Tradeweb amends data license with LSEG affiliates, extends term to 2028

Tradeweb Markets Inc.

Amendments entered Dec 31, 2025, effective Nov 1, 2025, restating Data Schedules 1, 2, 4, 5.
License covers market data for fixed income and derivatives products.
Initial license period Nov 1, 2025 – Oct 31, 2028, with auto-renewal for two 2-year terms.
Fees include fixed license fees and revenue-based fees from LSEG Subscriber.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Tradeweb Markets Inc. amended Amendments to Master Data Agreement with Refinitiv US LLC and Refinitiv US Organization LLC (LSEG Parties) valued at fixed license fees or fees based on percentage of revenue (effective 2025-11-01).

Action: amendment
Agreement: license
Counterparty: Refinitiv US LLC and Refinitiv US Organization LLC (LSEG Parties)
Value: fixed license fees or fees based on percentage of revenue
Effective: 2025-11-01

Exact text from the filing

On December 31, 2025, Tradeweb Markets LLC (“Tradeweb Markets”), a wholly owned subsidiary of Tradeweb Markets Inc. (the “Company”), entered into a series of amendments effective as of November 1, 2025 (the “Amendments”) with Refinitiv US LLC and Refinitiv US Organization LLC (together, the “LSEG Parties”) to the master data license agreement, effective as of November 1, 2023, among Tradeweb Markets and the LSEG Parties (the “Master Data Agreement”).

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Source: SEC EDGAR

accession 0001758730-26-000008

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