{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-26-425378","form_type":"8-K","ticker":"TW","cik":"0001758730","company_name":"Tradeweb Markets Inc.","filed_at":"2026-10-19T21:17:18+00:00","discovered_at":"2026-10-19T21:18:00.249159+00:00","generated_at":"2026-10-19T21:18:08.137913+00:00","sec_items":["1.01","3.02","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"Tradeweb to acquire Trumid for $1.97 billion in cash-and-equity deal","bullets":["Tradeweb Markets agreed to buy Trumid Holdings for about $1.97 billion, comprising $1.888 billion cash and $82 million in equity via 733,900 LLC units and Class C shares.","Tradeweb expects the deal to be accretive to adjusted EPS within the first full year after closing, with accretion increasing as expense synergies are realized.","Cash consideration is expected to be funded primarily with cash on hand; closing is targeted for the first half of 2027 and requires HSR, UK CMA and FINRA approvals.","Trumid CEO Mike Sobel said the combination will fold Trumid's protocols and technology into Tradeweb's global footprint; a $105 million termination fee applies in certain cases.","Morgan Stanley advised Tradeweb and Goldman Sachs advised Trumid; Tradeweb will host a conference call on October 20, 2026 at 8:30 AM EDT."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-425378","json":"https://secwatch.observer/filing/0001193125-26-425378.json","markdown":"https://secwatch.observer/filing/0001193125-26-425378.md","text":"https://secwatch.observer/filing/0001193125-26-425378.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1758730/000119312526425378/0001193125-26-425378-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1758730/000119312526425378/d140509d8k.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-10-19T21:18:08.137913+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}