Tradeweb Markets - TW STOCK NEWS

Tradeweb Markets reported strong Q3 2024 financial results with record quarterly revenues of $448.9 million, up 36.7% year-over-year. The company achieved $2.2 trillion in average daily volume (ADV), representing a 55.3% increase from the previous year. Net income reached $130.2 million, up 16.7%, while adjusted net income grew 37.1% to $179.3 million. The company maintained a solid adjusted EBITDA margin of 53.4%. Notable achievements included quarterly ADV records in U.S. government bonds, fully electronic U.S. high yield credit, credit derivatives, and global repurchase agreements. The company declared a $0.10 per share quarterly dividend and repurchased $25.0 million worth of shares.

Tradeweb Markets Inc. (Nasdaq: TW) has announced that FTSE Russell will incorporate Tradeweb FTSE benchmark closing prices for U.S. Treasuries, European Government Bonds, and UK Gilts in its global fixed income indices, including the World Government Bond Index (WGBI). This change, disclosed on October 8th, 2024, is expected to take effect in March 2025.

The WGBI, launched 40 years ago, measures the performance of investment-grade sovereign debt from over 25 countries, with a market value exceeding $30 trillion. Tradeweb's benchmark prices, administered by FTSE Russell, comply with EU and UK Benchmark Regulation and IOSCO Principles.

This inclusion validates Tradeweb's commitment to developing next-generation fixed income pricing and index trading products. Tradeweb also plans to expand electronic trading functionality for FTSE Russell Fixed Income indices and customized baskets, offering tools like RFQ, AiEX, and Portfolio Trading.

Tradeweb Markets Inc. (Nasdaq: TW) reported record total trading volume of $56.1 trillion for September 2024, with average daily volume (ADV) reaching $2.63 trillion, up 68.3% year-over-year (YoY). The third quarter of 2024 saw total trading volume of $147.5 trillion and ADV of $2.21 trillion, a 55.3% YoY increase.

Key highlights include:

• Record ADV in U.S. government bonds, fully electronic U.S. high grade credit, credit derivatives, and global repurchase agreements
• U.S. government bond ADV up 59.8% YoY to $232.2 billion
• Fully electronic U.S. credit ADV up 77.0% YoY to $8.6 billion
• Swaps/swaptions ≥ 1-year ADV up 73.1% YoY to $576.3 billion
• Repo ADV up 28.6% YoY to $681.0 billion

CEO Billy Hult noted strong organic growth and contributions from acquisitions of Yieldbroker, r8fin, and ICD.

Tradeweb Markets Inc. (Nasdaq: TW), a global operator of electronic marketplaces for various financial instruments, has announced its participation in the Goldman Sachs 2024 U.S. Financial Services Conference. CEO Billy Hult is scheduled to take part in a fireside chat on Tuesday, December 10, 2024, at 3:00 PM EST.

The company will provide a live webcast of the session through its investor relations website. Interested parties can access the webcast at https://investors.tradeweb.com/events-and-presentations. For those unable to attend the live event, a replay will be available at the same web address for approximately 180 days following the conclusion of the conference.

Tradeweb Markets Inc. (Nasdaq: TW), a leading global operator of electronic marketplaces for rates, credit, equities, and money markets, has announced the date for its third quarter 2024 financial results release. The company will publish its results on Wednesday, October 30, 2024, at approximately 7:00 AM EDT.

Following the release, Tradeweb will host a conference call for investors at 9:30 AM EDT on the same day. The call will feature CEO Billy Hult, CFO Sara Furber, and Head of Treasury, FP&A and IR Ashley Serrao, who will discuss the financial results and participate in a question-and-answer session.

Investors can access a live webcast of the conference call and related presentation materials at the Tradeweb investor relations website. An archived recording of the call will also be available afterward on the same site.

Tradeweb Markets Inc. (Nasdaq: TW) has appointed Daniel Maguire to its Board of Directors, effective September 18, 2024. Maguire, currently the Group Head of LSEG Markets and CEO of LCH Group, brings 25 years of financial services experience to the role. He has been instrumental in managing regulatory transitions, including the development of CCP and derivatives regulatory frameworks globally. Maguire's expertise spans various areas, including the implementation of the Dodd-Frank Act, the transition from LIBOR to SOFR, and managing Brexit's impact on financial markets.

Tradeweb CEO Billy Hult expressed enthusiasm about Maguire's appointment, highlighting his deep expertise in derivatives and regulatory matters as valuable assets for the company's growth and innovation strategies. Maguire's diverse experience, including his role in setting up LCH's U.S. operations and his current position on the Board of ISDA, is expected to contribute significantly to Tradeweb's expansion efforts.

Tradeweb Markets Inc. (Nasdaq: TW) reported record total trading volume of $50.9 trillion for August 2024, with average daily volume (ADV) reaching a record $2.21 trillion, up 53.9% year-over-year (YoY). Excluding the impact of the ICD acquisition, ADV increased by 35.7% YoY. Key highlights include:

- U.S. government bond ADV up 59.9% YoY to $228.2 billion
- European government bond ADV up 11.8% YoY to $36.8 billion
- Mortgage ADV up 32.3% YoY to $230.7 billion
- Fully electronic U.S. credit ADV up 33.2% YoY to $6.4 billion
- Repo ADV up 30.8% YoY to $643.5 billion

CEO Billy Hult attributed the record volumes to the strength of Tradeweb's platform and continued client trust. The company saw significant growth across key markets, particularly in U.S. government bonds and global repurchase agreements.

Tradeweb Markets Inc. (Nasdaq: TW) reported impressive trading volumes for July 2024, with total trading volume reaching $40.5 trillion and average daily volume (ADV) of $1.82 trillion, marking a 43.5% year-over-year increase. Key highlights include:

- U.S. government bond ADV up 47.4% YoY to $206.1 billion
- European government bond ADV up 16.5% YoY to $42.9 billion
- Mortgage ADV up 17.6% YoY to $196.8 billion
- Swaps/swaptions ≥ 1-year ADV up 38.9% YoY to $351.5 billion
- Fully electronic U.S. credit ADV up 38.3% YoY to $6.7 billion
- Repo ADV up 25.3% YoY to $621.8 billion

Tradeweb's performance was driven by increased client adoption across various protocols, favorable market conditions, and strong institutional client activity.

Tradeweb Markets Inc. (Nasdaq: TW) has completed its $785 million all-cash acquisition of Institutional Cash Distributors (ICD), a leading investment technology provider for corporate treasury organizations. This strategic move adds corporate treasury professionals as Tradeweb's fourth client channel, complementing its existing institutional, wholesale, and retail focus. The acquisition gives Tradeweb access to a $2+ billion addressable market and is expected to be accretive to adjusted earnings per share over the next 12 months.

ICD, one of the largest U.S. institutional money market fund portals, serves over 500 corporate treasury organizations across 65 industries and 45+ countries. As part of Tradeweb, ICD will enhance its offerings with Tradeweb's suite of products, enabling clients to optimize yield, duration, and manage liquidity needs and FX risk. Tradeweb aims to leverage its international presence to accelerate ICD's growth and expansion.