Tradeweb Completes Yieldbroker Deal

Tradeweb Markets says it has successfully completed its $125 million deal to buy Australian interest rate and bond trading platform Yieldbroker, first announced in May 2023.

In bringing together the two platforms, the firms say Yieldbroker’s client network will benefit from Tradeweb’s global multi-asset marketplace, liquidity and technology. Meanwhile, Tradeweb customers worldwide will gain access to Australia and New Zealand’s growing bond and derivatives marketplaces, helping to further expand Tradeweb’s Asia Pacific footprint.

“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,” says Tradeweb CEO Billy Hult. “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.”

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.”

Attention does seem to be focused on the Australian interest rate markets, the country has the world’s fifth largest pension fund market is the 12^th biggest sovereign bond markets, and just last week Fenics unveiled a new service aimed at providing market data from executable pricing, rather than indicative.

This is a point reinforced by Enrico Bruni, head of Europe and Asia business at Tradeweb, who says, “Tradeweb has seen a huge amount of growth outside of US 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 interface.”