Virtu expects net trading income of $295-$303m for two months till end-Aug 2020 - FinanceFeeds

Virtu expects net trading income of $295-$303m for two months till end-Aug 2020

Maria Nikolova

Virtu expects the Average Daily Adjusted Net Trading Income of between $5.53 and $5.72 million for the July-August period.

Virtu Financial Inc (NASDAQ:VIRT), a provider of financial services and products that leverages cutting edge technology to deliver innovative, transparent trading solutions to its clients and liquidity to the global markets, today announced preliminary estimates of its top line results for third quarter to date through August 31, 2020.

On a preliminary estimated basis, Virtu expects its results of operations for the two months ended August 31, 2020 to reflect net trading income in the range from $295 million to $303 million. Adjusted Net Trading Income is forecast to be between $238 million and $246 million.

The Average Daily Adjusted Net Trading Income for the July-August period is estimated to be between $5.53 and $5.72 million per day.

July 2020 estimated results are revised to $6.50 million Average Daily Adjusted Net Trading Income (from the previously estimated range of $6.70 to $7.00 million per day). The Trading Income in July is estimated at $173 million, whereas Adjusted Net Trading Income is expected to be $143 million.

The August 2020 results of operations are preliminarily estimated to reflect net trading income in the range from $122 million and $130 million, whereas adjusted net trading income is expected to be between $95 million and $103 million.

The Average Daily Adjusted Net Trading Income for August is expected to be between $4.52 and $4.90 million per day reflecting overall declines in volumes and volatility benchmarks in the U.S. and Europe.

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