Tradeweb Markets, leading rates and credit trading platform, has announced its acquisition of Institutional Cash Distributors (ICD) for $785 million. This move aims to enhance Tradeweb’s appeal to corporate treasury professionals by providing them with expanded investment options for managing liquidity and financial risks. Established in 2003, ICD specializes in enabling corporate treasury teams to invest in money market funds and other short-term investment products, boasting a client base that includes nearly 17% of the companies in the S&P 100 index. Additionally, ICD offers trade, analysis, and research services, with an impressive client retention rate of 99%.
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