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Tradeweb Markets Inc. recently launched its Capital Market Authority-licensed Alternative Trading System (ATS) for Sukuk and Saudi Riyal-denominated debt in Saudi Arabia, facilitating inaugural trades between major financial institutions including BlackRock, BNP Paribas, and Goldman Sachs.
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This expansion marks the creation of Saudi Arabia’s first regulated electronic bond market, reflecting Tradeweb’s growing influence in emerging markets and alignment with the country’s push to deepen its capital markets and attract global investment.
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We’ll examine how the launch of Tradeweb’s Saudi ATS could impact its growth prospects and investment narrative in emerging markets.
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To be a shareholder in Tradeweb, you need to believe in the ongoing electronification of fixed income markets and the company’s ability to expand globally, especially in places like Saudi Arabia. The launch of its Saudi ATS broadens Tradeweb’s addressable market but does not materially change the near-term focus, which remains on slowing U.S. Treasury market share and pressure on fees; these remain the most important catalyst and risk for investors to monitor.
The upgraded dealer algorithmic execution for U.S. Treasuries (announced 9 October 2025) is highly relevant, as it directly targets the electronification challenge in Tradeweb’s core segment. This move could affect the company’s ability to regain share in a historically voice-driven market and speaks directly to current catalysts driving growth.
However, investors should also be aware that if electronification stalls in core products like U.S. Treasuries, it could …
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Tradeweb Markets is projected to reach $2.6 billion in revenue and $917.7 million in earnings by 2028. This outlook assumes a 10.6% annual revenue growth rate and an increase in earnings of about $359.9 million from the current $557.8 million.
Uncover how Tradeweb Markets’ forecasts yield a $134.33 fair value, a 21% upside to its current price.
Simply Wall St Community members see fair value for Tradeweb ranging from US$62 to over US$556 across three distinct analyses. With electronification posing both opportunity and risk, you can weigh these outlooks against ongoing market share trends in core products.
Explore 3 other fair value estimates on Tradeweb Markets – why the stock might be worth over 5x more than the current price!