Tradeweb is buying eSpeed from Nasdaq - eSpeed currently owns ~15% of the interdealer US Treasury market & competes with CME's BrokerTec
$CME $NDAQ $TWhttps://investors.tradeweb.com/news-releases/news-release-details/tradeweb-acquire-nasdaqs-us-fixed-income-electronic-trading …
They paid $750 million for it in 2013 - it’s considered a non-core asset but definitely a smaller business now than when they bought it
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$750mm cash + stock. at the time, people thought another $500mm stock was involved via earnout. any estimate, based on this bit of today's release?pic.twitter.com/PsTtJo5FZ0
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looks like the residual contingency alone is 6.2mm or $860mm at
$NDAQ's 2/1 close. - Show replies
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