Tradeweb finalises acquisition of Yieldbroker
31 August 2023 US
Image: Dontree/stock.adobe.com
Tradeweb Markets has completed its acquisition of Yieldbroker, an Australian trading platform for government bonds and interest-rate derivatives in Australia and New Zealand.
The AUD 125 million (£63.7 million) all-cash transaction was first announced by Tradeweb in April 2023.
Tradeweb says the acquisition will further assist the expansion of its footprint in the Asia Pacific region.
The acquisition presents Tradeweb clients with access to Australia and New Zealand’s institutional and wholesale client market sectors. Tradeweb itself operates electronic marketplaces for rates, credit, equities and money markets.
Conversely, Yieldbroker’s client network will gain access to Tradeweb’s multi-asset marketplace, liquidity and technology.
Yieldbroker also offers an electronic auction platform to conduct primary auctions in Australian and New Zealand government bonds.
The firm, founded in 1999, will now operate as part of a single Tradeweb team based in Sydney.
Billy Hult, CEO of Tradeweb, says: “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 [...] We are exceedingly well-positioned to seamlessly connect markets in Australia and New Zealand with our global network of clients and dealers.”
Yieldbroker CEO Anthony Robson adds: “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.”
The AUD 125 million (£63.7 million) all-cash transaction was first announced by Tradeweb in April 2023.
Tradeweb says the acquisition will further assist the expansion of its footprint in the Asia Pacific region.
The acquisition presents Tradeweb clients with access to Australia and New Zealand’s institutional and wholesale client market sectors. Tradeweb itself operates electronic marketplaces for rates, credit, equities and money markets.
Conversely, Yieldbroker’s client network will gain access to Tradeweb’s multi-asset marketplace, liquidity and technology.
Yieldbroker also offers an electronic auction platform to conduct primary auctions in Australian and New Zealand government bonds.
The firm, founded in 1999, will now operate as part of a single Tradeweb team based in Sydney.
Billy Hult, CEO of Tradeweb, says: “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 [...] We are exceedingly well-positioned to seamlessly connect markets in Australia and New Zealand with our global network of clients and dealers.”
Yieldbroker CEO Anthony Robson adds: “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.”
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