By Markets Media

Tradeweb Prices IPO

04.04.2019 By Markets Media

Tradeweb Markets raised $1.08 billion in an initial public offering, pricing 40 million shares at $27.

Shares of the operator of electronic marketplaces for rates, credit, equities and money markets are expected to begin trading on Nasdaq today under the ticker TW.

Tradeweb is going public with considerably less fanfare than Lyft, the ride-sharing service that hit the public markets last week. But while Lyft is a household name in the B2C space, Tradeweb is an important platform for institutional traders in financial markets.

Tradeweb is a survivor in a space that has continually evolved and transformed, and trading platforms come and go. The firm was formed in 1997 and launched the first multi-dealer online marketplace for U.S. Treasuries in 1998; last year, its average trading volume topped $500 billion for the first time.

Proceeds from the IPO will go to purchase equity interests from certain existing bank stockholders. Refinitiv will continue to own a controlling interest in Tradeweb following the offering.

Related articles

  1. M&A activity had the slowest opening six months in two years.

  2. Daily Email Feature

    TRACE Turns 20

    Stephanie Dumont and Ola Persson of FINRA reflect on advances in fixed income transparency.

  3. Investors lack confidence in fixed income data and believe only half is really reliable.

  4. Consortium is creating the first open market electronic trading platform for syndicated loans and CLOs.

  5. Buy-side users can access Tradeweb’s RFQ process while strengthening relationships with diverse dealers.