Barclays Capital, the investment banking division of Barclays Bank, has purchased a minority equity stake in Tradeweb’s business. Reportedly, in connection with the transaction, Thomson Reuters and its dealer-owners will invest an additional $68 million in total, reinforcing their commitment to Tradeweb’s electronic markets.
It has been reported that Barclays Capital’s investment reflects the continued expansion of the Tradeweb business since January 2008, when Thomson Reuters and nine banks completed a capital restructuring of the firm. Tradeweb’s active bank investor group now comprises: Bank of America/Merrill Lynch, Barclays Capital, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan, Morgan Stanley, RBS, and UBS.
Harry Harrison, head of Rates at Barclays Capital, said: “Partnering with Tradeweb underscores the firm’s commitment to delivering best-in-class service, liquidity and reliability in the electronic trading space to our clients. Our stake in Tradeweb also complements our strategy for improving market efficiency and transparency alongside our market-leading electronic trading platform, BARX.”
Lee Olesky, CEO of Tradeweb, said: “This investment is not only great news for Tradeweb, but can be seen as further validation of electronic trading in general. Barclays Capital is a world-class investment bank, with a leading position in online trading established over many years, including as a liquidity provider for 14 markets on Tradeweb.”
Tradeweb provides services in the fixed income, derivative, and equity markets to clients in more than 50 countries.
