Acquisition Will Further Enhance and
Differentiate Tradeweb Intelligent Execution Capabilities in Fixed
Income and Futures
Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator
of electronic marketplaces for rates, credit, equities and money
markets, today announced that it has entered into a definitive
agreement to acquire r8fin, a technology provider that specializes
in algorithmic-based execution for U.S. Treasuries and interest
rate futures.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20231115213638/en/
Tradeweb CEO Billy Hult (Photo: Business
Wire)
Founded in 2016 in Chicago, r8fin provides a suite of
algorithmic-based tools as well as a thin-client execution
management system (EMS) trading application to facilitate futures
and cash trades. The solutions complement Tradeweb’s existing
Dealerweb Active Streams, Dealerweb Central Limit Order Book
(CLOB), Tradeweb Request-for-Quote (RFQ) and Tradeweb AiEX
(Automated Intelligent Execution) offerings, creating a valuable
and broad-based approach to trading U.S. Treasuries and related
futures trading.
Tradeweb expects the acquisition to modestly enhance revenue
growth, operating margins and be accretive to 2024 earnings per
share. The acquisition is expected to close in the first quarter of
2024 subject to customary closing conditions and receipt of
regulatory approvals.
Tradeweb CEO Billy Hult commented: “r8fin technology will help
Tradeweb reach a new and differentiated level of intelligent
execution through a powerful combination of algorithmic technology
and cross-market connectivity. This marks another step forward in
the execution of our vision to deliver an integrated product suite
for accessing the U.S. Treasury market through multiple liquidity
pools across cash and futures. Beyond that, as we look ahead, we
believe pairing r8fin’s sophisticated technology with our global
network will open up a range of new possibilities for clients
engaged in relative value or macro trades spanning multiple asset
classes.”
r8fin has a client base that includes 65 relative value hedge
funds, systematic hedge funds, professional trading firms and
primary dealers. r8fin technology facilitates algorithmic-based
execution for an average of more than $23 billion notional in U.S.
Treasury bonds and 350,000 futures contracts per day.1
Tradeweb is the leading electronic trading platform for U.S.
Treasuries, with a broad and deep network that spans institutional,
wholesale and retail markets. Tradeweb launched the first
multi-dealer online marketplace for U.S. Treasuries 25 years ago,
and today facilitates an average of $142.7 billion per day in U.S.
Treasury trading.2
r8fin Co-founder Assad Fehmy commented: “Combining with Tradeweb
will further amplify and scale the r8fin technology, providing
customers with broader integrated execution solutions and asset
classes. It has been an incredible experience watching our
technology and network evolve over the last seven years, and I am
confident r8fin will be positioned for continued growth in this new
chapter as part of Tradeweb.” Mr. Fehmy will join Tradeweb upon the
closing of this acquisition.
About Tradeweb Markets
Tradeweb Markets Inc. (Nasdaq: TW) 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 more
than 2,500 clients in more than 65 countries. On average, Tradeweb
facilitated more than $1.2 trillion in notional value traded per
day over the past four fiscal quarters. For more information,
please go to www.tradeweb.com.
About r8fin
r8fin algorithms and the entire r8fin ecosystem are utilized by
hundreds of institutional risk-taking professionals to help manage
their fixed income trading. The r8fin platform is a long-term
proven, highly scalable and robust technology infrastructure hosted
in multiple global co-located data centres. For more information
please go to www.r8fin.com.
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of the federal securities laws. Statements related to,
among other things, our outlook and future performance, the
industry and markets in which we operate, our expectations,
beliefs, plans, strategies, objectives, prospects and assumptions
and future events are forward-looking statements.
We have based these forward-looking statements on our current
expectations, assumptions, estimates and projections. While we
believe these expectations, assumptions, estimates and projections
are reasonable, such forward-looking statements are only
predictions and involve known and unknown risks and uncertainties,
many of which are beyond our control. These and other important
factors, including those discussed under the heading “Risk Factors”
in documents of Tradeweb Markets Inc. on file with or furnished to
the SEC, may cause our actual results, performance or achievements
to differ materially from those expressed or implied by these
forward-looking statements. Given these risks and uncertainties,
you are cautioned not to place undue reliance on such
forward-looking statements. The forward-looking statements
contained in this release are not guarantees of future performance
and our actual results of operations, financial condition or
liquidity, and the development of the industry and markets in which
we operate, may differ materially from the forward-looking
statements contained in this release. In addition, even if our
results of operations, financial condition or liquidity, and events
in the industry and markets in which we operate, are consistent
with the forward-looking statements contained in this release, they
may not be predictive of results or developments in future
periods.
Any forward-looking statement that we make in this release
speaks only as of the date of such statement. Except as required by
law, we do not undertake any obligation to update or revise, or to
publicly announce any update or revision to, any of the
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date of this release.
1,2 Year-to-date as of October 31, 2023
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231115213638/en/
Media contact: Daniel Noonan, Tradeweb, +1 646 767 4677,
Daniel.Noonan@Tradeweb.com
Investor contacts: Ashley Serrao, Tradeweb, +1 646 430
6027, Ashley.Serrao@Tradeweb.com Sameer Murukutla, Tradeweb, +1 646
767 4864, Sameer.Murukutla@Tradeweb.com
Tradeweb Markets (NASDAQ:TW)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Tradeweb Markets (NASDAQ:TW)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024
