Thank us that and first thank you safe you you, joining We everyone, hope of well. Deborah. each and are for Virtu's those review and results. about to you Good morning, quarter care
sincere those day start bravery of and maintain their extending for appreciation families who professionals emergency me off ensure dedication leave health essential responders, Let our safety care every by and to services. and our the
I'd asset also trust resilience our their turning more at as our times technology these classes who well thank and their in putting products to like manage our firm, their are everyone Virtu this across globally. people, to exceptional for and as risk in than to customers challenging us ever our
firm, PPE worldwide. COVID-XX Family conjunction As have communities committed our is charities furthering and to a Virtu to relief and donate continue work live clients and employees Viola we and facilities to contributions food, over where XX financial In with health care made efforts. in Foundation, the
also pledged up in We $X efforts to relief have million employee and families to need. of match pandemic-related contributions to
stabilizing liquidity Before employees, also well-being global to response, and providing to responsibilities to to discussing crisis aspects markets. internal the the our continue best-in-class important provide results, would ensure to of Virtu's our of like highlight including service our capital I
potential March, early to XX% rollout. phased lockdown our with our a offices initiated our on continuity prepare approximately business and working any began business in staff mid-January, Starting global for By home. from disruptions, were plan we of
capabilities of connectivity home maintain each that we operations while quickly this technology and firm, global business a had X,XXX networking, employees happen in make place financial and to safe. the could As security and our remain ensuring
comfortable limited staff plans for developing safe to so. our is once and back to is bringing team BCP groups have determined Our feel we offices of it people do
than government-issued generally methodical be and more will approach conservative guidelines. Our
before they commute deep commitment to to or pressure our the or comfortable. people of safety and We will feel force not office folks the have a and return health to
individuals we important our made is and to a implications this and to support initiated than the we will have as be layoffs to continue the me employees. of this safety offer well-being nothing year, In our that Furthermore, more short, broad-based no face employees will commitment of crisis.
of extreme volume our period to and on global continue risk challenging a to customers rely navigate assistance this robust environment, performance During volatility, analysis. institutional locate liquidity, transfer access uniquely provide our and
client They Systems performed outsized flow market of prolonged Under of is order levels operation tested critical designed well and load. stress, to and to orderly as ensure Virtu capital worldwide. the are to as withstand This support intended. as and transparent diligently markets
services. Virtu execution for liquidity advice, Given analysis, to our clients and scale, look
relationships remains clients ensure despite client us focus as ever peers and than working more from unique advice we by content and their feel connected to to key home. a Developing providing work to
effort, technology. As our University. retain dubbed like this competitive this partnership core of advantage content are hosting we've regularly clients part a of client sessions and Opportunities interactive want to to we me virtual gain empower through We the Virtu's excite is these Virtu ethos. because
a client For scenario. Virtu, and markets benefit. capital us, all it's the the clear win-win
of more $XXX customers, entire the our we delivering in all provided amount price than execution provide XXXX. superior the retail For first months continue X of in million improvement quality, to over of XXXX,
massive The by economies, precipitating and economic volumes pandemic trading will of defined intervention volatility. global XXXX to first support impact quarter of record the be with a global
safeguards infrastructure and well with market as breakers surge the handled things designed. volumes functioning All extremely considered, circuit in
and active fiscal an have to the agencies with ongoing been dialogue have continue with and regulatory impressed regulators, exchanges, We government and responsiveness. central banks
strength, this has highlighting of global firm navigated significant the fortifying position our leadership our from our role in and position a Overall, crisis markets.
our I have of QX Q&A. we for our like time Now plenty results. I that and would keep to so Alex comments brief will review
our million see environment. strong million than volatile exceptionally In average adjusted and amidst press trading we income, can total of we more XXXX. from performance delivered triple supplement the in market an you per release $XXX presentation, or As generated day QX, net QX of $XX.X
for average day. adjusted daily quarter, trading net million net adjusted income million the X% of range million million April's per income pleased that $XXX to up into with approximately first I'm to the report also or $XX.X strong about continued to performance this trading $XXX an quarter, $XX.X second versus
illustrated ahead factors, QX on on of as of results by These were driven results, meaningfully number each X. effect some compounding is other. This a which of have a Slide
there best at environment wider volatility, summarized recent by are market volumes and While on nuances, spreads, of in is businesses. important have retail the consider looking many indicator is to volatility, changes that bid/ask the It volumes and often our an engagement. impact
we engagement period, began April, spiked surged fivefold the trend XXXX, and in quarter. U.S. XX% X a this observed realized continuing in Retail early in and nearly the year this S&P commissions. in increase During that prior the volumes early to April over increase volatility a a with equity -- move
and we globally. saw commodities asset volatility as notably gold course, in in our global classes crude other volume in and Of markets well, business global specifically desks on most similar surges and our
our leading growth first increased quarter, the significant quarter-over-quarter XXX%. over addition, business saw results in FICC In to that FX
the in into measures environment evidenced from the strategic previous overperformance as from record-setting the growth benefited investments our in While presented increased results opportunity, second first our several our performance sustained quarter. and significantly quarter
improving options our the have calls, spike, the block and returns on opportunity. KCG and our marketing other expansion class volumes strategic have in contribute When yield our ETF asset business, by strategies on well contributed volatility made scaling in as quarters. and continuous our to we have as each global discussed initiatives among enhancement substantial global subsequent initiatives, we prior quant these prior in desk globally, investments As
our million, totaled Our significant QX. $XXX EBITDA $X.XX adjusted from low And fixed drove and $X.XX, EBITDA of than in EPS structure cost was all adjusted the as quarter than fiscal normalized XXX% expansion margin prior up higher for XXX% XX% XXXX. higher
EBITDA margin was adjusted impressive XX% first in Our quarter. an the
Making see of As sources, increase over bid-ask record-breaking prior drive soaring our businesses, quarter. in Though business the fixed with compound recurring and the opportunity and turnover more than the can outsized spreads quarter. wider includes our Making XX% in returns. increases Services ANTI X, segment market volumes results of business, our period, ANTI our and benefit in the and you on revenue Market in previous In we volatility delivered recorded an which Slide Execution Market XXX% both for increases over
global rippled recent and multi-asset the operate. we class these platform, as were volatility we pronounced a various where markets classes further Because asset macro across are results
maintained as X we per risks and functioned technology designed, making market shares, management U.S. outsized We and as even in day of days billion an focus. on exceeded shares we disciplined X did or avalanche risk our and managed equities. orders which Our on billion and amounts new many take of record not executed
of Given the by exceptional capacity that the volatility provided liquidity supplement services global our opportunistically end expire ensure markets is March, our provide upon $XXX the at Viola, drawn our prudent Vincent not to to short-term it execution to $XXX facility been has we to million meet we're and demands in to borrowing September. of late broker-dealer able by considered market The founder, clients. set million the and
Some aspects settle the market recent be of weeks. to down in starting may
remain over over continues Market the than was remained engagement equity and XX%. of of XX% drivers drivers higher April largest many QX April Making results. retail in very date. However, in to our Average volumes strong as VIX U.S. last Growing one
retail indicate from disclosures reported, major highs, As trend the is near has is activity brokers or recent continuing. and at been discount this historic
an over adjusted in net our for day delivered increase April, we of $XX.X million average $XX.X I mentioned, to QX. As million income, per trading X%
share of growth demonstrating to the market just as controlling deliver our also the a margins clients. and service markets, proposition, business, performance in not view other level versatility and quarter Virtu sustainability costs the platform this U.S. addition, but our we business In value market of have in In high our sustained to model. maintaining We and virtually our of globally. we Equities profitability significant every integral our calmer by
who engagement. pattern with you business not Add returns like the volatility earnings our linear, follows rather uneven our that growth familiar but is and we in environments understand and correlated QX, customer extraordinary outsized attractiveness to model. appreciate can are realize Those an to this, of volumes, the market our
of plus organic have earnings, with expanding in is These execution may obscure increased baseline a from driven by that outsized growth existing consistent the but initiatives high-margin liquidity servicing over businesses, and growth strategic year. our our our recurring times. new foundation include Our revenues past gains outsized during our needs, returns clients' of baseline which markets foundation but of solid the busier and growth is comprised calm
first expanding compared at driving These client X% include presence gains as XXXX. in organic the end to initiatives delivered in markets, and quarter capabilities negligible amount the of These of initiatives operating the attractive new approximately growth products ANTI our in efficiency, our optimizing the comprising driving our quarter, growth. and
significant seen we on at ETF I'm our in of we in last as to investment our report of that to are shared we've XXXX. block benefits quarter's call, end the growth starting Specifically, franchise realize the XXXX. pleased
average daily year-to-date XXX%, P&L increased Our over year already we XXXX we realized in all have more of did XX% in and XXXX. P&L has than fiscal
significant of opportunity achieved asset there runway and to introduction results business. into in strategies we continue also markets quant-style KCG new is We our the this classes significant scale from and as
In looking quarter companies primary million addition, public raise public to of our capital. capital second over Markets, client through which to equity additional markets accelerated raised at-the-market this $XXX looked so as assists to raise year equity the Virtu as far issuers access Capital capital, activity in offerings
Our and in the core business, and strategy the them to service Virtu financial firms validated of longer-term first technologically inside, again was enhancing quarter. the acquiring adjacent large from operationally streamlining
volatility. and more function volumes results market Our are just than a of
our benefited and now by working Higher retail seasoned and, growing volatility. remains home Market has taking as volumes recently, more market of fueled trading Making new commissions engagement traders from of driver as the X key business, advantage a from well customer which
from continued our X grow XXX exceptional in traded growing on can Rule see we shares market by you these have QX. as IBKR illustrates and XXX Virtu's participation reflect in volumes in competing service share X, As Slide times. execution volumes and increasing Slide especially this our trend quality, Rule to
returns in record returning important understand be hedge our and track market, that, of long It's disruptions, the to base provides natural capital in to business to times profits, volatility long-standing a producing of the consistent plus market opportunity of to recurring addition the shareholders. outsized to
XX% capital increases capital We for repurchases. remain XX% returned paying of delivering have This $X.XX a return common share committed dividend our rate IPO, return straight to consistently an quarters. capital, shareholders. XX for when to Since attractive of including our we
second million by we diligently as and we net term quarter, we XXXX, In debt. the addition, the million returns prepay generate cash the end will be $X this plan with responsible in our additional an quarter, in to of light of we demonstrated debt XXXX the interest of saving repaying before $XXX In expense.
end cash term an disciplined We guidance. more to to demonstrated Alex EBITDA to to management record by previous apply committed we the adjusted to expense detail related debt of sum, revised XXXX. in our lower continue flow X:X our track target as our on by internal with will XXXX free provide expenses. expense reduce management debt remain our to will of But
a headcount our higher-than-targeted as cash of assistance an our to result reductions of to ANTI result XXXX our and globally, cash reflect compensation in as in to global payments our to any COVID-XX, X,XXX as quarter have comp date. increased employees we related to defer accrual results decision well commitment our as outstanding increase to However, a onetime in force to pandemic related our the employees this
into continue to of global strengthened the opportunities the results built powered we singular and in am integration our a about I technology and ahead. our and a result strategic ability the investments. inception, convert attractive efforts Since have respected people The has by business multi-asset outlook best platform. business our as highly to persist, our to excited scaled, our franchise fundamentals
I'll financials, questions. before up open our now we further call turn Alex? Alex, details over who it to can on And provide for the
