Tradeweb bolsters US corporate bond offerings with nearly $2 billion Trumid deal (updated)

Tradeweb Markets

19/10/2026 21:55

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Oct 19 (Reuters) - Tradeweb Markets TW.O said on Monday it will buy bond-trading platform Trumid for about $1.97 billion, as it seeks to expand its presence in US corporate bond markets.
The $1.97 billion transaction values Trumid’s business at $1.75 billion and includes about $220 million for tax assets. Tradeweb will pay about $1.89 billion in cash, funded largely from cash on hand, and $82 million in stock.
The deal is expected to close in the first half of 2027.
The acquisition will give Tradeweb a larger presence across new bond issuance and grey-market trading, allowing it to serve clients across more stages of the bond lifecycle. 
"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," said Billy Hult, CEO of Tradeweb.
The deal is expected to add to Tradeweb's adjusted earnings per share in the first full year after closing.
Trumid, backed by venture capitalist Peter Thiel and investor George Soros, operates an electronic trading platform for US dollar-denominated corporate bonds, including investment-grade, high-yield and distressed debt, as well as emerging-market bonds.
German exchange operator Deutsche Boerse Group had made a $10 million investment in Trumid in 2017. 
Morgan Stanley advised Tradeweb, while Goldman Sachs advised Trumid.


 (Reporting by Pragyan Kalita and Prakhar Srivastava in Bengaluru; Editing by Sahal Muhammed)
 ((Pragyan.Kalita@thomsonreuters.com;))