Tradeweb in advanced takeover talks with Aussie trading platform Yieldbroker
Tradeweb Markets is in “advanced discussions” to acquire Aussie government bond and interest rate derivatives trading platform Yieldbroker.
Tradeweb in “advanced discussions” to acquire Yieldbroker
The deal, which Tradeweb anticipates will be an all-cash transaction worth AUD 125 million ($84m) and which remains subject to Yieldbroker stockholder approval, would create “more liquid, transparent and efficient fixed income markets”, Tradeweb says.
The company adds that Yieldbroker, which covers institutional, wholesale and primary markets, will benefit from access to Tradeweb’s global multi-asset platform, deep liquidity and technology.
In turn, Tradeweb customers worldwide will also benefit from increased liquidity, pre-trade transparency and coverage of the Australian and New Zealand debt capital markets.
“Australia is home to the fifth largest pension fund market globally, and we believe that this acquisition would help grow Tradeweb’s Asia Pacific footprint and provide meaningful opportunities for domestic and global clients,” the firm says.
Founded in 1996, Tradeweb is an operator of electronic marketplaces for rates, credit, equities and money markets. It provides access to markets, data and analytics, electronic trading, straight-through-processing and reporting.
The company serves approximately 2,500 clients in more than 65 countries and claims to have facilitated more than $1.1 trillion in notional value traded per day over the past four quarters.
