Virtu Financial, Inc.
For the period ended Nov 4, 2026. Filed Nov 5, 2026.
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Nov 4, 2026 · Filed Nov 5, 2026
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Contents
EX-99.1 · Operating Segment Information
Operating Segment Information
The Company has two operating segments: Market Making and Execution Services; and one non-operating segment: Corporate.
Market Making principally consists of market making in the cash, futures and options markets across global equities, fixed income, currencies, cryptocurrencies, and commodities. As a market maker, the Company commits capital on a principal basis by offering to buy securities from, or sell securities to, broker dealers, banks and institutions.
Execution Services comprises agency-based trading and trading venues, offering execution services in global equities, options, futures and fixed income on behalf of institutions, banks and broker dealers. The Company also provides proprietary technology and infrastructure, workflow technology, and trading analytics services to select third parties. The segment also includes the results of the Company's capital markets business, in which the Company acts as an agent for issuers in connection with at-the-market offerings and buyback programs.
Corporate contains the Company's investments, principally in strategic trading-related opportunities, and maintains corporate overhead expenses.
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The following tables show the trading income, net, total revenues and Adjusted Net Trading Income by segment for the three and nine months ended September 30, 2026 and 2025.
Total revenues by segment
(in thousands, unaudited)
| Three Months Ended September 30, 2026 | Three Months Ended September 30, 2025 | |||||||
|---|---|---|---|---|---|---|---|---|
| Market Making | Execution Services | Corporate | Total | Market Making | Execution Services | Corporate | Total | |
| Trading income, net | $819,716 | $482 | $— | $820,198 | $521,128 | $7,932 | $— | $529,060 |
| Commissions, net and technology services | 17,614 | 154,612 | — | 172,226 | 9,821 | 144,662 | — | 154,483 |
| Interest and dividends income | 147,941 | 3,214 | — | 151,155 | 125,076 | 2,343 | — | 127,419 |
| Other, net | 1,507 | 4,723 | 4,131 | 10,361 | 11,992 | (431) | 2,266 | 13,827 |
| Total Revenues | $986,778 | $163,031 | $4,131 | $1,153,940 | $668,017 | $154,506 | $2,266 | $824,789 |
| Nine Months Ended September 30, 2026 | Nine Months Ended September 30, 2025 | |||||||
|---|---|---|---|---|---|---|---|---|
| Market Making | Execution Services | Corporate | Total | Market Making | Execution Services | Corporate | Total | |
| Trading income, net | $2,451,537 | $14,498 | $— | $2,466,035 | $1,751,094 | $20,745 | $— | $1,771,839 |
| Commissions, net and technology services | 42,233 | 496,163 | — | 538,396 | 41,547 | 418,102 | — | 459,649 |
| Interest and dividends income | 416,325 | 8,234 | — | 424,559 | 357,407 | 7,471 | — | 364,878 |
| Other, net | 1,554 | 4,727 | 3,949 | 10,230 | (4,266) | 63,684 | 6,447 | 65,865 |
| Total Revenues | $2,911,649 | $523,622 | $3,949 | $3,439,220 | $2,145,782 | $510,002 | $6,447 | $2,662,231 |
Reconciliation of trading income, net to Adjusted Net Trading Income by operating segment
(in thousands, unaudited)
| Three Months Ended September 30, 2026 | Three Months Ended September 30, 2025 | |||||||
|---|---|---|---|---|---|---|---|---|
| Market Making | Execution Services | Corporate | Total | Market Making | Execution Services | Corporate | Total | |
| Trading income, net | $819,716 | $482 | $— | $820,198 | $521,128 | $7,932 | $— | $529,060 |
| Commissions, net and technology services | 17,614 | 154,612 | — | 172,226 | 9,821 | 144,662 | — | 154,483 |
| Interest and dividends income | 147,941 | 3,214 | — | 151,155 | 125,076 | 2,343 | — | 127,419 |
| Brokerage, exchange, clearance fees and payments for order flow, net | (209,758) | (32,305) | — | (242,063) | (147,522) | (30,734) | — | (178,256) |
| Interest and dividends expense | (196,704) | (845) | — | (197,549) | (164,374) | (1,317) | — | (165,691) |
| Adjusted Net Trading Income | $578,809 | $125,158 | $— | $703,967 | $344,129 | $122,886 | $— | $467,015 |
| Nine Months Ended September 30, 2026 | Nine Months Ended September 30, 2025 | |||||||
|---|---|---|---|---|---|---|---|---|
| Market Making | Execution Services | Corporate | Total | Market Making | Execution Services | Corporate | Total | |
| Trading income, net | $2,451,537 | $14,498 | $— | $2,466,035 | $1,751,094 | $20,745 | $— | $1,771,839 |
| Commissions, net and technology services | 42,233 | 496,163 | — | 538,396 | 41,547 | 418,102 | — | 459,649 |
| Interest and dividends income | 416,325 | 8,234 | — | 424,559 | 357,407 | 7,471 | — | 364,878 |
| Brokerage, exchange, clearance fees and payments for order flow, net | (538,331) | (101,546) | — | (639,877) | (514,136) | (88,120) | — | (602,256) |
| Interest and dividends expense | (576,027) | (4,715) | — | (580,742) | (458,296) | (3,936) | — | (462,232) |
| Adjusted Net Trading Income | $1,795,737 | $412,634 | $— | $2,208,371 | $1,177,616 | $354,262 | $— | $1,531,878 |
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.