Tradeweb Completes Acquisition of Technology Provider r8fin
22 Januar 2024 - 1:30PM
Business Wire
Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator
of electronic marketplaces for rates, credit, equities and money
markets today announced it has completed its acquisition of r8fin,
a technology provider that specializes in algorithmic-based
execution for U.S. Treasuries and interest rate futures. The
transaction was announced in November 2023.
Integrating r8fin’s intelligent execution capabilities into
Tradeweb’s leading electronic trading platform for U.S. Treasuries
will help clients take a broad-based approach to trading U.S.
Treasury bonds and related futures.
Tradeweb CEO Billy Hult commented: “We are developing an
integrated approach to accessing the U.S. Treasury market through
multiple liquidity pools across cash and futures – and r8fin is an
important part of that approach. This acquisition is very much in
Tradeweb’s wheelhouse, and we believe it represents a meaningful
step forward in how electronic trading can unlock new possibilities
for relative value hedge funds and other clients. We are also
pleased to welcome r8fin co-founder Assad Fehmy to Tradeweb.”
Tradeweb expects the acquisition to modestly enhance revenue
growth, operating margins and be accretive to 2024 earnings per
share.
r8fin provides a suite of algorithmic-based tools as well as a
thin-client execution management system (EMS) trading application
to facilitate futures and cash trades. r8fin has a client base that
includes 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
$24 billion notional in U.S. Treasuries and 375,000 futures
contracts per day in 2023.
Tradeweb is the leading electronic trading platform for U.S.
Treasuries, with a broad and deep network that spans institutional,
wholesale and retail markets. Tradeweb launched the first
multi-dealer online marketplace for U.S. Treasuries 25 years ago,
and in 2023 facilitated an average of $146 billion per day in U.S.
Treasury trading.
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 50 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 2,700 clients in more than 70 countries. On average, Tradeweb
facilitated more than $1.4 trillion in notional value traded per
day over the past four 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. 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
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Any forward-looking statement that we make in this release
speaks only as of the date of such statement. Except as required by
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version on businesswire.com: https://www.businesswire.com/news/home/20240122699154/en/
Media: Daniel Noonan, Tradeweb +1 646 767 4677
Daniel.Noonan@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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