Press release
Tradeweb to Acquire Algorithmic Technology Provider r8fin
Acquisition Will Further Enhance and Differentiate Tradeweb Intelligent Execution Capabilities in Fixed Income and Futures NEW YORK--(BUSINESS WIRE)--
About this update from Tradeweb Markets Inc.
[{"type":"text","content":"\nAcquisition Will Further Enhance and Differentiate Tradeweb Intelligent Execution Capabilities in Fixed Income and Futures\n\n\n NEW YORK--(BUSINESS WIRE)--\nTradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced that it has entered into a definitive agreement to acquire r8fin, a technology provider that specializes in algorithmic-based execution for U.S. Treasuries and interest rate futures.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231115213638/en/Tradeweb CEO Billy Hult (Photo: Business Wire)\nFounded in 2016 in Chicago, r8fin provides a suite of algorithmic-based tools as well as a thin-client execution management system (EMS) trading application to facilitate futures and cash trades. The solutions complement Tradeweb’s existing Dealerweb Active Streams, Dealerweb Central Limit Order Book (CLOB), Tradeweb Request-for-Quote (RFQ) and Tradeweb AiEX (Automated Intelligent Execution) offerings, creating a valuable and broad-based approach to trading U.S. Treasuries and related futures trading.\n\n\nTradeweb expects the acquisition to modestly enhance revenue growth, operating margins and be accretive to 2024 earnings per share. The acquisition is expected to close in the first quarter of 2024 subject to customary closing conditions and receipt of regulatory approvals.\n\n\nTradeweb CEO Billy Hult commented: “r8fin technology will help Tradeweb reach a new and differentiated level of intelligent execution through a powerful combination of algorithmic technology and cross-market connectivity. This marks another step forward in the execution of our vision to deliver an integrated product suite for accessing the U.S. Treasury market through multiple liquidity pools across cash and futures. Beyond that, as we look ahead, we believe pairing r8fin’s sophisticated technology with our global network will open up a range of new possibilities for clients engaged in relative value or macro trades spanning multiple asset classes.”\n\n\nr8fin has a client base that includes 65 relative value hedge funds, systematic hedge funds, professional trading firms and primary dealers. r8fin technology facilitates algorithmic-based execution for an average of more than $23 billion notio...