Tradeweb, a big shot in the electronic trading game, is all set to scoop up r8fin, a tech provider that’s all about algorithms for U.S. Treasuries and interest rate futures. This move is all about taking things up a notch and making trading smarter and more connected. r8fin, based in Chicago and born in 2016, brings a bunch of algorithm-based tools and a slick trading app to the table. These tools fit right in with Tradeweb’s existing offerings, making it a power-packed combo for trading U.S. Treasuries and related futures. The deal is expected to bring in more revenue, boost operating margins, and add to the earnings per share in 2024. It’s all set to go down in the first quarter of 2024, pending the usual approvals.
Tradeweb’s CEO, Billy Hult, is stoked about this move. He’s all about taking things to the next level with r8fin’s tech and making trading in the U.S. Treasury market a whole lot smoother. He’s also got his eye on the future, seeing a world of new opportunities for clients across different asset classes.
r8fin’s got a solid client base, including 65 hedge funds, trading firms, and primary dealers. Their tech handles a whopping $23 billion in U.S. Treasury bonds and 350,000 futures contracts every day. That’s some serious action!
Tradeweb’s no stranger to the U.S. Treasury game. They’ve been at it for 25 years and are the go-to platform for trading U.S. Treasuries. They’re all about making trading in this market easy and accessible for everyone, from big institutions to everyday traders.
Assad Fehmy, co-founder of r8fin, is thrilled about this new chapter. He’s looking forward to seeing r8fin’s tech grow and evolve as part of Tradeweb. And he’s all set to join the Tradeweb team once the deal is sealed.
This is a big move in the world of electronic trading, and it’s all about making things smarter, smoother, and more connected. It’s a win-win for Tradeweb, r8fin, and all the traders out there looking for a better way to trade.
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