Tradeweb Takes Control of BondDesk
BondDesk provides fixed-income services to over 2,000 investment firms through its alternative trading system as well as a wealth management platform for financial advisors and asset managers.
"As demand for liquidity in institutional and retail fixed-income markets intersects, Tradeweb will continue to evolve market structure by providing our buy- and sell-side clients with efficient electronic marketplaces," says Lee Olesky, CEO of Tradeweb Markets.
John Cahalane, managing director and head of Tradeweb Retail, will lead the combined business, while BondDesk CEO Howard Edelstein will step down and return to private equity.
Terms of the transaction were not disclosed.
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