Tradeweb Closes Completion of Yieldbroker Acquisition

Tradeweb Markets LLC (Tradeweb), a world's leading operator of electronic marketplaces for rates, credit, equities and money markets, today announced the completion of the 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.

Tradeweb revealed in April that it was in talks with Australian Securities Exchange (ASX)​ to acquire Yieldbroker. ASX, a Yieldbroker shareholder since 2014, owns about 43% shares in Yieldbroker, while the remaining shares are owned by various domestic and international banks, as well as current and former employees of Yieldbroker.

In late May, the ASX agreed to sell all of its interest in Yieldbroker to Tradeweb​. The final transaction price was A$125 million in cash, the same as expected.

Billy Hult, CEO of Tradeweb, said: "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. 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."

Anthony Robson, CEO of Yieldbroker, said: "Yieldbroker's deep understanding of Australia and New Zealand, and the unique features that make these markets so important, are truly unmatched. 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."

Enrico Bruni, Head of Europe and Asia Business at Tradeweb, added: "Tradeweb has seen a huge amount of growth outside of U.S. and European markets with APAC leading much of that expansion. 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."