e-Trading Platform Yieldbroker Offered For A$125 M By Tradeweb

Market for fixed income Yieldbroker is a trading tool for Australian government bonds and interest rate derivatives. Tradeweb is in talks to buy it.

The price for the sale is A$125 million, with no cash and no debts. The proposed deal has been accepted by the Yieldbroker board as a whole.

About 43% of Yieldbroker is owned by ASX. Some domestic and foreign banks, as well as current and former Yieldbroker employees, own the rest of the shares.

Tradeweb says in a statement about the talks:

“We believe this transaction would leverage both firms’ innovative trading solutions and deep industry experience to create more liquid, transparent and efficient fixed income markets. This acquisition would provide Yieldbroker’s domestic client network, including superannuation funds, with access to Tradeweb’s global multi-asset platform, deep liquidity and advanced technology. Conversely, Tradeweb customers worldwide would benefit from increased liquidity, pre-trade transparency, and coverage of the Australian and New Zealand debt capital markets.”

“Australia is home to the 5th 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.”