Tradeweb Completes Acquisition of Yieldbroker

Rhea-AI Summary

Tradeweb Markets Inc. completes acquisition of Yieldbroker, expanding its reach in Australian and New Zealand markets.

Positive

• Acquisition combines highly attractive, fast-growing markets with Tradeweb's international reach and scale.
• Yieldbroker's deep understanding of Australia and New Zealand provides unique opportunities for Tradeweb clients worldwide.
• Tradeweb customers gain access to Australia and New Zealand's growing bond and derivatives marketplaces, expanding Tradeweb's Asia Pacific footprint.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- 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)

View source 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

Source: Tradeweb Markets Inc.