---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-191545"
form_type: "8-K"
ticker: "TW"
cik: "0001758730"
company_name: "Tradeweb Markets Inc."
filed_at: "2024-08-01T23:59:59+00:00"
generated_at: "2026-05-31T13:54:15.521215+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Tradeweb completes $785M all-cash acquisition of ICD; expects accretion to adjusted EPS in 12 months

## Summary
- Acquired ICD for $785M in cash, funded from cash on hand; also issued $4.5M in restricted Class A stock to an ICD equityholder.
- Adds corporate treasury professionals as a fourth client channel, accessing a $2+ billion addressable market.
- CEO Billy Hult cites ICD as gateway to underserved corporate treasury market; expects accretion to adjusted EPS within 12 months.
- ICD serves 500+ corporate treasury organizations, including ~17% of S&P 100, across 65 industries and 45+ countries.

## SEC filing metadata
- accession: 0001193125-24-191545
- form_type: 8-K
- ticker: TW
- cik: 0001758730
- company_name: Tradeweb Markets Inc.
- filed_at: 2024-08-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1758730/000119312524191545/0001193125-24-191545-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1758730/000119312524191545/d871527d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-191545
- JSON: https://secwatch.observer/filing/0001193125-24-191545.json
- Plain text: https://secwatch.observer/filing/0001193125-24-191545.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.