---
schema_version: "secwatch.filing_event.v1"
accession: "0001758730-23-000168"
form_type: "8-K"
ticker: "TW"
cik: "0001758730"
company_name: "Tradeweb Markets Inc."
filed_at: "2023-10-26T23:59:59+00:00"
generated_at: "2026-06-09T08:43:00.788127+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Tradeweb and LSEG sign two-year market data licensing deal with exclusive distribution rights

## Summary
- New two-year market data licensing agreement with LSEG (Refinitiv) effective Nov 1, 2023, replacing prior pact.
- LSEG will distribute Tradeweb fixed income data sets on an exclusive basis for certain products.
- Tradeweb expects increased revenue and flexibility; agreement includes fixed fees and revenue share.

## SEC filing metadata
- accession: 0001758730-23-000168
- form_type: 8-K
- ticker: TW
- cik: 0001758730
- company_name: Tradeweb Markets Inc.
- filed_at: 2023-10-26T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1758730/000175873023000168/0001758730-23-000168-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1758730/000175873023000168/tw-20231026.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001758730-23-000168
- JSON: https://secwatch.observer/filing/0001758730-23-000168.json
- Plain text: https://secwatch.observer/filing/0001758730-23-000168.txt

## Key facts
- Earnings Releases
  Tradeweb Markets Inc. reported financial results for the quarter ended September 30, 2023.
  - Period: the quarter ended September 30, 2023
  - Result: reported results
  source text: On October 26, 2023, Tradeweb Markets Inc. (the “Company”) issued a press release, a copy of which is furnished as Exhibit 99.1 hereto and incorporated herein by reference, announcing financial results for the quarter ended September 30, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1758730/000175873023000168/0001758730-23-000168-index.htm
- Material Agreements
  Tradeweb Markets Inc. entered into Master Data Agreement with Refinitiv US LLC and Refinitiv US Organization LLC valued at Tradeweb Markets LLC will license certain data sets to Refinitiv Subscriber in exchange for fixed li (effective 2023-11-01).
  - Action: entry
  - Agreement: license
  - Counterparty: Refinitiv US LLC and Refinitiv US Organization LLC
  - Value: Tradeweb Markets LLC will license certain data sets to Refinitiv Subscriber in exchange for fixed li
  - Effective: 2023-11-01
  source text: On October 25, 2023, Tradeweb Markets LLC (“Tradeweb Markets”), a wholly owned subsidiary of Tradeweb Markets Inc. (the “Company”) entered into a master data license agreement (the “Master Data Agreement”) with Refinitiv US LLC and Refinitiv US Organization LLC (together, the “Refinitiv Parties”), which effective as of November 1, 2023 amends and restates in its entirety the Second Amended and Restated Market Data Agreement, dated November 1, 2018, by and among Tradeweb Markets and the Refinitiv Parties, as amended.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1758730/000175873023000168/0001758730-23-000168-index.htm
- Material Agreements
  Tradeweb Markets Inc. amended Second Amended and Restated Market Data Agreement with Refinitiv US LLC and Refinitiv US Organization LLC valued at The Master Data Agreement amends and restates in its entirety the Second Amended and Restated Market (effective 2023-11-01).
  - Action: amendment
  - Agreement: license
  - Counterparty: Refinitiv US LLC and Refinitiv US Organization LLC
  - Value: The Master Data Agreement amends and restates in its entirety the Second Amended and Restated Market
  - Effective: 2023-11-01
  source text: On October 25, 2023, Tradeweb Markets LLC (“Tradeweb Markets”), a wholly owned subsidiary of Tradeweb Markets Inc. (the “Company”) entered into a master data license agreement (the “Master Data Agreement”) with Refinitiv US LLC and Refinitiv US Organization LLC (together, the “Refinitiv Parties”), which effective as of November 1, 2023 amends and restates in its entirety the Second Amended and Restated Market Data Agreement, dated November 1, 2018, by and among Tradeweb Markets and the Refinitiv Parties, as amended.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1758730/000175873023000168/0001758730-23-000168-index.htm

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