Tradeweb debuts U.S. T-bill trading on ICD platform targeting corporate treasurers

June 26 (Reuters) - Tradeweb Markets (TW) said on Thursday that corporate treasurers and institutional investors using the ICD platform will now be able to trade U.S. Treasury bills directly, expanding its suite of fixed-income products.

The addition of U.S. T-bills, a highly liquid and short-term investment option, is expected to boost Tradeweb's trading volumes and related fee income, given the asset's popularity-especially during periods of monetary policy changes or macroeconomic uncertainty.

Tradeweb's U.S. Government bond's average daily volumes showed a nearly 22% growth for the quarter ended in March 31, 2025.

T-bills, compared to longer-term bonds, offer greater liquidity and appeal to corporate treasury teams, who are responsible for managing liquidity, optimizing short-term investments, and ensuring compliance at large companies.

Tradeweb

acquired investment technology firm Institutional Cash Distributors

for $785 million in 2024 to incorporate corporate treasury teams' interests into its platform.

Established in 2003, ICD enables treasury teams to invest in money market funds and other short-term products. The platform, which facilitates more than $4.5 trillion in annual trading volume, serves nearly 17% of S&P 100 companies.

"We plan to add more fixed income instruments to ICD Portal in the future, aligning with our clients' evolving investment strategies," said Tory Hazard, Managing Director at ICD.

Tradeweb, besides rates and credits, also offers trading in equities and money markets, serving asset managers, hedge funds, financial institutions and retail clients.

The company's shares have gained nearly 10% in 2025, as of last close.

(Reporting by Pritam Biswas in Bengaluru; Editing by Tasim Zahid)