Tradeweb to buy Trumid for 1.97 billion dollars

Tradeweb Markets said on Monday that it has agreed to buy Trumid Holdings, the electronic credit trading marketplace, for about 1.97 billion dollars, and its shares fell 11.3 percent in after-hours trading after the announcement.

Why it matters: The deal would put new issue and grey market credit trading on the same platform as Tradeweb's secondary market business, extending its reach across the full life of a bond trade.

Data as of Tradeweb announcement of October 19, 2026, via Business Wire, read in full (primary source). Share price move as reported by Investing.com the same day; that report gave no analyst or investor reason for the fall. Developing item.

Tradeweb Markets said on Monday that it has entered a definitive agreement to acquire Trumid Holdings for about 1.97 billion dollars, made up of 1.75 billion dollars for the business and about 220 million dollars for tax assets. The consideration is about 1.89 billion dollars in cash, to be funded mainly from cash on hand, plus 82 million dollars in equity, and the boards of both companies have approved the transaction unanimously.

Trumid runs an electronic marketplace for United States dollar investment grade, high yield, distressed and emerging market bonds, with a strong position among hedge funds and systematic traders. Tradeweb said the combination would add grey market and new issue trading to its platform, is expected to add to adjusted earnings per share in the first full year after closing, and is targeted to close in the first half of 2027, subject to regulatory approvals. Tradeweb shares fell 11.3 percent in after-hours trading on Monday after the announcement.

Tradeweb to buy Trumid for 1.97 billion dollars

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