Multi-asset market operator Tradeweb Markets has completed its acquisition of Yieldbroker, an Australian trading platform for Australian and New Zealand government bonds and interest rate derivatives covering the institutional, wholesale and primary segments.
The A$125 million all-cash transaction was announced in May 2023.
Billy Hult, CEO of Tradeweb, said: “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. 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 said: “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.”
Yieldbroker’s dealer-to-client (D2C) and dealer-to-dealer (D2D) institutional and wholesale marketplace has operated as an electronic trading platform for domestic customers in Australian and New Zealand debt securities. Australia is currently the fifth largest pension fund market globally and has the twelfth largest sovereign bond market. The Yieldbroker platform facilitates trading of approximately A$6 trillion annually.
Australian institutions, including superannuation funds, will now have access to Tradeweb’s liquid, global, multi-asset platform while Tradeweb’s international client base should be able to tap into Yieldbroker’s Australian and New Zealand bond and derivative marketplaces, as well as the firm’s pre-trade pricing data offering.
©Markets Media Europe 2023
