Tradeweb Markets has purchased CodeStreet.
Tradeweb, a builder and operator of global fixed income and derivatives marketplaces has bought data-driven trade identification and workflow management software development company CodeStreet.
According to the firms, the transaction will leverage the technology and expertise of both firms to enhance corporate bond trading on a global scale, delivering innovative tools that help identify likely counterparties and improve quality of execution with greater information protection.
In a press release, the acquisition of CodeStreet 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.
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, said Lee Olesky, CEO of Tradeweb Markets. Tradeweb has a long history of partnering with market participants to meet their needs with innovation, and with the addition of new technology from CodeStreet, we will continue to drive meaningful change in the evolution of todays corporate bond marketplace.
Fried, Frank, Harris, Shriver & Jacobson LLP served as outside counsel to Tradeweb Markets and Thompson Hine LLP served as outside counsel to CodeStreet in the transaction.
