{
  "title": "Tradeweb to Acquire Trumid: $1.97 Billion to Own the Whole Bond Lifecycle",
  "publisher": "Acquiry Deal Intelligence",
  "author": "Joash Boyton",
  "url": "https://www.acquiry.com/deal-intelligence/tradeweb-to-acquire-trumid/",
  "published": "2026-10-20T12:00:00Z",
  "updated": "2026-10-20T12:00:00Z",
  "licence": "Free to reference with attribution to Acquiry Deal Intelligence and a link to the source URL.",
  "rows": [
    {
      "dataset": "key-figures",
      "id": "stat-price",
      "label": "Purchase price for Trumid",
      "value": "≈$1.97bn",
      "provenance": "disclosed",
      "note": "Subject to customary adjustments, per Tradeweb’s announcement of 19 October 2026.",
      "sources": "https://www.tradeweb.com/newsroom/media-center/news-releases/tradeweb-to-acquire-trumid-expanding-tradewebs-credit-capabilities-across-the-entire-bond-lifecycle-and-further-differentiating-its-multi-asset-class-platform/ | https://www.trumid.com/about | https://www.trumid.com/",
      "permalink": "https://www.acquiry.com/deal-intelligence/tradeweb-to-acquire-trumid/#stat-price"
    },
    {
      "dataset": "key-figures",
      "id": "stat-business",
      "label": "Price attributed to the Trumid business",
      "value": "$1.75bn",
      "provenance": "disclosed",
      "note": "The remaining approximately $220 million is for tax assets, a net present value at a 7% discount rate.",
      "sources": "https://www.tradeweb.com/newsroom/media-center/news-releases/tradeweb-to-acquire-trumid-expanding-tradewebs-credit-capabilities-across-the-entire-bond-lifecycle-and-further-differentiating-its-multi-asset-class-platform/ | https://www.trumid.com/about | https://www.trumid.com/",
      "permalink": "https://www.acquiry.com/deal-intelligence/tradeweb-to-acquire-trumid/#stat-business"
    },
    {
      "dataset": "key-figures",
      "id": "stat-cash-share",
      "label": "Cash share of total consideration",
      "value": "≈96%",
      "provenance": "calculated",
      "note": "Acquiry calculation: approximately $1.89 billion cash divided by approximately $1.97 billion total.",
      "sources": "https://www.tradeweb.com/newsroom/media-center/news-releases/tradeweb-to-acquire-trumid-expanding-tradewebs-credit-capabilities-across-the-entire-bond-lifecycle-and-further-differentiating-its-multi-asset-class-platform/ | https://www.trumid.com/about | https://www.trumid.com/",
      "permalink": "https://www.acquiry.com/deal-intelligence/tradeweb-to-acquire-trumid/#stat-cash-share"
    },
    {
      "dataset": "key-figures",
      "id": "stat-tax-share",
      "label": "Tax assets as a share of the purchase price",
      "value": "≈11%",
      "provenance": "calculated",
      "note": "Acquiry calculation: approximately $220 million divided by approximately $1.97 billion.",
      "sources": "https://www.tradeweb.com/newsroom/media-center/news-releases/tradeweb-to-acquire-trumid-expanding-tradewebs-credit-capabilities-across-the-entire-bond-lifecycle-and-further-differentiating-its-multi-asset-class-platform/ | https://www.trumid.com/about | https://www.trumid.com/",
      "permalink": "https://www.acquiry.com/deal-intelligence/tradeweb-to-acquire-trumid/#stat-tax-share"
    },
    {
      "dataset": "key-figures",
      "id": "stat-traders",
      "label": "Traders transacting on Trumid each month",
      "value": "1,400+",
      "provenance": "disclosed",
      "note": "From 1,000 buy-side and sell-side institutions; Trumid internal data as of Q2 2026.",
      "sources": "https://www.tradeweb.com/newsroom/media-center/news-releases/tradeweb-to-acquire-trumid-expanding-tradewebs-credit-capabilities-across-the-entire-bond-lifecycle-and-further-differentiating-its-multi-asset-class-platform/ | https://www.trumid.com/about | https://www.trumid.com/",
      "permalink": "https://www.acquiry.com/deal-intelligence/tradeweb-to-acquire-trumid/#stat-traders"
    },
    {
      "dataset": "key-figures",
      "id": "stat-tw-clients",
      "label": "Tradeweb clients",
      "value": "3,000+",
      "provenance": "disclosed",
      "note": "In more than 85 countries, per Tradeweb’s company description.",
      "sources": "https://www.tradeweb.com/newsroom/media-center/news-releases/tradeweb-to-acquire-trumid-expanding-tradewebs-credit-capabilities-across-the-entire-bond-lifecycle-and-further-differentiating-its-multi-asset-class-platform/ | https://www.trumid.com/about | https://www.trumid.com/",
      "permalink": "https://www.acquiry.com/deal-intelligence/tradeweb-to-acquire-trumid/#stat-tw-clients"
    },
    {
      "dataset": "key-facts",
      "id": "fact-1",
      "label": "Status",
      "value": "Definitive agreement, 19 October 2026",
      "provenance": "disclosed",
      "note": "Unanimously approved by both boards. Targeted to close in the first half of 2027.",
      "sources": "https://www.tradeweb.com/newsroom/media-center/news-releases/tradeweb-to-acquire-trumid-expanding-tradewebs-credit-capabilities-across-the-entire-bond-lifecycle-and-further-differentiating-its-multi-asset-class-platform/ | https://www.trumid.com/about | https://www.trumid.com/",
      "permalink": "https://www.acquiry.com/deal-intelligence/tradeweb-to-acquire-trumid/"
    },
    {
      "dataset": "key-facts",
      "id": "fact-2",
      "label": "Purchase price",
      "value": "≈$1.97 billion",
      "provenance": "disclosed",
      "note": "$1.75 billion for the business and approximately $220 million for tax assets, subject to customary adjustments.",
      "sources": "https://www.tradeweb.com/newsroom/media-center/news-releases/tradeweb-to-acquire-trumid-expanding-tradewebs-credit-capabilities-across-the-entire-bond-lifecycle-and-further-differentiating-its-multi-asset-class-platform/ | https://www.trumid.com/about | https://www.trumid.com/",
      "permalink": "https://www.acquiry.com/deal-intelligence/tradeweb-to-acquire-trumid/"
    },
    {
      "dataset": "key-facts",
      "id": "fact-3",
      "label": "Consideration",
      "value": "≈$1.89bn cash + $82M equity",
      "provenance": "disclosed",
      "note": "Cash funded primarily through cash on hand.",
      "sources": "https://www.tradeweb.com/newsroom/media-center/news-releases/tradeweb-to-acquire-trumid-expanding-tradewebs-credit-capabilities-across-the-entire-bond-lifecycle-and-further-differentiating-its-multi-asset-class-platform/ | https://www.trumid.com/about | https://www.trumid.com/",
      "permalink": "https://www.acquiry.com/deal-intelligence/tradeweb-to-acquire-trumid/"
    },
    {
      "dataset": "key-facts",
      "id": "fact-4",
      "label": "Earnings effect",
      "value": "Accretive in year one",
      "provenance": "disclosed",
      "note": "To adjusted EPS within the first full year after closing, rising as expense synergies are realised.",
      "sources": "https://www.tradeweb.com/newsroom/media-center/news-releases/tradeweb-to-acquire-trumid-expanding-tradewebs-credit-capabilities-across-the-entire-bond-lifecycle-and-further-differentiating-its-multi-asset-class-platform/ | https://www.trumid.com/about | https://www.trumid.com/",
      "permalink": "https://www.acquiry.com/deal-intelligence/tradeweb-to-acquire-trumid/"
    },
    {
      "dataset": "key-facts",
      "id": "fact-5",
      "label": "Financial advisers",
      "value": "Morgan Stanley / Goldman Sachs",
      "provenance": "disclosed",
      "note": "Exclusive financial advisers to Tradeweb and Trumid respectively.",
      "sources": "https://www.tradeweb.com/newsroom/media-center/news-releases/tradeweb-to-acquire-trumid-expanding-tradewebs-credit-capabilities-across-the-entire-bond-lifecycle-and-further-differentiating-its-multi-asset-class-platform/ | https://www.trumid.com/about | https://www.trumid.com/",
      "permalink": "https://www.acquiry.com/deal-intelligence/tradeweb-to-acquire-trumid/"
    },
    {
      "dataset": "key-facts",
      "id": "fact-6",
      "label": "Trumid focus",
      "value": "US dollar IG, HY and EM credit",
      "provenance": "disclosed",
      "note": "Swarms, Attributed Trading, RFQ and Portfolio Trading in one application.",
      "sources": "https://www.tradeweb.com/newsroom/media-center/news-releases/tradeweb-to-acquire-trumid-expanding-tradewebs-credit-capabilities-across-the-entire-bond-lifecycle-and-further-differentiating-its-multi-asset-class-platform/ | https://www.trumid.com/about | https://www.trumid.com/",
      "permalink": "https://www.acquiry.com/deal-intelligence/tradeweb-to-acquire-trumid/"
    }
  ],
  "sources": [
    {
      "id": "s1",
      "title": "Tradeweb to Acquire Trumid, Expanding Tradeweb’s Credit Capabilities Across the Entire Bond Lifecycle and Further Differentiating its Multi-Asset Class Platform",
      "href": "https://www.tradeweb.com/newsroom/media-center/news-releases/tradeweb-to-acquire-trumid-expanding-tradewebs-credit-capabilities-across-the-entire-bond-lifecycle-and-further-differentiating-its-multi-asset-class-platform/",
      "publisher": "Tradeweb Markets Inc.",
      "date": "19 October 2026",
      "isoDate": "2026-10-19",
      "kind": "Press release"
    },
    {
      "id": "s2",
      "title": "About Us - Trumid",
      "href": "https://www.trumid.com/about",
      "publisher": "Trumid",
      "date": "Retrieved 20 October 2026",
      "isoDate": "2026-10-20",
      "kind": "Company website"
    },
    {
      "id": "s3",
      "title": "Trumid: The Art & Science of Electronic Trading",
      "href": "https://www.trumid.com/",
      "publisher": "Trumid",
      "date": "Retrieved 20 October 2026",
      "isoDate": "2026-10-20",
      "kind": "Company website"
    }
  ]
}