those independent in advanced statements, see Virtu’s Balance and Barter Commission (“SEC”) filings, including but not bound to Virtu’s Annual Report on Anatomy 10-K, Annual Reports on Anatomy 10-Q and Current Reports on Anatomy 8-K filed with the SEC.

Contact:

Investor Relations Media Relations Deborah Belevan, IRC, CPA Andrew Smith [email protected] [email protected]

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Last Updated: June 8th, 2020 by admin
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