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M&A Deal Summary

Tradeweb Markets Acquires Nasdaq Fixed Income

On June 22, 2021, Tradeweb Markets acquired financial services company Nasdaq Fixed Income from Nasdaq for 190M USD

Acquisition Highlights
  • This is Tradeweb Markets’ 2nd transaction in the Financial Services sector.
  • This is Tradeweb Markets’ 3rd largest (disclosed) transaction.
  • This is Tradeweb Markets’ 3rd transaction in the United States.
  • This is Tradeweb Markets’ 2nd transaction in New York.

M&A Deal Summary
Date 2021-06-22
Target Nasdaq Fixed Income
Sector Financial Services
Buyer(s) Tradeweb Markets
Sellers(s) Nasdaq
Deal Type Divestiture
Deal Value 190M USD

Target

Nasdaq Fixed Income

New York, New York, United States
Nasdaq Fixed Income is a U.S. fixed income electronic trading platform that provides a fully executable central limit order book (CLOB) for the on-the-run U.S.

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Buyer(S) 1

Buyer

Tradeweb Markets

New York, New York, United States
Category Company
Founded 1996
Sector Financial Services
Employees1,179
Revenue 1.3B USD (2023)
DESCRIPTION

Tradeweb Markets is building and operating electronic over-the-counter marketplaces. Tradeweb offers institutional, wholesale and retail market participants unparalleled liquidity, advanced technology and a broad range of data solutions that deliver better price discovery, order execution and trade workflows Tradeweb Markets was founded in 1996 and is based in New York, New York.

DEAL STATS #
Overall 3 of 6
Sector (Financial Services) 2 of 2
Type (Divestiture) 1 of 1
State (New York) 2 of 2
Country (United States) 3 of 5
Year (2021) 1 of 1
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-02 CodeStreet

New York, New York, United States

CodeStreet LLC is a provider of fixed income front-office solutions to enhance riskless and risk-reducing business for the world's largest global banks and regional dealer community.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-26 Yieldbroker

Sydney, Australia

Yieldbroker is an Australian government bond and interest rate derivatives trading platform covering the institutional, wholesale, and primary markets. Yieldbroker is based in Sydney, Australia.

Buy AU$125M

Seller(S) 1

SELLER

Nasdaq

New York, New York, United States
Category Company
Founded 1971
Sector Financial Services
Employees6,377
Revenue 6.1B USD (2023)
DESCRIPTION
Nasdaq OMX office in Stockholm.
Nasdaq OMX office in Stockholm.

Nasdaq is an exchange company. With so many listed companies, it delivers trading, exchange technology and public company services across six continents. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market; the OMX Nordic Exchange, including First North; and the 144A PORTAL Market. Nasdaq was founded in 1971 and is based in New York, New York.

DEAL STATS #
Overall 7 of 9
Sector (Financial Services) 1 of 3
Type (Divestiture) 6 of 8
State (New York) 3 of 4
Country (United States) 5 of 7
Year (2021) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 Puro.earth

Helsinki, Finland

Puro.earth is a B2B marketplace, standard, and registry focused solely on carbon removal. Puro.earth provides carbon removal as a service, through identifying suppliers, verifying their carbon removals and issuing CO2 Removal Certificates (CORCs), an integral part of long-term procurement portfolios to fulfill net-zero pledges. Puro.earth was founded in 2018 and is based in Helsinki, Finland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-02 LeveL ATS

Boston, Massachusetts, United States

LeveL ATS is an independently operated US Equity Dark Pool trading execution and technology provider focused on delivering efficient, low-cost trading while minimizing market impact and information leakage. LeveL ATS was founded in 2006 and is based in Boston, Massachusetts.

Buy -
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