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Tradeweb Files for Initial Public Offering With CFTC

Trade Web Initial Public OfferingThe net proceeds from the offering will be used to purchase equity interests from certain existing owners, although Refinitiv will continue to own a controlling interest in the company following the Initial Public Offering.

Tradeweb Markets has filed a registration statement on Form S-1 with the Securities and Exchange Commission for a proposed initial public offering of its Class A common stock, according to a press release.

The global operator of electronic marketplaces for rates, credit, money markets and equities has not yet determined the number of shares to be offered and the price range for the offering, but its common stock is intended to be listed on the NASDAQ Global Select Market under the ticker symbol “TW.”

TradeWeb has selected J.P. Morgan, Citigroup, Goldman Sachs & Co. LLC and Morgan Stanley to act as the joint book-running managers for the offering, which has been filed with the Securities and Exchange Commission but has not yet become effective.

Tradeweb a world leader in building and operating electronic over-the-counter marketplaces. Since 1998 the company has helped transform the way that business gets done in the fixed income and derivatives markets. Tradeweb’s position as the hub of electronic trading in fixed income and derivatives business has been made possible through a longstanding partnership with the industry.

The firm is a member of CFTC’s Technology Advisor Committee, which is made up of twenty-nine members and includes CME, ICE, and NASDAQ, Goldman Sachs, Blackrock, and Bloomberg, as well as LedgerX and Fidessa.

Dealerweb, the company’s wholesale and inter-dealer trading division, has recently striked a deal with Thomson Reuters to enhance its U.S. Treasury and Interest Rate Swaps pricing solution by providing its fixed-income trading clients with a global rates offering to further enable their trading decisions.
Tradeweb’s plans to go public come five months after being acquired as part of a $17 billion buyout of Refinitiv, between Blackstone and Thomson Reuters.. Tradeweb’s initial offering size for the IPO is $100 million, but could be worth more than $5 billion in an IPO, Bloomberg found. In 2018, net income rose from $83.6 million to $159.5 million and revenue increased from $563 million to $684.4 million.