Tradeweb completed the acquisition of ICD from Parthenon Capital Partners for $785m.

Tradeweb, a global operator of electronic marketplaces for rates, credit, equities and money markets, completed the acquisition of Institutional Cash Distributors, an institutional investment technology provider, from Parthenon Capital Partners, a private equity firm, for $785m. “We are excited to complete the acquisition of ICD and launch corporates as a new client channel, offering a key new avenue for growth and building on our strong presence across our other core markets. Corporate treasurers represent an increasingly large and underserved opportunity within fixed income markets, and ICD’s differentiated technology offers the perfect gateway between corporates and global fixed income markets. The ICD team shares our commitment to continuous innovation and exceptional client service, and it is a pleasure to officially welcome them to Tradeweb," Billy Hult, Tradeweb CEO.