Tradeweb Markets is expected to acquire Yieldbroker, an Australian government bond and interest rate derivatives trading platform for AUD125 million.
Yieldbroker covers the institutional, wholesale and primary markets. Tradeweb is a marketplace for rates, credit, equities and money markets.
The mandate is expected to draw on both firms’ trading solutions and industry experience to create more liquid, transparent and efficient fixed income markets.
Tradeweb customers would also benefit from pre-trade transparency and coverage of the Australian and New Zealand debt capital markets, the firm says.
It adds that the acquisition would provide Yieldbroker’s domestic client network, including superannuation funds, with access to its global multi-asset platform, liquidity and technology.
A spokesperson for Tradeweb says: “Australia is home to the fifth-largest pension fund market globally, and we believe that this acquisition would help grow Tradeweb’s Asia Pacific footprint and provide meaningful opportunities for domestic and global clients.
“Tradeweb can offer no assurance that a definitive agreement will be entered into, or if entered into that a transaction will be consummated. The potential deal remains subject to Yieldbroker stockholder approval, final definitive documentation and would be subject to customary closing conditions and regulatory reviews.”
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