Tradeweb Markets: Betting On Market Volatility And Margins, While Leverage Risk Is Low

  • For my initial coverage of Tradeweb Markets, I called it a strong buy, as it presented a bullish case across 6 categories I considered. A volatile macro environment, global growth, and demand for market data should drive top-line upside while strong margins fuel the bottom line. The firm has been a proven dividend grower, and its expected operating cashflow growth and no long-term debt should be favorable to direct cash to dividend growth.