March 2, 2016 | Tradeweb.com
Tradeweb has acquired CodeStreet LLC, a leader in data-driven trade identification and workflow management software development. The acquisition enables Tradeweb to pair effective trade execution and processing with better trade identification tools for the buy-side and enhanced workflow management for liquidity providers, which will enable buy-side investors to better source liquidity.
The deal will leverage the technology and expertise of both firms to enhance corporate bond trading on a global scale, and deliver innovative tools that help identify likely counterparties and improve quality of execution with greater information protection.
Tradeweb CEO, Lee Olesky noted, “We are committed to building the most comprehensive electronic corporate bond marketplace, and the acquisition of CodeStreet is a valuable building block in expanding our established offering with improved sourcing of liquidity and workflow management.”
The Tradeweb U.S. corporate bond trading platform has seen consistent growth since its launch in 2014, and as Bloomberg Business highlighted, the average trade size on the platform is $2 million.