Electronic fixed-income trading venue operator Tradeweb has filed for an initial public offering confidentially, according to news reports.

The business, which is co-owned by Thomson Reuters and Refinitiv, could be expected to fetch as much as $4 billion, according to reports an unnamed source told Bloomberg.

Such a move has been scuttlebutt on the Street since Refinitiv CEO David Craig said such a move was an option for the business, the Financial News reported in October 2018.

Approximately a month later, Refinitiv and Tradeweb renewed a multi-year data re-distribution agreement that would provide users of Refinitiv various platforms with Tradeweb’s institutional, wholesale, and retail markets.

Bloomberg’s reportage also noted that the current partial shutdown of the US Federal government might delay the IPO as it has it could depress stock prices as well as mergers and acquisitions.