Tradeweb's acquisition of ICD marks a strategic expansion into the corporate treasury market, adding a significant fourth client channel to its already robust portfolio. This move not only opens up a substantial $2+ billion addressable market but also aligns with Tradeweb’s mission of continuous innovation and exceptional client service. By integrating ICD’s advanced technology, Tradeweb is poised to provide enhanced solutions for corporate treasury organizations, optimizing yield and duration management while leveraging its international presence to accelerate growth. This acquisition is expected to be accretive to Tradeweb’s adjusted earnings per share, underscoring the financial prudence of this strategic expansion.