Virtu Financial Sees Sharp Drop in Revenues in Q2 2021

New York-based Virtu Financial Inc. (NASDAQ: VIRT), a financial services and technology provider, reported its financial figures for the secondquarter of 2021, ending on June 30, indicating a sharp drop in revenues and net income.

More specifically, total revenues reached $549.0 million, down by 45% compared to Q1's $1,012.6 million. That number for the same period in 2020 was $905.9 million.

​Net income came in at $108.9 million, compared to last year’s $335.3 million. Normalized adjusted net income reached $122.3 million. In terms of adjusted EBITDA, the figure amounted to $197.3 million, and adjusted EBITDA margin stood at 57.7%. Basic earnings per share totaled $0.51 and diluted earnings per share came in at $0.50. In addition, normalized adjusted EPS was $0.63. 

Net trading income recorded $384.8 million, showing a YoY decrease of 48.3 percent. Moreover, the adjusted net trading income touched $341.8 million.

As Fazzaco reported earlier, Virtu's US POSIT alternative trading system (ATS) has announced to make changes​ to its manner of operation, including new matching rules and the introduction of subscriber segmentation.