TW - Tradeweb Markets Inc.
42.66 0.00 (0.00%)
After hours: 4:37PM EDT
| Previous Close | 41.50 |
| Open | 41.41 |
| Bid | 42.66 x 1800 |
| Ask | 42.73 x 900 |
| Day's Range | 41.35 - 42.75 |
| 52 Week Range | 33.68 - 50.48 |
| Volume | 2,549,730 |
| Avg. Volume | 785,225 |
| Market Cap | 9.77B |
| Beta (3Y Monthly) | N/A |
| PE Ratio (TTM) | 69.25 |
| EPS (TTM) | 0.62 |
| Earnings Date | Nov 7, 2019 |
| Forward Dividend & Yield | 0.32 (0.78%) |
| Ex-Dividend Date | 2019-08-30 |
| 1y Target Est | 47.23 |
- Business Wire
Tradeweb Markets Announces Pricing of Upsized Follow-On Offering
Tradeweb Markets Inc. , a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced the pricing of its follow-on offering of 17,287,878 shares of its Class A common stock at a price to the public of $42.00 per share.
- Yahoo Finance
We're learning how much big banks are feeling Silicon Valley's pain: Morning Brief
Top news and what to watch in the markets on Wednesday, October 16, 2019.
- Business Wire
Tradeweb Markets Announces Launch of Follow-On Offering and Preliminary Third Quarter 2019 Financial Results
Tradeweb Markets Inc. , a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced the launch of an underwritten offering of 14,800,000 shares of its Class A common stock, subject to market conditions and other factors.
- Insider Monkey
Hedge Funds Have Never Been This Bullish On Tradeweb Markets Inc. (TW)
At Insider Monkey, we pore over the filings of nearly 750 top investment firms every quarter, a process we have now completed for the latest reporting period. The data we've gathered as a result gives us access to a wealth of collective knowledge based on these firms' portfolio holdings as of June 28. In this […]
- Market Realist
Zoom Video and CRWD Lead Tech IPO Gains in 2019
Zoom Video is trading significantly higher than 2019's other IPO debutants. Zoom stock had an offer price of $36 and is trading at $73.52—104% higher.
- Reuters
CORRECTED-Tradeweb reports record trading volume on third-quarter volatility
Fixed income trading platform Tradeweb Markets on Thursday reported record volumes in the third quarter as market volatility driven by the U.S.-China trade war and global rate cuts bolstered activity during the normally sluggish summer months. Average daily volume across all asset classes was $815 billion in the last quarter, a 53.3% increase from the same period a year ago. Tradeweb is majority owned by Refinitiv.
- Business Wire
Tradeweb Reports September 2019 Trade Volume
Tradeweb Markets Inc. (TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today reported a new record for average daily volume (ADV) of $872.0 billion (bn) in aggregate for the month of September 2019, representing an increase of 47.3 percent year over year.
- Business Wire
Tradeweb Expands Portfolio Trading for Corporate Bonds
Tradeweb Markets Inc. (TW), a leading global operator of electronic marketplaces for rates, credit, equities and money markets, today announced a significant expansion of portfolio trading functionality for corporate bonds, enhancing access to competitive liquidity globally. Portfolio trading at Tradeweb improves execution efficiency by allowing institutions to package multiple bonds into a single basket, negotiate a portfolio level price with liquidity providers including banks and principal trading firms, and execute in a single transaction. Tradeweb was the first trading platform to offer portfolio trading for corporate bonds and has facilitated a total $21 billion year to date1, with single trades as large as $1bn in notional value.
- Bloomberg
Goldman Faces $260 Million Hit From Equity Bets as Uber Plunges
(Bloomberg) -- Goldman Sachs Group Inc.’s bets on four companies delighted investors a quarter ago. This time around, they’re inflicting about $260 million of pain.Those losses are driven by investments made for its own account in Uber Technologies Inc. and Avantor Inc., which both slumped in the third quarter. The ride-hailing company has seen a third of its market value erased after a woeful public-market debut, while Avantor lost 23% in the same period. That led to hits of more than $100 million each for Goldman.Goldman was barred from selling its holdings in the companies immediately after they went public, as is typical for private investors. The size of the positions was derived from filings and company disclosures. A spokeswoman for Goldman Sachs declined to comment.Gains from investments with its own money are sometimes Goldman Sachs’s biggest profit driver, and executives have argued they showcase a core skill of the firm that should be valued by shareholders. But some analysts and investors have pointed to quarterly volatility in its Investing & Lending division as a reason to discount those profits. The swings in these marquee holdings may add to that perception.“The ‘I’ in the I&L can still be chunky and difficult to forecast,” said Mike Mayo, a senior bank analyst at Wells Fargo & Co. “It’s certainly a headwind in the quarter.”Mayo recently lowered his estimates and is now forecasting a 30% drop in investing and lending revenue from the second quarter. Goldman Sachs is unique among banks in the scale of its principal investments, with a $22 billion equity portfolio. Executives have said they plan to move their merchant banking units more toward managing client money and away from making bets with the firm’s money.The investment bank credited Uber and Avantor, along with Tradeweb Markets Inc. and online recruiter HeadHunter Group Plc, with lifting results in the second quarter. The firm said its positions in companies that went public in the second quarter generated about $500 million dollars in gains. That was mostly driven by a special one-time gain from Tradeweb.Tradeweb also declined 16% in the period, but that loss was mitigated by a similar advance in HeadHunter.The four holdings made up 55% of the company’s $2.6 billion public investment portfolio as of June 30, Chief Financial Officer Stephen Scherr said in July. Banks sometimes discount a holding’s value if the stake is large or would prove difficult to quickly divest.Goldman got in early on Uber, investing when the venture was just starting to expand. That allowed the bank to ride big gains as the company’s valuation exploded in recent years. It holds roughly 10 million shares of Uber.Avantor, a chemical maker for the life-sciences industry, has also been a big money spinner for Goldman. The bank and its client scored more than $400 million in proceeds from Avantor’s initial public offering in the second quarter, as well as merger advisory work before that.Goldman isn’t alone in facing pain from investments in newer companies after years of gains. Jefferies Financial Group Inc.’s third-quarter earnings took a hit from WeWork’s dropping valuation as the investment bank had to mark down its stake.To contact the reporter on this story: Sridhar Natarajan in New York at snatarajan15@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Dan Reichl, David ScheerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Reuters
Almost 70% of euro zone bond yields have sub-zero yields - Tradeweb
The pool of negative-yielding government bonds in the euro area now makes up almost 70% of those on the Tradeweb platform but was relatively stable from month-ago levels, according to new data from the electronic bond trading firm. Of the roughly 8.18 trillion euros of euro zone government bonds traded on Tradeweb, 68.8% or 5.63 trillion euros' worth, have a negative yield, data as of end-September showed. Of the roughly 3.4 trillion euros of euro investment grade corporate bonds traded on Tradeweb, around 1.17 trillion euros or almost 34% had a negative yield at the end of September.
- Business Wire
Tradeweb Integrates Margin Optimisation Analytics for Interest Rate Derivatives Trading
Collaborates with Cassini and OpenGamma to help clients reduce execution costs
- Business Wire
Tradeweb Announces Third Quarter 2019 Earnings Date
Tradeweb Markets Inc. , a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, will release financial results for the third quarter of 2019 prior to the U.S.
- Yahoo Finance
Multi-class share structures create a 'significant long-term cost': Goldman Sachs
One of newly public firms’ favorite tools to boost executives’ control may also be a long-term liability, according to Goldman Sachs.
- Business Wire
Charles River and Tradeweb Expand Multi-Asset Trading Collaboration
Charles River Development, a State Street Company, and Tradeweb Markets Inc. , a leading global operator of electronic marketplaces for rates, credit, equities and money markets today announced an expansion of their collaboration to provide mutual clients with direct access to fixed income inventory and streamlined workflows from the Charles River Investment Management Solution .
- Bloomberg
What’s the Price of a Treasury Note? It Depends on Whom You Ask
(Bloomberg) -- The U.S. government just argued that Treasuries are sufficiently transparent when it comes to prices.So why can’t investors agree on what those prices are?The $16 trillion Treasuries market is the world’s biggest and most liquid bond market. But unlike stocks, it lacks a mechanism for establishing end-of-day prices that everyone can use. That means money managers sometimes value identical securities at different levels.Tradeweb Markets Inc., one of the biggest electronic marketplaces for buying and selling Treasuries, wants to help change that. Through a partnership with New York Stock Exchange owner Intercontinental Exchange Inc., it’s now publishing closing prices for U.S. debt.The Tradeweb-ICE partnership was announced Sept. 10, two weeks before the Treasury Department unveiled conclusions from a multiyear study of the market. It recommended a weekly release of volume data based on monitored transactions, but not their prices, a point on which stakeholders had clashed.“Price transparency largely exists in the Treasury market,” Deputy Treasury Secretary Justin Muzinich said Monday at the Federal Reserve Bank of New York’s annual U.S. Treasury Market Conference.And, yet, consider the Treasury note issued in May 2017 with a 2% coupon and maturing in 2024. There’s nearly $77 billion worth of them, making it one of the largest Treasury issues in existence.Three large bond mutual funds that held it valued the debt slightly differently at the end of the second quarter. The Bond Fund of America went with 101.1880. The Federated Total Return Bond Fund used 101.1820. Northern Fixed Income Fund marked it at 101.1758. The prices were calculated using market values of reported holdings.By contrast, large equity funds managed by those three companies all agreed on where Microsoft Corp.’s stock ended the month of June: $133.96, which was the industrywide closing price. The investment companies declined to comment.Lack of pricing uniformity is problematic in an investment landscape now dominated by passive money managers, who invest by simply putting money into whatever assets are in a particular index.“A trusted benchmark price is useful for all market participants, but the growth of ETFs and passive investment has led to increased demand for objective closing prices from ETF issuers and index providers,” Elisabeth Kirby, head of U.S. rates products and strategy at New York-based Tradeweb, said in an interview. “Elsewhere, risk and compliance teams want a robust marketwide price for evaluation and monitoring.”In the U.S. stock market, a consortium of exchanges called the Consolidated Tape Association ensures closing prices are uniform to “avoid confusion,” according to a Securities and Exchange Commission overview of how the process works. And that information is easily accessed on endless websites, the Stocks app on iPhones and so forth. Institutional holders of stocks use those numbers to value their holdings and set share prices for mutual funds.Trading of Treasuries is decentralized and there is no public record of transactions. So mutual funds and other institutions typically turn to pricing services to mark their holdings. (Bloomberg LP, the owner of Bloomberg News, is one of them.) As a result, funds may assign different values to the same security, depending on who ran the calculation and the millisecond the numbers were crunched.Tradeweb went public in April, more than two decades after being founded as the first multi-dealer online platform for U.S. government bonds. It also offers trading of derivatives, exchange-traded funds and other products. The company is producing the closing prices with ICE Benchmark Administration, which operates other indexes including Libor.The Treasury prices “are designed to represent the daily mid-price for U.S. Treasury securities” at 3 p.m. New York time, and are being calculated for more than 900 issues “using prices available on Tradeweb’s institutional global platform,” the company said in a statement.That covers a big swath of the business: Tradeweb handled about $89 billion of Treasuries trades a day last month. But that’s not the entire market. Across the industry, the daily average was roughly $700 billion in August, according to Muzinich’s presentation Monday. And BrokerTec, the largest electronic platform for Treasuries, saw $211 billion a day, according to CME Group Inc., which acquired the business last year.Tradeweb’s proposition is that working with ICE and auditor Ernst & Young LLP will ensure the quality of the prices. ICE Benchmark Administration, or IBA, will oversee the process by which they are calculated and verify compliance with principles for financial benchmarks developed by the International Organization of Securities Commissions. Tradeweb in 2017 took over publication of closing prices for U.K. gilts from that country’s Debt Management Office under a similar arrangement with FTSE Russell.ICE, for its part, has been expanding its fixed-income portfolio in recent years. It acquired Bank of America Corp.’s bond-index business in 2017 and agreed to buy BofA’s widely watched Treasury volatility benchmark, the MOVE Index, last month.The Treasury reference prices are “the first in a suite” that Tradeweb and IBA say they plan to launch, covering other markets. Tradeweb is making the prices available for free through the end of the year, but expects to begin charging for them in 2020.“It’s a worthy goal,” said Charles Parkhurst, who headed Treasury trading at banks including Salomon Brothers and Bank of America and also has managed funds.“If they create a standard, they’d do regulators a big service because people wouldn’t be able to mark things in their favor,” Parkhurst said. But also, it calls attention to the lack of closing prices in other asset classes. “Treasuries are not the outlier,” he said. “If anything, listed equities are the outlier.”(Adds Tradeweb’s location in 11th paragraph. A previous version corrected Tradeweb’s partner for U.K. gilts closing prices.)To contact the reporter on this story: Elizabeth Stanton in New York at estanton@bloomberg.netTo contact the editors responsible for this story: Benjamin Purvis at bpurvis@bloomberg.net, Nick Baker, Mark TannenbaumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Business Wire
Tradeweb Launches Electronic Multi-Asset Package Trading on its Interest Rate Swaps Platform
Tradeweb Markets Inc. (TW), a leading global operator of electronic marketplaces for rates, credit, equities and money markets, announced the launch of multi-asset package (MAP) trading on its global Interest Rate Swaps (IRS) platform. The first fully-electronic multi-asset package transaction using in-competition request-for-quote (RFQ) took place between Legal & General Investment Management (LGIM) and Bank of America Merrill Lynch. “Our MAP functionality is a clear demonstration of Tradeweb’s unique ability to enhance the trading experience for our clients, and connect the buy-side with deep liquidity pools across asset classes on a single electronic venue, and in this case a single trade,” said Lee Olesky, CEO of Tradeweb Markets.
- Zacks
GS vs. TW: Which Stock Is the Better Value Option?
GS vs. TW: Which Stock Is the Better Value Option?
- Business Wire
Tradeweb Markets and ICE Benchmark Administration Launch Tradeweb ICE U.S. Treasury Closing Prices
Tradeweb Markets Inc. (TW), a leading global operator of electronic marketplaces for rates, credit, equities and money markets, and Intercontinental Exchange, Inc. (ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced the launch of Tradeweb ICE U.S. Treasury Closing Prices by Tradeweb and ICE Benchmark Administration Limited (IBA).
- Business Wire
Tradeweb Reports August 2019 Trade Volume
Tradeweb Markets Inc. (TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today reported average daily volume (ADV) of $832.4 billion (bn) in aggregate for the month of August 2019, representing an increase of 67.9 percent year over year.
- Business Wire
Tradeweb to Participate in Barclays Global Financial Services Conference
Tradeweb Markets Inc. , a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced that Chief Executive Officer Lee Olesky is scheduled to speak at the Barclays Global Financial Services Conference in New York on Tuesday, September 10, 2019 at 9:45 a.m.
- Insider Monkey
What Do Slack Technologies (WORK), Tesla and Lyft Have In Common?
What do Slack Technologies, Tesla Inc, and Lyft Inc have in common? We are going to answer this question at the end of this article. Insider Monkey has processed 740 13F filings of hedge funds and successful investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful […]
- Reuters
UPDATE 1-Almost half of top quality euro corp bonds have sub-zero yields - Tradeweb
The pool of negative-yielding bonds in the euro area expanded further in August, with almost half of euro-denominated investment grade corporate debt on the Tradeweb platform now carrying negative yields, Tradeweb said on Monday. Growing recession risks, a bitter China/U.S. trade war and growing expectations for central bank rate cuts have pushed bond yields across the world lower this year, deepening the pool of assets with sub-zero yields. Of the roughly 3.4 trillion euros ($3.8 trillion) of euro investment grade corporate bonds traded on Tradeweb, 49.51% or 1.68 trillion euros' worth, have a negative yield, data as of the end of August showed.
- Reuters
Share of negative-yield euro zone bonds at new record high-Tradeweb
The pool of negative-yielding bonds in the euro area expanded further in August, with almost half of euro-denominated corporate bonds on the Tradeweb platform now carrying negative yields, Tradeweb said on Monday. Of the roughly 3.4 trillion euros of euro investment grade corporate bonds traded on Tradeweb, 49.51% or 1.68 trillion euros worth, have a negative yield, data as of the end of August from the platform showed. The Tradeweb data also showed the pool of government bonds with negative yields soared in August.
