(Bloomberg) -- Tradeweb Markets Inc., the bond and derivative platform co-owned by financial-data platform Refinitiv, filed for a U.S. initial public offering, kicking off plans to go public five months after being acquired as part of a $17 billion buyout.
Tradeweb filed with an initial offering size of $100 million, typically a placeholder amount used to calculate fees that’s likely to change. The IPO is being led by JPMorgan Chase & Co., Citigroup Inc., Goldman Sachs Group Inc. and Morgan Stanley, according to a filing with the U.S. Securities & Exchange Commission Thursday.
The platform could be worth more than $4 billion in an IPO, people with knowledge of the matter said in January. Blackstone Group LP acquired 55 percent of Refinitiv for $17 billion last year with co-investors Canada Pension Plan Investment Board and GIC, Singapore’s sovereign-wealth fund.
Tradeweb, formed in 1996 and based in New York, builds and operates over-the-counter marketplaces for fixed-income and derivative products. Several large banks are among its investors, including Deutsche Bank AG, UBS Group AG and Royal Bank of Scotland Group Plc.
Bloomberg LP, the parent company of Bloomberg News, competes with Thomson Reuters and Refinitiv in providing news, data and information to the financial industry.
Tradeweb applied to list shares on Nasdaq Global Market under the symbol “TW.”
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