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The electronic trading platform, long known for its fixed-income offerings, will pay $785 million in its biggest acquisition yet. This will give Tradeweb access to one of the largest U.S. institutional money-market fund portals, which works with about 500 corporate treasury organizations.
“The future is multi-asset class,” Hult said in an interview. “I love the idea of supercharging the concept of the one-stop shop by continuing to add asset classes, products and regions.” In the last five years, Tradeweb has doubled its revenue. The company’s stock has soared 280% since its 2019 debut, giving it a valuation of roughly $24 billion. Hult said that growth is giving him the confidence to be on the lookout for more deals. “My instinct is there’s more to come,” he said. “Once you are producing the sort of numbers we are producing, it gives you leverage to do more.”
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