Tradeweb in Talks to Buy Australian E-Trading Platform Yieldbroker

Tradeweb Markets Inc. (Tradeweb), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, disclosed yesterday that it is in talks to buy Yieldbroker, a leading Australian government bond and interest rate derivatives trading platform covering the institutional, wholesale, and primary markets.

Tradeweb expects the acquisition to be an all-cash transaction with a purchase price of AUD 125 million. And it notes that there can be no assurance that a definitive agreement will be entered into.

"We believe this transaction would leverage both firms’ innovative trading solutions and deep industry experience to create more liquid, transparent and efficient fixed income markets," said Tradeweb in an announcement. "We believe that this acquisition would help grow Tradeweb’s Asia Pacific footprint and provide meaningful opportunities for domestic and global clients."

Following the deal, Yieldbroker’s domestic client network, including superannuation funds, would be able to access Tradeweb’s global multi-asset platform, deep liquidity and advanced technology. Besides, Tradeweb customers worldwide would benefit from increased liquidity, pre-trade transparency, and coverage of the Australian and New Zealand debt capital markets.

Currently, the potential deal remains subject to Yieldbroker stockholder approval.

Tradeweb recorded the total revenue of $329.2 million for the quarter ended March 31, 2023​, an increase of 5.7% compared to $311.5 million in Q1 2022. While on a constant currency basis, the yearly change came in at 7.5%.