Tradeweb Appoints Dan Cleaves to Lead Dealerweb CLOB

Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced the appointment of Dan Cleaves as a Managing Director in its Dealerweb wholesale unit.

Based in New York, Mr. Cleaves will lead the strategy and development of the Dealerweb Central Limit Order Book (CLOB) recently acquired from Nasdaq. Mr. Cleaves will draw on his extensive experience running electronic markets for the most liquid Treasury instruments, interfacing with clients, technologists and regulators to ensure the successful integration and growth of Dealerweb CLOB. He will report to Chris Amen, Managing Director and Head of On-the-Run Treasury Trading at Dealerweb.

Mr. Amen commented: “In recent years we’ve built a leading marketplace for streaming Treasuries liquidity, enabling clients to glean the benefits of bilateral relationships in an efficient, electronic format. Dealerweb CLOB will allow us to offer even greater optionality and flexibility to new and existing clients. Dan’s extensive experience will be vital to our customers, and burgeoning team, as we realize more of our strategy to be the central destination for price discovery, risk transfer and hedging for wholesale market participants.”

Prior to joining Dealerweb, Mr. Cleaves was CEO of BrokerTec Americas with oversight of all global fixed income products. With ICAP and the NEX Group, he also served as Global Head of Product for EBS and BrokerTec and well as Head of U.S. Sales for BrokerTec. Mr. Cleaves started his career at Liberty Brokerage and spent 13 years managing accounts and executing trades for sell side firms.

Mr. Cleaves commented: “The addition of Dealerweb CLOB makes for an outsized opportunity to expand further the execution choices available to U.S. Treasury market participants. I’m excited to get to work.”

Tradeweb was established in 1997 as a destination for institutional U.S. Treasuries trading, and in June 2021 reported average daily volume of $119.4 billion in U.S. Treasury volume across institutional, wholesale and retail markets.

About Tradeweb Markets

Tradeweb Markets Inc. (Nasdaq: TW) is a leading, global operator of electronic marketplaces for rates, credit, equities and money markets. Founded in 1996, Tradeweb provides access to markets, data and analytics, electronic trading, straight-through-processing and reporting for more than 40 products to clients in the institutional, wholesale and retail markets. Advanced technologies developed by Tradeweb enhance price discovery, order execution and trade workflows while allowing for greater scale and helping to reduce risks in client trading operations. Tradeweb serves approximately 2,500 clients in more than 65 countries. On average, Tradeweb facilitated more than $920 billion in notional value traded per day over the past four fiscal quarters. For more information, please go to www.tradeweb.com.

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