Tradeweb - Wikipedia

Tradeweb Markets Inc. (Tradeweb) is an international financial services company that builds and operates electronic over-the-counter (OTC) marketplaces for ... Tradeweb FromWikipedia,thefreeencyclopedia Jumptonavigation Jumptosearch Americanfinancialservicescompany Thisarticlereadslikeapressreleaseoranewsarticleandislargelybasedonroutinecoverageorsensationalism.PleaseexpandthisarticlewithproperlysourcedcontenttomeetWikipedia's qualitystandards,eventnotabilityguideline,orencyclopediccontentpolicy.(November2021) TradewebMarketsInc.TypePubliccompanyTradedasNasdaq: TW(ClassA)Russell1000componentIndustryFinancialmarketsFinancialservicesFounded1998;24 yearsago (1998)FoundersLeeOleskyJimToffey[1]HeadquartersNewYork,NewYork,U.S.KeypeopleLeeOlesky,Chairman,Co-FounderandCEOBillyHult,PresidentandCEO-elect[1]ProductsBondsDerivativesEquities[2]RevenueUS$1.1billion (2021)OperatingincomeUS$358.83million (2021)NetincomeUS$273.1million (2021)Numberofemployees1,046 (2021)Websitetradeweb.comFootnotes /referenceshttps://investors.tradeweb.com/node/9731/html TradewebMarketsInc.(Tradeweb)isaninternationalfinancialservicescompanythatbuildsandoperateselectronicover-the-counter(OTC)marketplacesfortradingfixedincomeproducts,ETFs,andderivatives.Thecompanywasco-foundedin1996byLeeOleskyandJimToffey.[2][3]Itscustomersincludebanks,assetmanagers,centralbanks,pensionfundsandinsurancecompanies.[4] Tradeweb'sheadquartersareinNewYorkCity. Contents 1History 2Management 3Seealso 4References 5Externallinks History[edit] Tradewebwaslaunchedin1998,creatingthefirstmulti-dealeronlinetradingnetworkforU.S.Treasuries.In2000,thefirmopeneditsLondonofficeandlaunchedmarketplacesfortradingEuropeangovernmentbondsandagencies. Thefirmwasprivatelyhelduntil2004,whenitwasacquiredbyThomsonCorporation(nowThomson-Reuters)for$535million.[5]TradewebestablisheditsTokyoofficein2005,startingapartnershipwithCanDealtolaunchCanadiandebtsecuritiestrading.[6]Thatyear,thefirmgrewbyintroducingmarketplacesforinterestrateswaps,creditdefaultswapindices,andrepo. In2006,TradewebRetailwasestablishedasthefirmenteredtheretailfixedincomemarketplacethroughtheacquisitionofLever-Trade,aproviderofweb-basedfixedincomemanagementsystemsfortheretailmarketplace.[7]In2007,ThomsonFinancial,aunitofThomson,announceditsplanstoexpandelectronictradingbycreatingastrategicpartnershipwithnineotherglobaldealersthroughTradeweb,valuingthecompanyat$1.55billion.[8] In2008,OleskybecameCEO.[9]Thatsameyear,thefirmacquiredbrokeragefirmHilliardFarber&Co.Inc.[10]In2009,itlaunchedDealerweb,anelectronicinterdealerplatformforto-be-announced,orforward,mortgage-backedsecurities(TBA-MBS).[11]In2010,itfacilitatedthefirstfullyelectronic,dealer-to-customerinterestrateswaptobeprocessedbyacentralclearinghouseintheU.S.[12] In2011,itacquiredthebrokerageassetsofRaffertyCapitalMarketsLLC(RaffCap)andthemunicipalbondbrokingbusinessofJ.J.KennyDrake.[13]In2013,thefirmsecuredCFTCtemporaryapprovaloftwowhollyownedswapexecutionfacilities(SEFs)TWSEFandDWSEF.[14]LiveSEFtradingontheplatformsbeganonOctober2,2013.[15]InNovember2013,thefirmacquiredBondDeskGroup,abondtradingvenueintheU.S.foradvisorsandmiddlemarketinvestors,andintegratedthebusinesses,technology,servicesandsupportofitsexistingTradewebRetailtradingplatformwithBondDesk,andrebrandedthecombinedserviceTradewebDirect.[16] InMay2014,TradewebandBlackRockannouncedastrategicpartnershipinelectronictradinginratesandderivativesmarketsforBlackRock'sAladdinclients.[17]InJune2014,TradeweblaunchedactiveU.S.TreasurybondtradingontheDealerwebplatform,supportingtradingofthemostliquidon-the-runTreasurybondswithparticipationfromdealersandseveralelectronicmarket-makingfirms.[18]InOctober2014,thecompanyannouncedthelaunchofitsU.S.institutionalcorporatebondplatform.[19] InFebruary2016,TradeweblaunchedanOTCmarketplaceforU.S.-listedETFsaimedatinstitutionalinvestors.InMarch2016,thecompanyacquiredCodeStreetLLC.[20][21]InOctober2016,Tradeweb,alongwithFTSERussell,wasnamedaproviderofGiltandTreasuryBillend-of-dayreferencepricingbytheU.K.Treasury.[22]Thesamemonth,thefirmbecameoneoffourelectronictradingplatformstolaunchtheElectronicDebtMarketsAssociationEurope(EDMAEurope),whichwasformedtodevelopandpromotecollectivememberviewsonregulatorydevelopmentsaffectingelectronicfixedincometradingvenuesinEurope.[23][24][25][26] InJanuary2017,thefirmannouncedthelaunchofanApprovedPublicationArrangement(APA)servicetoallowmarketparticipantstomeetpost-traderequirementsmandatedbytheMarketsinFinancialInstrumentsDirective(MiFID)II.[27] InMarch2017,CitadelSecuritiesbecamealiquidityproviderontheTradewebinstitutionalU.S.Treasurymarketplace,expandingitsroleontheplatformbeyondIRS,CDSindices,andU.S.ETFs.[28]Thefirmannouncedthelaunchofall-to-alltradingonitsU.S.institutionalcreditplatforminApril,enablingclientstotradewithmorethan130dealers.[29]InJune2017,itbecamethefirstoffshoretradingplatformtoconnectwithChinaForeignExchangeTradeSystem(CFETS),allowinginvestorsoutsideofChinatoinvestintheChinaInterbankBondMarketforthefirsttime.[30]In2017,thefirmalsomadeastrategicinvestmentinDealVector,Inc.,afixedincomeassetregistryandcommunicationplatform.[31][32] InMay2018,TradewebpartneredwithPlatotolauncheBlock,aEuropeancashequitiesblocktradingplatform.[33]InAugust2018,itlaunchedanRFQplatformforUSequityoptionsallowingtraderstosendmultiplepricerequeststomultipleliquidityproviders.[34] TradewebtenderedanIPOonApril3,2019.[35]AccordingtoBloomberg,itsofferingwasthebest-performingIPOexceeding$1billionfor2019.[36]Alsoin2019,theFederalHousingFinanceAgencyannounceditwaspartneringwithTradewebtobegintradingasinglesecurityformortgagesbackedbyFannieMaeandFreddieMac.[37][38]InSeptember2019,TradewebandIntercontinentalExchangelaunchedTradewebICEU.S.TreasuryClosingPrices,whichcalculatesandpublishesmorethan900Treasurysecuritiespricesdaily,[39]andinOctoberthefirmexpandedportfoliotradingforcorporatebonds.[40]In2020,thefirm'saveragedailytradingvolumeacrossallassetclassesexceeded$837billion.[41] InJune2021,TradewebacquiredNasdaq’sU.S.fixedincomeelectronictradingplatform,formerlyknownaseSpeedfor$190millionincash.[42] Management[edit] LeeOleskyisthecurrentChairmanandCEOofTradeweb;hewaspreviouslyChiefOperatingOfficerforCreditSuisseFirstBoston(CSFB)'sFixedIncomeAmericasdivision.[43]WhileatCSFB,OleskycompletedtheinitialbusinessplanforintroducinginstitutionalelectronictradingofU.S.securitiesin1996.AfterlaunchingTradewebin1998andservingaschairman,OleskyleftCSFBandco-foundedBrokerTecGlobal,acompetingtradingplatform.HerejoinedTradewebasPresidentin2002andbecameCEOin2008.[9] BillyHulthasbeenpresidentofTradewebsince2008andhasbeenelectedasnextCEOeffectiveJanuary1,2023.[44]Hejoinedthefirmin2000fromSociétéGénérale.[45] Seealso[edit] BloombergL.P. CMEGroup MarketAxess Nasdaq References[edit] ^"Leadership,"Companywebsite,retrievedJune13,2020. ^JanetWhitmanandAgnesT.Crane,"ThomsonSignsAnAgreementToBuyTradeWeb,"TheWallStreetJournal,April9,2004. ^Weinberg,Neil(10September2001)."B2BGrowsUp".Forbes.com.Retrieved6April2015. ^"TradewebInstitutional".www.tradeweb.com.Retrieved24November2021. ^RiskMagazine(1May2004)."ThomsonAnnouncesTradewebAcquisition".Risk.Retrieved14January2015. ^Carbonnier,Jean-Paul(26September2006)."TradewebPartnerswithCanDeal".Risk.Retrieved29January2015. ^Kutler,Jeffrey(24July2006)."ThomsonTradeWebBuysLeverTradeasRetailEntryPoint".SecuritiesTechnologyMonitor.Retrieved29January2015. ^Schmerken,Ivy(10October2007)."ThomsonPlanstoSpinOffTradeweb".WallStreet&Technology.Retrieved14January2015. ^ab"The2016Tech50:LeeOlesky,"InstitutionalInvestor,July18,2016. ^Wolfe,Daniel(6November2008)."TradewebAcquiresHilliardFarber".AmericanBanker.Retrieved11June2020. ^Elder,Bryce;Hume,Neil(21April2009)."IcapHurtbyBanks'Platform".FinancialTimes.Retrieved14January2015. ^Burne,Katy(18November2010)."TradewebDeliversMilestoneinElectronicSwapsTrade".TheWallStreetJournal.Retrieved14January2015. ^Reuters(11October2011)."TradewebBuysBrokerage;PlansTreasuryTradingPlatform".Reuters.Retrieved29January2015. ^Schmerken,Ivy(23September2013)."CFTCPutsSEFApprovalsontheFastTrack".WallStreet&Technology.Retrieved29January2015. ^Puaar,Anish(14October2013)."USBuysideAdoptsCautiousApproachtoSwapsPlatforms".FinancialNews.Retrieved29January2015. ^Thomases,Jake(1November2013)."TradewebRevampsRetailFixedIncomewithBondDeskBuy".WatersTechnology.Retrieved29January2015. ^Mackenzie,Michael(14May2014)."BlackRockSignalsBondTradingShake-Up".FinancialTimes.Retrieved29January2015. ^Mackenzie,Michael(5June2014)."DealerwebLaunchShakesUpTreasuryTrading".FinancialTimes.Retrieved29January2015. ^Leising,Matthew(29October2014)."BondMarketOverhaulRequiresPatienceforTradewebCEO".Bloomberg.Retrieved11December2014. ^"Tradeweb-CodeStreetDealAimstoPoolLiquidity-MarketsMedia".marketsmedia.com.4March2016.Retrieved6December2016. ^"TradewebMarketsLLCAcquiresCodeStreetLLC ::Tradeweb".www.tradeweb.com.Retrieved6December2016. ^"UKTreasuryoptsforTradewebandFTSERussellforend-of-dayreferencepricing,"TheTRADE,October11,2016. ^Cave,Tim(13October2016)."Tradingquartetlauncheslobbygroupforelectronicbondmarkets".Retrieved6December2016. ^"BondplatformsformlobbygrouptotackleMiFIDII|TheTrade".www.thetradenews.com.Retrieved6December2016. ^"TradewebandFTSERussellnamedasprovidersofGiltandTreasuryBillend-of-dayreferencepricingbytheUKTreasury ::Tradeweb".www.tradeweb.com.Retrieved6December2016. ^"LeadingTradingVenuesEstablishElectronicDebtMarketsAssociation ::Tradeweb".www.tradeweb.com.Retrieved6December2016. ^Agini,TimCaveandSamuel."BigbankspickTradewebforMifidIIreporting".Retrieved12September2017. ^"CitadelSecuritiestotradeTreasuriesonTradeweb,"FinancialTimes,March15,2017. ^"Tradewebtolaunchall-to-allcorporatebondtradinginEurope,"TheTRADE,April11,2017. ^"TradewebMarketstoProvidetheFirstOffshoreElectronicBondTradingPlatformintheEstablishmentofBondConnect ::Tradeweb".www.tradeweb.com.Retrieved12September2017. ^"TradewebMarketsMakesStrategicInvestmentinDealVector ::Tradeweb".www.tradeweb.com.Retrieved12September2017. ^"TradewebInvestsinDealVectortoGrowFixed-IncomeSuiteofSolutions-WatersTechnology.com".WatersTechnology.com.20July2017.Retrieved12September2017. ^McDowell,Hayley(17May2018)."TradewebexpandsintoequitieswithPlatoPartnershipblocktradingventure".TheTRADE.Retrieved12June2020. ^McDowell,Hayley(16August2018)."TradeweblaunchesRFQplatformforUSoptions".TheTRADE.Retrieved7July2020. ^Monks,Matthew(16December2019)."TradewebRaises$1.1BillioninYear'sNo.2IPOinU.S."BloombergNews.Retrieved24June2020. ^Maranz,Felice;Surane,Jennifer(16December2019)."All-DigitalTradingIsa'QuestionofWhen,'TradewebCEOSays".BloombergNews.Retrieved24June2020. ^JohnD'Antona,"TradewebShares2019FixedIncomeYearinReview,"TradersMagazine,December11,2019. ^"FreddieMacMovesTowardSingleSecurity,"MReportMagazine,April3,2019. ^Barnett,Chip(13September2019)."TradewebICETreasuryClosingPricesunveiled".TheBondBuyer.Retrieved12June2020. ^McDowell,Hayley(8October2019)."Tradewebexpandscorporatebondportfoliotradingwithnewfunctionality".TheTrade.Retrieved1July2020. ^"TradewebHistoricalTradeVolumes"(PDF).October2021.{{citeweb}}:CS1maint:url-status(link) ^Barnes,Dan(2February2021)."TheDesk". ^"LeeOlesky".InstitutionalInvestor.16July2010.Retrieved1July2020. ^Stafford,Philip(16February2022)."LeeOleskytostepdownasTradewebchief".FinancialTimes.Retrieved16February2022. ^"The2017TradingTech40:BillyHult,"InstitutionalInvestor,March7,2017. Externallinks[edit] Officialwebsite BusinessdataforTradewebMarketsInc.:BloombergGoogleFinanceReutersSECfilingsYahoo!Finance Retrievedfrom"https://en.wikipedia.org/w/index.php?title=Tradeweb&oldid=1082332128" Categories:Americancompaniesestablishedin1998Financialservicescompaniesestablishedin1998FinancialservicescompaniesbasedinNewYorkCityPubliclytradedcompaniesbasedinNewYorkCityElectronictradingplatformsOnlinefinancialservicescompaniesoftheUnitedStatesOnlinemarketplacesoftheUnitedStatesInternetpropertiesestablishedin19982004mergersandacquisitions2019initialpublicofferingsCompanieslistedontheNasdaqLondonStockExchangeGroupHiddencategories:Pageswithnon-numericformatnumargumentsCS1maint:url-statusArticleswithshortdescriptionShortdescriptionmatchesWikidataArticleswithapromotionaltonefromNovember2021AllarticleswithapromotionaltoneUsedmydatesfromDecember2014OfficialwebsitedifferentinWikidataandWikipediaACwith0elements Navigationmenu Personaltools NotloggedinTalkContributionsCreateaccountLogin Namespaces ArticleTalk English Views ReadEditViewhistory More Search Navigation MainpageContentsCurrenteventsRandomarticleAboutWikipediaContactusDonate Contribute HelpLearntoeditCommunityportalRecentchangesUploadfile Tools WhatlinkshereRelatedchangesUploadfileSpecialpagesPermanentlinkPageinformationCitethispageWikidataitem Print/export DownloadasPDFPrintableversion Languages Addlinks