Tradeweb is set to become the latest fixed income trading venue to add an algorithmic technology provider to its universe with the acquisition of r8fin.
r8fin specialises in US treasuries and interest rate futures. Its clients include hedge funds, systematic hedge funds, professional trading firms and primary dealers.
Billy Hult
The deal follows Tradeweb’s acquisition of Yieldbroker for A$125 million– announced in May and completed in August – and comes as part of the venue’s wider strategy of inorganic growth.
“r8fin technology will help Tradeweb reach a new and differentiated level of intelligent execution through a powerful combination of algorithmic technology and cross-market connectivity,” said Tradeweb CEO Billy Hult in a statement.
“This marks another step forward in the execution of our vision to deliver an integrated product suite for accessing the US Treasury market through multiple liquidity pools across cash and futures. Beyond that, as we look ahead, we believe pairing r8fin’s sophisticated technology with our global network will open up a range of new possibilities for clients engaged in relative value or macro trades spanning multiple asset classes.”
Read more – Tradeweb completes Yieldbroker acquisition
Use of algorithms in fixed income trading has seen exponential growth in the last two years and was central to many discussions held as part of the Fixed Income Leaders Summit (FILS) in October.
Tradeweb is the second major fixed income trading venue to move to add an algorithmic technology provider to its arsenal in H2 of this year after rival venue operator MarketAxess confirmed in august that it was set to purchase multi-asset algo trading provider Pragma.