Virtu Financial : Annual Reports 05/03/2021

2020 Annual Report

Rising to the challenge

1	A message from our CEO	6
2	People-first culture	8
3	Our numbers	12
4	About Virtu	14
5	Global financial services	20
6	Corporate information	24

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A MESSAGE FROM OUR CEO

2020 was a year like no other.

The global pandemic not only disrupted life as we know it, but it also brought unprecedented and rapid change.

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Douglas A. Cifu

Co-founder & CEO

One cannot prepare our annual letter to shareholders without reflecting on the pandemic that has impacted us all, brought hardship on so many families and communities, and has had such a profound impact on the global economy. Our thoughts and prayers remain with all those impacted, as well as with our great healthcare professionals and first responders doing so much to alleviate the suffering.

As life-saving vaccines become more prevalent, we are optimistic that there are better days ahead. At Virtu, the past year has created opportunities to witness the very best in each other. Virtu teammates responded in extraordinary ways and demonstrated their excellent ability to adapt, innovate and creatively problem-solve while supporting a safe work environment and giving back. Using our advanced technology, our experience in global markets and the expertise of our exceptional people, we were able to pivot and make timely and critical enhancements to our products and services-meeting evolving client need across the globe amidst record market volume and volatility.

Virtu enters 2021 better positioned than at any time in the firm's history. Our technological strength, the breadth of our client network and our financial position has never been better.

It came as no surprise that the events of 2020 brought on unprecedented volatility in the global markets, creating risk and opportunity for a myriad of investors, from small retail participants to the largest global institutions. Against this environment, we delivered top results across our business lines. Our net income was $1.1B on net revenue of $2.3B, both records. We are particularly proud of the $1.3B in price improvement we delivered back to individual investors.

This impressive figure is indicative of the health and transparency of the US equity markets. We applaud and support the innovation and competition that has made our markets more accessible to more individual investors and the technology and tools that have increased transparency and efficiency.

Our strategy remains rooted in building scale and strengthening our global presence as a market maker and facilitator of liquidity across asset classes. In 2020, we grew our revenues, net income and cash flows all while integrating the large acquisitions we consummated in recent years. Importantly, we continued to invest in our technology, products and people, leveraging our core capabilities to generate substantial growth from new businesses and asset classes-in which Virtu had no presence just a few years ago. We accomplished these results all while repaying nearly $300M of our acquisition- related debt and returning substantial amounts of cash to our shareholders. In 2020, we maintained our yearly $0.96 dividend, which has been paid consistently since our IPO in 2015. Throughout all market environments, Virtu has returned cash to its shareholders, we have also recently completed approximately $130M share repurchases as of this writing.

It is important for me to note how appreciative and proud I am of our nearly 1,000 employees. Through this period of global turmoil, our people have gone above and beyond the call of duty. The level of empathy and individual willingness to support and give back has been nothing short of remarkable. Virtu in partnership with employee-led relief efforts has donated their talent, time, money and PPE to over 175 COVID-19 charities and community-based support groups. Employees and clients worked together to support a myriad of organizations across

the globe including local food insecurity and adopt-a-family initiatives.

In addition, we made enormous strides in 2020 by unleashing the power of social responsibility via diversity and inclusion efforts consistent with our People-First culture. Our professionals are among the best and brightest in the industry and we strive to continue to retain and attract talented people from diverse backgrounds.

I am humbled at what we have accomplished and, with our unyielding team spirit, excited for how we will continue to support one another and strengthen our communities in the years ahead.

Be safe,

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PEOPLE-FIRST

CULTURE

Employees and their families

The Board of Directors and Senior Management's absolute priority is the health and safety of our people. Due to our early and active monitoring of COVID -19, Virtu took quick and decisive action.

175+

COVID-19 related organizations were supported across the globe.

Community

Virtu in partnership with employee-led relief efforts has donated their talent, time, money and PPE to over 175 COVID-19 charities and community-based support groups. Employees and clients worked together to support a myriad of organizations across the globe including local food insecurity and adopt-a-family initiatives.

585+

Employee-led internal, social and team- building events, to promote togetherness.

With 95% of our employees working from home, extensive assistance resources were made available to address physical, mental and emotional wellbeing, to ease financial burdens, provide at home child-care and tutoring and so much more.

Created and hosted employee-led weekly internal, global and regional social events to foster togetherness: new skill workshops, fitness classes, trivia nights, happy hour hangouts and other topics and entertainment activities.

Clients

Virtu teams demonstrated our values of reliability, virtueand commitmentby continuing to support our clients and providing with tools and resources to help them adapt to physically distant work ergonomics.

Identified and delivered additional and customized trading analytics to help clients adapt and confirm their execution strategies in 2020's volatile markets.

Virtu Market Making delivered US$1.3B in price improvements back to retail investors.Helping people keep more of their hard-earned money builds trust and contributes to the sustainability of the recent rally.

48 virtual client events with over

1,750

client attendees in 2020.

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