The Board of Yieldbroker confirms shareholders have voted in favour of the sale of 100% of the equity in Yieldbroker to Tradeweb (Nasdaq: TW) for A$125 million. The sale is on a cash-free, debt-free basis and assumes a normalised level of working capital. Definitive agreements have now also been entered into in respect of the sale.

Yieldbroker CEO, Anthony Robson stated: “We are pleased to have the support of our shareholders for the sale of Yieldbroker to Tradeweb. With more than 2,500 clients in more than 65 countries, Tradeweb will help bring Yieldbroker’s offerings into international markets and provide a clear pathway to expand our collective innovative trading solutions.”

Tradeweb CEO, Billy Hult stated: “Tradeweb is a pioneer in emerging bond and derivatives markets and has enhanced offerings in numerous countries across its operations. We believe that together, Yieldbroker and Tradeweb will broaden the products and trading protocols available to domestic Australian and New Zealand market participants and facilitate continued investment and innovation as market structure and client needs evolve.”

Tradeweb’s ownership will provide Yieldbroker with scale and global reach, and a clear pathway to future growth. The complementary nature of the respective offerings will allow for enhanced access for Australian and New Zealand investors to the world’s leading markets, with trading platforms in the U.S., European, UK, Asian and Canadian markets.

The sale remains conditional and subject to regulatory approval.

Goldman Sachs acted as Yieldbroker’s financial advisor and King & Wood Mallesons acted as legal advisor.

For further information:
Shane Murphy
Shane.murphy@fticonsulting.com
+61 420 945 291

ADDITIONAL INFORMATION

Tradeweb Markets Inc. (Nasdaq: TW) is a leading, global operator of electronic marketplaces for rates, credit, equities and money markets. Founded in 1996, Tradeweb provides access to markets, data and analytics, electronic trading, straight-through-processing and reporting for more than 40 products to clients in the institutional, wholesale and retail markets. Advanced technologies developed by Tradeweb enhance price discovery, order execution and trade workflows while allowing for greater scale and helping to reduce risks in client trading operations. Tradeweb serves approximately 2,500 clients in more than 65 countries. On average, Tradeweb facilitated more than US$1.1 trillion in notional value traded per day over the past four quarters. For more information, please go to www.tradeweb.com.

Yieldbroker provides trading services in Australian and New Zealand debt securities and derivatives. Commencing operation in 2001, Yieldbroker’s dealer and client market has become a leading electronic trading platform in the local debt marketplace. It is used by fixed income dealers and institutional investors to match and execute trades. Yieldbroker also operates an electronic auction platform to conduct primary auctions in Australian and New Zealand government bonds.