Tradeweb to buy bond-trading platform Trumid for about $1.97B

Tradeweb Markets agreed to acquire Trumid Holdings, an electronic credit trading marketplace, for about $1.97 billion, subject to customary adjustments. The price includes a $1.75 billion component. Tradeweb facilitates more than $3 trillion in daily trading volume across asset classes.

Why it matters: The deal extends Tradeweb's credit capabilities across the bond lifecycle and further differentiates its multi-asset trading platform.