Tradeweb Markets Inc. (Nasdaq: TW), a global operator of electronic marketplaces for rates, credit, equities and money markets, released the following statement:
“Tradeweb is in advanced discussions to acquire Yieldbroker, an Australian government bond and interest rate derivatives trading platform covering the institutional, wholesale, and primary markets. Tradeweb anticipates that the acquisition would be an all-cash transaction with a purchase price of AUD 125 million.”
As noted in the update, the firm says it believes “this transaction would leverage both firms’ innovative trading solutions and deep industry experience to create more liquid, transparent and efficient fixed income markets.”
According to the firm, this acquisition would “provide Yieldbroker’s domestic client network, including superannuation funds, with access to Tradeweb’s global multi-asset platform, deep liquidity and advanced technology.”
Conversely, Tradeweb customers worldwide “would benefit from increased liquidity, pre-trade transparency, and coverage of the Australian and New Zealand debt capital markets.”
Australia is reportedly “home to the 5th largest pension fund market globally, and we believe that this acquisition would help grow Tradeweb’s Asia Pacific footprint and provide meaningful opportunities for domestic and global clients.”
Tradeweb can “offer no assurance that a definitive agreement will be entered into, or if entered into that a transaction will be consummated.”
The potential deal “remains subject to Yieldbroker stockholder approval, final definitive documentation, and would be subject to customary closing conditions and regulatory reviews.”
As mentioned in the announcement, Tradeweb Markets Inc. claims it is “a leading, global operator of electronic marketplaces for rates, credit, equities and money markets.”
Founded in 1996, Tradeweb provides “access to markets, data and analytics, electronic trading, straight-through-processing and reporting for more than 40 products to clients in the institutional, wholesale and retail markets.”
Advanced technologies developed by Tradeweb “enhance price discovery, order execution and trade workflows while allowing for greater scale and helping to reduce risks in client trading operations. Tradeweb serves approximately 2,500 clients in more than 65 countries.”
On average, Tradeweb has “facilitated more than $1.1 trillion in notional value traded per day over the past four quarters.”