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 …
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I am pretty sure the deal was the brainchild of former Nasdaq CEO Bob Greifeld. The guy did a number of terrible deals. This goes down as the worst. It has been taking forever to get rid of this asset. At least it ends the annual 2% dilution from everything I’ve read.
This is a good explanation of all the ins and outs
cc @FIGfluencer @JSelway3 @staffordphiliphttps://www.ft.com/content/81d2e544-75fb-40b2-b2a9-4c8383497e30 …