Tradeweb Markets Agrees to Acquire Electronic Credit Platform Trumid for About $1.97B

Trading platform Tradeweb Markets announced on Monday that it will buy electronic credit trading marketplace Trumid for about $1.97B. The transaction structure includes about $1.89B in cash and $82M in stock, which will be funded largely using Tradeweb's existing cash on hand. Morgan Stanley served as financial advisor to Tradeweb on the transaction, while Goldman Sachs advised Trumid. The acquisition is expected to close in the first half of 2027. "This acquisition represents an important step forward in our ambition to make credit markets more efficient and provide clients with smarter ways to access liquidity." — Billy Hult, CEO of Tradeweb.