Tradeweb Markets announced that it has completed its acquisition of Yieldbroker, a leading Australian trading platform for Australian and New Zealand government bonds and interest rate derivatives covering the institutional and wholesale client sectors. The A$125 million ($81mn), all-cash transaction was announced in May 2023.
This acquisition combines Australia and New Zealand’s highly attractive, fast-growing markets with Tradeweb’s international reach and scale. Australia is the fifth largest pension fund market globally[i] and has the twelfth largest sovereign bond market[ii]. Founded by the key firms underpinning these markets, Yieldbroker has harnessed the expertise of its members and customers to deliver a trading solution that has continuously evolved to meet the needs of its users. Yieldbroker also operates an electronic auction platform to conduct primary auctions in Australian and New Zealand government bonds.
“Tradeweb and Yieldbroker share a strong commitment to client collaboration and continuous innovation, and both of us were born out of a dealer-owned structure,” said Tradeweb CEO Billy Hult, in a statement. “Now operating as one Tradeweb team based in Sydney, we are exceedingly well-positioned to seamlessly connect markets in Australia and New Zealand with our global network of clients and dealers.”
“Yieldbroker’s deep understanding of Australia and New Zealand, and the unique features that make these markets so important, are truly unmatched,” said Yieldbroker CEO Anthony Robson. “As part of Tradeweb, we can work with clients around the world to ensure they can take full advantage of all that we have to offer, while leveraging Tradeweb’s global presence to bring a world of opportunity to our local community.”