Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator
of electronic marketplaces for rates, credit, equities and money
markets, today announced that it has completed its acquisition of
Yieldbroker, a leading Australian trading platform for Australian
and New Zealand government bonds and interest rate derivatives
covering the institutional and wholesale client sectors. The A$125
million, all-cash transaction was announced in May 2023.
This acquisition combines Australia and New Zealand’s highly
attractive, fast-growing markets with Tradeweb’s international
reach and scale. Australia is the fifth largest pension fund market
globally1 and has the twelfth largest sovereign bond market2.
Founded by the key firms underpinning these markets, Yieldbroker
has harnessed the expertise of its members and customers to deliver
a trading solution that has continuously evolved to meet the needs
of its users. Yieldbroker also operates an electronic auction
platform to conduct primary auctions in Australian and New Zealand
government bonds.
“Tradeweb and Yieldbroker share a strong commitment to client
collaboration and continuous innovation, and both of us were born
out of a dealer-owned structure,” said Tradeweb CEO Billy Hult.
“Now operating as one Tradeweb team based in Sydney, we are
exceedingly well-positioned to seamlessly connect markets in
Australia and New Zealand with our global network of clients and
dealers.”
“Yieldbroker’s deep understanding of Australia and New Zealand,
and the unique features that make these markets so important, are
truly unmatched,” said Yieldbroker CEO Anthony Robson. “As part of
Tradeweb, we can work with clients around the world to ensure they
can take full advantage of all that we have to offer, while
leveraging Tradeweb’s global presence to bring a world of
opportunity to our local community.”
Both Tradeweb and Yieldbroker were early innovators in the
electronification of fixed income markets, having been founded in
1996 and 1999 respectively. In bringing together the two platforms,
Yieldbroker’s client network will benefit from Tradeweb’s global
multi-asset marketplace, deep liquidity and advanced technology.
Meanwhile, Tradeweb customers worldwide will gain access to
Australia and New Zealand’s growing bond and derivatives
marketplaces, helping to further expand Tradeweb’s Asia Pacific
footprint.
“Tradeweb has seen a huge amount of growth outside of U.S. and
European markets with APAC leading much of that expansion,” said
Enrico Bruni, Head of Europe and Asia Business at Tradeweb.
“Tradeweb customers have been very positive about the acquisition,
which will allow them to express nuanced views that include
Australia and New Zealand as important parts of their global
strategies through the single Tradeweb interface.”
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
approximately 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
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. In particular, preliminary average
variable fees per million dollars of volume traded are subject to
the completion of management’s final review and our other financial
closing procedures and therefore are subject to change. 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 Willis Towers Watson Think Ahead Institute – Global Pension
Assets Study - 2023 2 Bank for International Settlements – Debt
Securities Statistics (table 3)
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version on businesswire.com: https://www.businesswire.com/news/home/20230830466228/en/
Media: Daniel Noonan, Tradeweb, +1 646 767 4677,
Daniel.Noonan@Tradeweb.com Eloise Doolan, Tradeweb, +44 7917 266
191, Eloise.Doolan@Tradeweb.com
Investors: Ashley Serrao, Tradeweb, +1 646 430 6027,
Ashley.Serrao@Tradeweb.com Sameer Murukutla, Tradeweb, +1 646 767
4864, Sameer.Murukutla@Tradeweb.com
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