Tradeweb to Acquire Algorithmic Technology Provider r8fin
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Acquisition Will Further Enhance and Differentiate Tradeweb Intelligent Execution Capabilities in Fixed Income and Futures
Tradeweb CEO Billy Hult (Photo: Business Wire)
Founded in 2016 in
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
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
Tradeweb is the leading electronic trading platform for
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
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
Source: Tradeweb Markets Inc.
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