Tradeweb Markets Could File for IPO This Week

(Bloomberg) -- Refinitiv, the financial-data firm co-owned by Blackstone Group LP and Thomson Reuters Corp., could officially file for an initial public offering of its Tradeweb Markets business as soon as this week, according to people familiar with the matter.

The filing, known as an S-1, is a detailed prospectus with business and strategy information as well as financial figures for investors considering participating in the IPO.

The bond and derivative trading platform could be worth more than $4 billion when it goes public, people familiar with the matter said in January. Refinitiv previously confidentially filed to take Tradeweb public, those people said.

Blackstone 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.

Spokesmen for Refinitiv, Thomson Reuters and Tradeweb declined to comment. A Blackstone representative didn’t immediately respond to a request for comment.

Tradeweb, formed in 1998 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.

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