Earnings summaries and quarterly performance for Tradeweb Markets.
Executive leadership at Tradeweb Markets.
Billy Hult
Detailed
Chief Executive Officer
CEO
AC
Amy Clack
Detailed
Chief Administrative Officer
DF
Douglas Friedman
Detailed
General Counsel and Secretary
EB
Enrico Bruni
Detailed
Managing Director, Co-Head of Global Markets
JP
Justin Peterson
Detailed
Chief Technology Officer
SF
Sara Furber
Detailed
Chief Financial Officer
SZ
Scott Zucker
Detailed
Chief Risk Officer
TD
Troy Dixon
Detailed
Managing Director, Co-Head of Global Markets
Board of directors at Tradeweb Markets.
BB
Balbir Bakhshi
Detailed
Director
CJ
Catherine Johnson
Detailed
Director
DM
Daniel Maguire
Detailed
Director
JA
Jacques Aigrain
Detailed
Chairperson of the Board
LO
Lisa Opoku
Detailed
Director
PM
Paula Madoff
Detailed
Lead Independent Director
RY
Rana Yared
Detailed
Director
RR
Rich Repetto
Detailed
Director
SG
Scott Ganeles
Detailed
Director
SB
Steven Berns
Detailed
Director
Research analysts who have asked questions during Tradeweb Markets earnings calls.
Alexander Blostein
Goldman Sachs
6 questions for TW
Also covers: AB, AMG, AMP +31 more
AK
Alex Kramm
UBS Group AG
5 questions for TW
Also covers: BR, CBOE, CBRE +16 more
PM
Patrick Moley
Piper Sandler & Co.
5 questions for TW
Also covers: BGC, CBOE, CME +17 more
CA
Christopher Allen
Citigroup
4 questions for TW
Also covers: CBOE, CME, ETOR +9 more
Craig Siegenthaler
Bank of America
4 questions for TW
Also covers: AB, AMP, AMTD +26 more
Benjamin Budish
Barclays PLC
3 questions for TW
Also covers: AB, APO, ARES +24 more
DF
Daniel Fannon
Jefferies Financial Group Inc.
3 questions for TW
Also covers: AB, AMG, AMTD +28 more
KW
Kenneth Worthington
JPMorgan Chase & Co.
3 questions for TW
Also covers: APO, ARES, BAM +27 more
Michael Cyprys
Morgan Stanley
3 questions for TW
Also covers: AAMI, AMP, AMTD +30 more
BH
Bradley Hayes
TD Cowen Inc.
2 questions for TW
JS
Jeffrey Schmitt
William Blair
2 questions for TW
Also covers: AIZ, AMP, CBOE +8 more
KW
Ken Worthington
JPMorgan
2 questions for TW
Also covers: APO, ARES, BLK +15 more
Kyle Voigt
Keefe, Bruyette & Woods
2 questions for TW
Also covers: AMTD, APO, ARES +17 more
RF
Richard Fellinger
Autonomous Research
2 questions for TW
Ben Budish
Barclays PLC
1 question for TW
Also covers: AB, APO, ARES +23 more
DF
Dan Fannon
Jefferies & Company Inc.
1 question for TW
Also covers: AB, AMG, AMTD +26 more
WK
William Katz
TD Cowen
1 question for TW
Also covers: AB, AMG, AMTD +25 more
Recent press releases and 8-K filings for TW.
Tradeweb Makes Strategic Investment in MAXEX
TW
New Projects/Investments
Board Change
- Tradeweb Markets Inc. has made a strategic investment in MAXEX and announced a commercial collaboration to expand access to the institutional marketplace for U.S. residential mortgages.
- The collaboration aims to connect Tradeweb's global network of over 3,000 clients with MAXEX's network of approximately 400 mortgage lenders and institutional investors, enhancing efficiency, transparency, and liquidity in residential private credit.
- This initiative will extend Tradeweb's mortgage footprint beyond agency mortgage-backed securities into the rapidly growing private residential credit ecosystem.
- As part of the investment, Troy Dixon of Tradeweb was appointed to MAXEX's Board of Directors.
Feb 12, 2026, 1:00 PM
Tradeweb Markets Provides Business Update at UBS Conference
TW
Revenue Acceleration/Inflection
New Projects/Investments
M&A
- Tradeweb's CEO highlighted strong growth rates over the past few years, including 29% and then 16%-17% last year, with continued momentum into December and January.
- The Global Swaps business is identified as the biggest, most profitable, and most important, with significant room for further electronification in areas like emerging market and non-cleared swaps. In US Credit, RFQ trading is a strong growth area, leveraging smart search technologies like AiEX.
- Tradeweb is an early investor and adopter in the Canton Network to improve settlement structures and increase market velocity, particularly in markets like TBA mortgages. They are also focusing on algorithmic trading (AiEX) in US Treasuries to enhance liquidity discovery.
- The company operates in a highly competitive market with strong non-bank liquidity providers like Citadel and Jane Street. While primarily focused on organic growth, Tradeweb is open-minded about M&A for strategic opportunities, emphasizing cultural fit.
Feb 10, 2026, 7:40 PM
Tradeweb Markets Outlines 2026 Strategic Priorities and Market Dynamics
TW
New Projects/Investments
M&A
- Tradeweb Markets is optimistic about 2026, driven by a favorable market setup with banks regaining "oomph" due to deregulation. The company's primary focus areas include continuing to advance in credit, expanding its international business (especially emerging market swaps and credit), and further innovating within the rates complex.
- Significant opportunities exist in electronification, particularly in interest rate swaps, which is their largest and most profitable business and currently only about 30% electronic. Tradeweb is also focused on electronifying the wholesale swaps market and addressing the non-cleared side of the swaps market.
- The company is investing in technological innovation, including AiEX connectivity for algorithmic trading and smart searches in government bonds and credit, and enhancing its AI capabilities under new leadership to improve efficiency and client workflows.
- Tradeweb acknowledges the growing presence of non-bank liquidity providers like Citadel and Jane Street in fixed income, viewing them as partners that contribute to market innovation rather than direct disintermediation. The company's M&A strategy is primarily focused on organic building but remains open to strategic acquisitions that align with its strong culture.
Feb 10, 2026, 7:40 PM
Tradeweb Markets Reports Record Q4 and Full-Year 2025 Results
TW
Earnings
Guidance Update
Share Buyback
- Tradeweb Markets achieved a record revenue year and quarter in 2025, with annual revenue exceeding $2 billion for the first time, and Q4 2025 revenue reaching $521 million, up 12.5% year-over-year on a reported basis.
- For the full year 2025, the company reported 19% annual revenue growth, a 54% Adjusted EBITDA margin (an increase of 64 basis points), 19% adjusted EPS growth, and 32% free cash flow growth.
- The company provided 2026 guidance, expecting adjusted expenses to range between $1.1 billion and $1.16 billion, with the midpoint representing an approximate 11% increase year-over-year.
- The board declared a quarterly dividend of $0.14 per share, marking a 17% increase year-over-year, and approved a new $500 million share repurchase program for 2026.
- Tradeweb continues to invest in digital assets, with other revenues growing over 90% year-over-year in Q4 2025, and is positioned to be a premier venue for tokenized U.S. Treasuries.
Feb 5, 2026, 2:30 PM
Tradeweb Reports Record Q4 and Full-Year 2025 Results, Announces Dividend Increase and New Share Repurchase Program
TW
Earnings
Guidance Update
Share Buyback
- Tradeweb reported record Q4 2025 revenues of $521 million, an increase of 12.5% year-over-year, contributing to a record $2 billion in annual revenue for 2025, representing 19% annual growth. The company also achieved 19% adjusted EPS growth and 32% free cash flow growth for the full year 2025.
- Digital asset initiatives significantly contributed to growth, with other revenues increasing over 90% year-over-year in Q4 2025, including $6.6 million from the Canton Network. Tradeweb holds approximately 1.6 billion Canton Coins with a fair value of about $243 million and recorded $207 million in net gains from strategic investments in Q4 2025.
- The board declared a quarterly dividend of $0.14 per share, a 17% increase year-over-year, and approved a new $500 million share repurchase program for 2026. For 2026, adjusted expenses are projected to be between $1.1 billion and $1.16 billion, an approximate 11% increase at the midpoint, with January 2026 showing 17% year-over-year revenue growth.
Feb 5, 2026, 2:30 PM
Tradeweb Markets Reports Record Q4 and Full-Year 2025 Results, Highlights Digital Asset Growth and 2026 Outlook
TW
Earnings
Guidance Update
New Projects/Investments
- Tradeweb Markets achieved record revenues of $521 million in Q4 2025, marking a 12.5% year-over-year increase, and surpassed $2 billion in annual revenue for the first time in 2025, reflecting 19% annual revenue growth and 19% adjusted EPS growth.
- The company saw significant growth in digital asset initiatives, with "Other revenues" increasing over 90% year-over-year in Q4 2025, and is positioned as a premier venue for tokenized U.S. Treasuries, with a pilot program expected to launch in the second half of 2026.
- For 2026, Tradeweb expects CapEx and capitalized software development to range between $107 million and $117 million, with January 2026 total revenue growth reported at 17% year-over-year.
- The mortgage business, a historically dominant market for Tradeweb, showed a 15% revenue increase in January 2026, with a strong outlook for the year.
Feb 5, 2026, 2:30 PM
Tradeweb Reports Strong Q4 and Full-Year 2025 Results, Announces Share Buyback and Dividend Increase
TW
Earnings
Share Buyback
Dividends
- Tradeweb (TW) reported Q4 2025 revenue of $521.2 million, up 12.5% year-over-year, and full-year 2025 revenue of $2,052 million, an 18.9% increase.
- Adjusted Diluted EPS reached $0.87 for Q4 2025 (up 14.5% year-over-year) and $3.47 for full-year 2025 (up 18.8% year-over-year).
- The company generated Free Cash Flow of $1,065 million in FY 2025, marking a 31.6% year-over-year increase.
- Tradeweb executed $105.9 million in share buybacks in Q4 2025, authorized an additional $500 million for future repurchases, and increased its quarterly dividend to $0.14 per share payable in March 2026.
- For FY 2026, the company provided guidance for Adjusted Expenses between $1,100 million and $1,160 million and Cash Capex & Capitalized Software Development between ~$107 million and $117 million.
Feb 5, 2026, 2:30 PM
Tradeweb Reports Strong Q4 and Full-Year 2025 Results, Increases Dividend, and Authorizes New Share Repurchase Program
TW
Earnings
Dividends
Share Buyback
- Tradeweb Markets Inc. reported record quarterly revenue of $521.2 million for Q4 2025, an increase of 12.5% year-over-year, and record annual revenue of $2.1 billion for full year 2025, up 18.9% from 2024.
- For Q4 2025, diluted earnings per share (EPS) was $1.51 and adjusted diluted EPS was $0.87.
- The company's Board of Directors declared a quarterly cash dividend of $0.14 per share, representing a 16.7% increase from the prior year period.
- A new $500 million share repurchase program was authorized, which will commence after the remaining $23.2 million of the existing program is exhausted.
- Tradeweb provided Full-Year 2026 guidance, including Adjusted Expenses of $1,100 - 1,160 million and cash capital expenditures and capitalized software development of ~$107 - 117 million.
Feb 5, 2026, 12:01 PM
Tradeweb Reports Strong Q4 and Record Full Year 2025 Results, Increases Dividend and Share Repurchase Program
TW
Earnings
Dividends
Share Buyback
- Tradeweb Markets reported record annual revenue of $2.1 billion for the full year 2025, an 18.9% increase from the prior year, and $521.2 million in quarterly revenues for Q4 2025, up 12.5%.
- For Q4 2025, net income increased by 129.5% to $367.1 million, with diluted EPS of $1.51, while full-year 2025 net income rose 61.7% to $921.5 million, with diluted EPS of $3.78. These results include significant non-operating other income gains on Canton Coin holdings.
- The company's Board of Directors raised the quarterly cash dividend by 16.7% to $0.14 per share and authorized a new $500 million share repurchase program.
- Tradeweb provided full-year 2026 guidance, projecting Adjusted Expenses between $1,100 and $1,160 million and cash capital expenditures and capitalized software development between $107 and $117 million.
Feb 5, 2026, 12:00 PM
Tradeweb Launches Multi-Asset Package Trading for USD Swaps
TW
Product Launch
New Projects/Investments
- Tradeweb Markets Inc. (Nasdaq: TW) has launched multi-asset package trading for USD-denominated swaps on its Tradeweb swap execution facility (TW SEF).
- The launch was highlighted by the first fully electronic multi-asset package trade for USD swaps, executed between Barclays and a global hedge fund.
- This new functionality allows institutional clients to streamline the simultaneous execution of interest rate swaps, inflation swaps, and government bonds within a single trade, aiming for greater transparency, efficiency, and smarter analytics.
- Tradeweb has previously implemented similar functionality successfully in Europe and has a history of expanding its derivatives offerings.
Jan 29, 2026, 1:00 PM
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