Virtu Financial, Inc. Class A

Hello, everyone. Thank you for joining us and welcome to the Virtu Financial first quarter 2026 earnings call. After today's prepared remarks, we'll host a question and answer session. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. I will now hand the conference over to Matthew Sandberg, head of IR and FP&A. Matthew, please go ahead.

Thank you. Good morning, everyone. Our first quarter 2026 results were released this morning and are available on our website. With us today on this morning's call, we have Aaron Simons, our Chief Executive Officer, Cindy Lee, our Chief Financial Officer, and Joe Maluso, our Co-President and Co-Chief Operating Officer. We will begin with brief prepared remarks and then take your questions. First, a few reminders. Today's call may include forward-looking statements which represent Virtue's current belief regarding future events and are therefore subject to risks, assumptions, and uncertainties which may be outside the company's control. Please note that our actual results and financial conditions may differ materially from what is indicated in these forward-looking statements. It is important to note that any forward-looking statements made on this call are based on information presently available to the company And we do not undertake to update or revise any forward-looking statements as new information becomes available. We refer you to disclaimers in our press release and encourage you to review the description of risk factors contained in our annual report, Form 10-K, and other public filings. During today's call, in addition to GAAP measures, we may refer to certain non-GAAP measures, including adjusted net trading income, adjusted net income, adjusted EBITDA, and adjusted EBITDA margin. These non-GAAP measures should be considered as supplemental to and not as superior to financial measures as reported in accordance with GAAP. We direct listeners to consult the investor portion of our website where you'll find additional supplemental information referred to on this call as well as a reconciliation of non-GAAP measures to the equivalent GAAP term in the earnings materials with an explanation of why we deem this information to be meaningful as well as how management uses these measures. With that, I'd like to turn the call over to Aaron.

Thanks, Matt. Good morning, everyone. Again, just like very brief remarks before Cindy goes over the detailed results and we move to Q&A. But just wanted to highlight that our first quarter results show that we're executing on our plan to grow through investing in our infrastructure, acquiring top talent, and expanding our capital base. Following that plan, in the last seven months, we have added over $500 million in new trading capital and maintained a return on our total capital in excess of 100%. Our results for the first quarter were among the best in Virtu's history, aided by an operating environment which was even more favorable than the fourth quarter of last year. Within the context of that environment, all of our businesses performed well, customer and non-customer market making, as well as execution services. We've provided additional perspective on the quarter in our detailed financial supplement, and we'll be answering your questions shortly. First, though, Cindy Lee, our Chief Financial Officer, will review the financial results for the quarter.