Tradeweb LLC, a Jersey City electronic trading system provider jointly owned by Thomson Reuters Corp. and nine financial companies, has acquired the brokerage company Hilliard Farber & Co. Inc.
Buying Hilliard Farber will enable Tradeweb to launch an electronic interdealer platform for pass-through mortgage-backed securities next year, Tradeweb said Monday.
The platform would complement the Hilliard Farber phone trades, Tradeweb said.
Hilliard Farber's "extensive brokerage experience, combined with Tradeweb's reputation in the electronic markets, promises to deliver a powerful offering to the dealer community," Billy Hult, Tradeweb's president, said in a press release.
