Tradeweb Markets Inc.’s $1.242 Billion Initial Public Offering

Davis Polk advised the representatives of the several underwriters in connection with the $1.242 billion initial public offering of 46,000,000 shares of Class A common stock of Tradeweb Markets Inc., which included 6,000,000 shares from the full exercise of the underwriters’ over-allotment option to purchase additional shares.

Tradeweb is traded on the Nasdaq Global Select Market under the symbol “TW.”

J.P. Morgan, Citigroup?, Goldman Sachs & Co. LLC, Morgan Stanley?, BofA Merrill Lynch, Barclays, Credit Suisse, Deutsche Bank Securities, UBS Investment Bank, Wells Fargo Securities, Jefferies and Sandler O’Neill + Partners, L.P. acted as underwriters on the deal.

Tradeweb is a leading, global operator of electronic marketplaces for rates, credit, equities and money markets. Founded in 1996, Tradeweb provides access to markets, data and analytics, electronic trading, straight-through-processing and reporting for more than 40 products to clients in the institutional, wholesale and retail markets. Advanced technologies developed by Tradeweb enhance price discovery, order execution and trade workflows while allowing for greater scale and helping to reduce risks in client trading operations. Tradeweb serves approximately 2,500 clients in more than 60 countries. In an average trading day, Tradeweb facilitates more than $540 billion in notional value.

The Davis Polk corporate team included partner Michael Kaplan (Picture) and associates Hillary A. Coleman, Young-Min Cho, Claudia Carvajal Lopez and David Li. Partner William A. Curran and associate Elina Khodorkovsky provided tax advice. Partner Jai R. Massari and associates Mark A. Sater and Alba Baze provided financial institutions advice. Counsel Marcie A. Goldstein provided FINRA advice.

Involved fees earner: Alba Baze – Davis Polk & Wardwell; Claudia Carvajal Lopez – Davis Polk & Wardwell; Young-Min Cho – Davis Polk & Wardwell; Hillary Coleman – Davis Polk & Wardwell; William Curran – Davis Polk & Wardwell; Marcie Goldstein – Davis Polk & Wardwell; Michael Kaplan – Davis Polk & Wardwell; Elina Khodorkovsky – Davis Polk & Wardwell; David Li – Davis Polk & Wardwell; Jai Massari – Davis Polk & Wardwell; Mark Sater – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Bank of America Merrill Lynch; Barclays Bank; Citigroup Inc.; Credit Suisse; Deutsche Bank Securities; Goldman Sachs & Co.; Jefferies; JP Morgan; Morgan Stanley; Sandler O’Neill & Partners, L.P.; UBS Investment Bank; Wells Fargo Securities;