Virtu Financial Revenue Rises 40% on Trading Gains
The market maker reported third-quarter 2026 results and board approval to move its incorporation from Delaware to Texas.
Updated on Nov. 5, 2026 in Corporate Finance
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Virtu Financial reported total revenues of $1,153.9 million for the third quarter of 2026, up 39.9% year over year, with net income of $282.5 million. The company's Board also approved changing its state of incorporation from Delaware to Texas.
Why it matters
The results reflect strong trading income growth of 55.0% to $820.2 million, and the proposed reincorporation signals a shift toward Texas, where the company says a key trading, technology and operational hub is located. The move is expected to occur later this year without affecting business operations or employee locations.
Trading income, net, rose 55.0% to $820.2 million, and Adjusted EBITDA climbed 63.5% to $437.9 million for the quarter. Basic and diluted earnings per share were $1.65, while Normalized Adjusted Net Income increased 70.2% to $283.5 million.
The players
Virtu Financial
Virtu Financial is a global market-making and electronic trading firm that provides liquidity across a wide range of asset classes.
The details
The Board unanimously approved the reincorporation after a committee of independent and disinterested directors recommended the move, and the controlling stockholder approved it by written consent. The Board also declared a quarterly cash dividend of $0.24 per share.
Timeline
September 30, 2026: Third quarter 2026 reporting period ended.
December 1, 2026: Record date for the quarterly dividend.
December 15, 2026: Quarterly dividend payment date.
Later in 2026: Planned redomestication to Texas expected to occur.
Market Dynamics
The planned move to Texas follows the state's efforts to attract corporate reincorporations through its modernized business statutes and the Texas Business Court. Virtu's Board cited these features alongside the company's existing Texas operations in deciding to shift its legal domicile from Delaware.
Shareholders of record by December 1, 2026 are scheduled to receive the $0.24 per share quarterly dividend on December 15, 2026. The company said the reincorporation is not expected to change business operations, management, strategy or employee locations.
The takeaway
Investors tracking Virtu Financial should note both the strong trading-driven revenue growth and the forthcoming change in legal domicile. The company stated the move is not expected to affect operations, so the primary near-term items to monitor are the dividend dates and completion of the Texas redomestication.
What happens next
The planned redomestication of Virtu Financial to Texas is expected to occur later in 2026, and the quarterly dividend is payable December 15, 2026.
Further reading
For more on how companies weigh moves like this, see Corporate Finance.
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