Tradeweb Boosts Footprint In Fast Growing Australia & New Zealand Trading Market, Closes Yieldbroker Buyout

Tradeweb Markets Inc TW closed the previously announced buyout of Yieldbroker for A$125 million in an all-cash transaction.

Yieldbroker is a trading platform for Australian and New Zealand government bonds and interest rate derivatives covering the institutional and wholesale client sectors.

This deal boosts TW's footprint in Australia and New Zealand's fast-growing markets. Also, its international client base can now access Yieldbroker's Australian and New Zealand bond and derivative marketplaces and pre-trade pricing data offering. 

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The transaction will leverage the companies' trading solutions and industry experience to facilitate more liquid, transparent, and efficient fixed-income markets.

"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," said Tradeweb CEO Billy Hult.

As of June 30, 2023, TW had cash and cash equivalents of $1.4 billion and an undrawn $500 million credit facility. 

Price Action: TW shares closed higher by 0.69% at $86.60 on Wednesday.