Tradeweb Markets Inc. (NASDAQ:TW) today reported financial results for the quarter ended March 31, 2026.

During the first quarter of 2026, the company generated $617.8 million in revenues, an increase of 21.2% (17.5% on a constant currency basis) compared to the first quarter of 2025.

The company posted $274.1 million in quarterly international revenues, an increase of 29.4% (20.7% on a constant current basis) compared to prior year period.

Tradeweb reported $3.3 trillion in average daily volume (“ADV”) for the quarter, an increase of 31.4% compared to prior year period; quarterly ADV records in U.S. and European government bonds, mortgages, swaps/swaptions ≥ 1-year and < 1-year, futures, fully electronic U.S. high grade and high yield credit, electronically processed U.S. high grade credit, European credit, credit derivatives, U.S. and international ETFs, repurchase agreements and other money markets.

Net income for the first quarter of 2026 amounted to $233.2 million, an increase of 38.5% from the year-ago period.

The company posted $0.96 diluted earnings per share (“Diluted EPS”) and $1.08 adjusted diluted earnings per share for the quarter.

Tradeweb declared $0.14 per share quarterly cash dividend, a 16.7% per share increase from prior year period.

Billy Hult, CEO of Tradeweb, commented:

“The record quarterly revenue and volumes we delivered underscore the strength of our global, multi-asset platform and the continued structural shift toward electronic trading. We saw strong momentum in international client engagement and adoption, alongside accelerating use of automated trading workflows, as clients increasingly turned to electronic solutions — particularly amid heightened global volatility in March.

In our core markets, we continued to enhance our rates offering by advancing dealer algo execution for U.S. Treasuries, completing the first fully electronic swaption termination and launching multi-asset package trading for USD swaps. We also partnered with MAXEX to broaden institutional access to U.S. residential mortgages. In credit, increased adoption of electronic block trading continued to underscore the ongoing structural shift toward electronification, while ETFs remained an important and growing part of the ecosystem.

At the same time, we are investing in frontier areas that are shaping the future of electronic trading. Our investment in and partnership with Kalshi marks an important milestone in bringing institutional access to prediction markets into sharper focus. In digital assets, our initiatives, including on-chain repo activity on the Canton Network, build directly on our core strengths and support the evolution toward more continuous, 24/7 trading. We also led a $31 million Series B financing round of Crossover Markets and established a strategic partnership with the goal to deliver institutional spot crypto liquidity to clients globally. In parallel, we are continuing to advance our AI capabilities, ensuring we remain well positioned as these markets continue to evolve.

Taken together, we believe these efforts enable us to play a leading role in the convergence of traditional finance and digital markets. With a strong foundation in place, we remain focused on delivering for clients, investing in our platform and building on momentum across both our core business and emerging growth areas.”