Tradeweb Markets, a leading builder and operator of global fixed income and derivatives marketplaces, announced today that it has completed the acquisition of BondDesk Group LLC, and has rebranded its combined retail fixed income division as Tradeweb Direct.
Over the next several months, Tradeweb Direct will integrate the businesses, technology, services and support of both Tradeweb Retail and BondDesk to provide the most advanced retail fixed income offering for broker dealers, retail and middle market investors.
Customers will soon benefit from a new bridge between each of the current trading platforms to improve overall liquidity, as well as enhanced portfolio analytics through Tradeweb's recent acquisition of Interactive Portfolio Solutions. During the initial integration period, user experience will not change and Tradeweb Direct will be working closely with clients to ensure there is continuity in their trading activity during the integration.
"Tradeweb Direct now represents the deepest pool of liquidity in retail fixed income, providing customers with innovative, efficient trading solutions and industry leading portfolio analytics," said Lee Olesky, CEO of Tradeweb Markets. "The acquisition of BondDesk and launch of Tradeweb Direct broadens our distribution capability across rates, credit and municipal bond markets and underscores Tradeweb's focus to provide our clients in every market segment with comprehensive and innovative fixed income trading technology and service."
Over the long-term, Tradeweb Direct will leverage the BondWorks Wealth Management Platform to build a best-of-breed solution for market participants to gain direct access to liquidity across retail fixed income markets. Tradeweb will also apply its leading institutional fixed income expertise and technology to enhance its offering to middle market investors with new functionality and greater access to liquidity.
"Tradeweb Direct provides the retail fixed income industry with access to a first-class bond trading platform that leverages Tradeweb's position as a premier operator of marketplaces for fixed income trading," said John Cahalane, Managing Director and Head of Tradeweb Direct. "By providing traders, advisors and other retail fixed income investors with efficient trading tools, Tradeweb Direct allows clients access to more transparent markets while enabling best execution."