Tradeweb Markets announced that it has entered into a definitive agreement to acquire r8fin, a technology provider that specializes in algorithmic-based execution for U.S. Treasuries and interest rate futures. Founded in 2016 in Chicago, r8fin provides a suite of algorithmic-based tools as well as a thin-client execution management system, or EMS, trading application to facilitate futures and cash trades. The solutions complement Tradeweb’s existing Dealerweb Active Streams, Dealerweb Central Limit Order Book, or CLOB, Tradeweb Request-for-Quote, or RFQ, and Tradeweb AiEX offerings, creating a valuable and broad-based approach to trading U.S. Treasuries and related futures trading. Tradeweb expects the acquisition to modestly enhance revenue growth, operating margins and be accretive to 2024 earnings per share. The acquisition is expected to close in the first quarter of 2024 subject to customary closing conditions and receipt of regulatory approvals.
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