Tradeweb Markets, a builder and operator of fixed income and derivatives marketplaces, has completed the acquisition of BondDesk Group, a provider of retail fixed income wealth management and trading technology, which Tradeweb purchased in September.
Over the next several months, Tradeweb plans to integrate the businesses, technology, services and support of both Tradeweb Retail and BondDesk into its rebranded retail fixed income division, Tradeweb Direct.
There will be a 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.
"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," says Tradeweb CEO Lee Olesky.
Over the long-term, Tradeweb Direct will leverage the BondWorks Wealth Management Platform to build a solution for market participants to gain direct access to liquidity across retail fixed income markets. Tradeweb will also apply its institutional fixed income experience and technology to enhance its offering to middle market investors with new functionality and greater access to liquidity.
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