Tradeweb Reportedly Files for IPO
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.
RBC Capital Markets paid more than $800,000 to resolve charges that it engaged in unfair dealing in munis.
Electronification of the municipal bond market also presents a large opportunity.
The success of Northbound trading showed electronic execution is way forward for the bond market.
IRS trading volumes have fragmented without an equivalence agreement.
Increased electronification has created useable and accessible real-time and historic trade data.