There is no guarantee that the deal will be finalized.
43% of Yieldbroker is owned by the Australian exchange operator, ASX.
Tradeweb
Markets (NASDAQ: TW), a publicly-listed operator of electronic marketplaces for
money markets, announced on Thursday that it is in advanced talks to acquire
Yieldbroker, an Australian government bond and interest rate derivatives
trading platform. Tradeweb anticipates that the transaction could be finalized
for AUD 125 million.
Tradeweb Wants to Buy Yieldbroker
According
to Tradeweb, the acquisition would combine the two firms' industry experience
and trading solutions to create more transparent, liquid fixed-income markets.
Additionally, the deal would enable Yieldbroker's domestic clients to access the global
multi-asset platform provided by Tradeweb. In addition, Tradeweb's clientele
would gain access to pre-trade transparency, enhanced liquidity and broader
coverage of the debt capital markets in Australia and New Zealand.
"Australia
is home to the 5th largest pension fund market globally, and we believe that
this would help grow Tradeweb's Asia Pacific footprint and provide meaningful
opportunities for domestic and global clients," Tradeweb commented in the
written statement.
However,
Tradeweb cautioned that there was no guarantee that a definitive agreement
would be reached or that the transaction would be completed. The deal is still
subject to Yieldbroker's stockholder approval, final definitive documentation,
and regulatory reviews.
ASX Comments on Proposed
Sale
The
Australian Securities Exchange (ASX), the largest Australian stock exchange
with a history dating back to 1871, currently owns about 43% of Yieldbroker,
with the remaining shares held by domestic and foreign banks as well as
platform employees. In this regard, ASX issued a separate comment
on Thursday regarding the potential acquisition, stating that it would be
conducted "on a cash-free, debt-free basis and assuming a normalized level
of working capital."
"The
Proposed Transaction has been unanimously recommended to Yieldbroker
shareholders by the Yieldbroker board. Approval of Yieldbroker shareholders is
being sought to meet certain Yieldbroker constitutional requirements," ASX
wrote.
The value
of ASX shares under the terms of the transaction is approximately AUD 55
million, including transaction costs. The current book value of ASX's interest
in Yieldbroker is around AUD 30 million. ASX stated that its participation in
the transaction is subject to the decision of the Board of Directors.
Tradeweb Reports 23rd
Consecutive Year of Revenue Growth
In February,
Tradeweb reported $293 million in revenue for the fourth quarter of 2022. The
figure jumped 5.8 percent year-over-year. Further, the company witnessed a
massive uptick of 65 percent in its quarterly net income, which came in at $99
million. It was boosted by a lower tax expense related to changes in our
deferred tax assets and an increase in interest income. On the other hand, the
adjusted income increased by 17.2 percent to $116.9 million.
"Tradeweb
reported its 23rd consecutive year of revenue growth in 2022," Billy Hult,
the CEO of Tradeweb, said.
In the most recent
update, the company presented a new market data service allowing real-time
calculation of Indicative Net Asset Values (iNAVs) for exchange-traded funds
(ETFs).
Tradeweb
Markets (NASDAQ: TW), a publicly-listed operator of electronic marketplaces for
money markets, announced on Thursday that it is in advanced talks to acquire
Yieldbroker, an Australian government bond and interest rate derivatives
trading platform. Tradeweb anticipates that the transaction could be finalized
for AUD 125 million.
Tradeweb Wants to Buy Yieldbroker
According
to Tradeweb, the acquisition would combine the two firms' industry experience
and trading solutions to create more transparent, liquid fixed-income markets.
Additionally, the deal would enable Yieldbroker's domestic clients to access the global
multi-asset platform provided by Tradeweb. In addition, Tradeweb's clientele
would gain access to pre-trade transparency, enhanced liquidity and broader
coverage of the debt capital markets in Australia and New Zealand.
"Australia
is home to the 5th largest pension fund market globally, and we believe that
this would help grow Tradeweb's Asia Pacific footprint and provide meaningful
opportunities for domestic and global clients," Tradeweb commented in the
written statement.
However,
Tradeweb cautioned that there was no guarantee that a definitive agreement
would be reached or that the transaction would be completed. The deal is still
subject to Yieldbroker's stockholder approval, final definitive documentation,
and regulatory reviews.
ASX Comments on Proposed
Sale
The
Australian Securities Exchange (ASX), the largest Australian stock exchange
with a history dating back to 1871, currently owns about 43% of Yieldbroker,
with the remaining shares held by domestic and foreign banks as well as
platform employees. In this regard, ASX issued a separate comment
on Thursday regarding the potential acquisition, stating that it would be
conducted "on a cash-free, debt-free basis and assuming a normalized level
of working capital."
"The
Proposed Transaction has been unanimously recommended to Yieldbroker
shareholders by the Yieldbroker board. Approval of Yieldbroker shareholders is
being sought to meet certain Yieldbroker constitutional requirements," ASX
wrote.
The value
of ASX shares under the terms of the transaction is approximately AUD 55
million, including transaction costs. The current book value of ASX's interest
in Yieldbroker is around AUD 30 million. ASX stated that its participation in
the transaction is subject to the decision of the Board of Directors.
Tradeweb Reports 23rd
Consecutive Year of Revenue Growth
In February,
Tradeweb reported $293 million in revenue for the fourth quarter of 2022. The
figure jumped 5.8 percent year-over-year. Further, the company witnessed a
massive uptick of 65 percent in its quarterly net income, which came in at $99
million. It was boosted by a lower tax expense related to changes in our
deferred tax assets and an increase in interest income. On the other hand, the
adjusted income increased by 17.2 percent to $116.9 million.
"Tradeweb
reported its 23rd consecutive year of revenue growth in 2022," Billy Hult,
the CEO of Tradeweb, said.
In the most recent
update, the company presented a new market data service allowing real-time
calculation of Indicative Net Asset Values (iNAVs) for exchange-traded funds
(ETFs).
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Devexperts Teams Up with nuam Exchange to Boost Equity and Derivatives Trading
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔