Tradeweb to Buy Trumid Holdings in $1.97 Billion Mixed Deal
The electronic trading platform said the credit suite will extend its multi-asset stack from trade inception into the secondary market.
Tradeweb Markets Inc. (TW) agreed to acquire Trumid Holdings, LLC, in a mixed transaction valued at approximately $1.97 billion, targeting a close in the first half of 2027.
The electronic trading platform said the combined suite of credit trading products will further differentiate its multi-asset class platform, in part by expanding into earlier stages of the bond lifecycle, going from trade inception to the secondary market on one platform and creating a new differentiated capability for the industry.
Billy Hult, CEO of Tradeweb, said the acquisition represents an important step forward in the company’s ambition to make credit markets more efficient and provide clients with smarter ways to access liquidity.
“We believe U.S. credit represents a significant long-term growth opportunity, particularly as the market continues to embrace electronic execution and as clients seek increasingly sophisticated solutions to navigate liquidity and achieve better outcomes,” Hult said.
He said Trumid has built an innovative platform that is well positioned for where the market is headed.
The deal is structured as a mixed consideration and is targeted to close in the first half of 2027.
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