Tradeweb acquires Aussie trading platform Yieldbroker in AU$125m deal
Electronic marketplaces operator Tradeweb has acquired Aussie trading platform Yieldbroker in an all-cash deal worth AUD 125 million ($82 million), expected to close later this year.
Yieldbroker snapped up by Tradeweb
Tradeweb’s marketplaces cover rates, credit, equities and money markets while Yieldbroker is a trading platform for Australian and New Zealand government bonds and interest rate derivatives covering the institutional, wholesale and primary segments.
The deal will see both firms leverage their trading solutions and industry expertise to create “more liquid, transparent and efficient” fixed income markets.
Tradeweb CEO Billy Hult says the deal will allow the firm to add “significant value” for Aussie and New Zealand bond and derivatives customers.
Australia is home to the fifth largest pension fund market and the twelfth largest sovereign bond market. The Yieldbroker platform claims to facilitate trading of approximately AUD 6 trillion annually.
Australian institutions, including superannuation (employer-sponsored retirement account) funds, will gain enhanced access to Tradeweb’s liquid, global, multi-asset platform.
Tradeweb’s international client base will be able to tap into Yieldbroker’s Australian and New Zealand bond and derivative marketplaces, as well as the firm’s pre-trade pricing data offering.
