Tradeweb
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| Industry | Financial services |
|---|---|
| Founded | 1998 |
| Headquarters | New York City, United States |
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Key people
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Lee Olesky, CEO and Founder; Billy Hult, President; |
| Website | www.tradeweb.com |
Tradeweb Markets LLC (Tradeweb) is an international financial services company that builds and operates electronic over-the-counter (OTC) marketplaces for companies that trade fixed income products and derivatives. The company was founded in 1996 by Lee Olesky and Jim Toffey and now serves a variety of institutions, a network that includes the largest banks, asset managers, central banks, pension funds, and insurance companies. Since its founding, Tradeweb has grown into a global company that operates across multiple currencies and in numerous countries. Its focus is on applying technology to drive greater efficiency, transparency, and overall performance for institutions that trade fixed income and derivatives products.
Tradeweb launched its first multi-dealer online marketplace for U.S. Treasuries in 1998.
In 2000, the firm opened its London office and launched marketplaces for trading European government bonds and agencies.
The firm was privately held until 2004, when it was acquired by The Thomson Corporation for $535 million.
Tradeweb established its Tokyo office in 2005. Thus began a partnership with CanDeal to launch Canadian Debt Securities trading. In the same year, the firm grew by introducing marketplaces for interest rate swaps, credit default swap indices, and repo.
In 2006, Tradeweb Retail was established as the firm entered the retail fixed income marketplace through the acquisition of Lever-Trade, a provider of web-based fixed income management systems for the retail marketplace.
In 2007, Thomson Financial, a unit of The Thomson Corporation, announced its plans to expand electronic trading by creating a strategic partnership with nine other global dealers through Tradeweb valuing the company at $1.55 billion.
Following its acquisition by The Thomson Corporation, the firm entered the inter-dealer broker space. In 2008, it acquired Hilliard Farber & Co. Inc., the voice brokerage company, which was known for its reputation and industry expertise. In 2009, it launched Dealerweb, an electronic interdealer platform for to-be-announced, or forward, mortgage-backed securities (TBA-MBS) with an emphasis on being highly liquid.
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