<SEC-DOCUMENT>0001104659-20-049876.txt : 20200422
<SEC-HEADER>0001104659-20-049876.hdr.sgml : 20200422
<ACCEPTANCE-DATETIME>20200422213627
ACCESSION NUMBER:		0001104659-20-049876
CONFORMED SUBMISSION TYPE:	S-1MEF
PUBLIC DOCUMENT COUNT:		4
<REFERENCE-462B>333-237760
FILED AS OF DATE:		20200422
DATE AS OF CHANGE:		20200422
EFFECTIVENESS DATE:		20200422

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Tradeweb Markets Inc.
		CENTRAL INDEX KEY:			0001758730
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY & COMMODITY BROKERS, DEALERS, EXCHANGES & SERVICES [6200]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-1MEF
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-237798
		FILM NUMBER:		20809030

	BUSINESS ADDRESS:	
		STREET 1:		1177 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
		BUSINESS PHONE:		646-430-6000

	MAIL ADDRESS:	
		STREET 1:		1177 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-1MEF
<SEQUENCE>1
<FILENAME>tm2016457-2_s1mef.htm
<DESCRIPTION>S-1MEF
<TEXT>
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    <title>tm2016457-2_s1mef - none - 1.4961512s</title>
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          <font style="letter-spacing:0.16pt;">As filed with the Securities and Exchange Commission on April&#160;22, 2020 </font>
        </div>
        <div style="margin-top:1pt; text-align:right; width:541pt; line-height:10pt;font-weight:bold;">
          <font style="letter-spacing:0.16pt;">Registration No. 333-&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;</font>&#8203;</div>
        <div style="margin-top:2.5pt; width:541pt;">
          <div style="margin-left: 0pt; width: 541pt; margin-top: 0pt; font-size: 2pt; line-height: 0pt; border-bottom: 2pt solid #000000; ">&#8203;</div>
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          <div style="margin-left: 0pt; width: 541pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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        <div style="margin-top:5pt; text-align:center; width:541pt; line-height:13pt;font-weight:bold;font-size:12pt;">
          <font style="letter-spacing:0.24pt;">UNITED STATES</font>
          <br >
          <font style="letter-spacing:0.24pt;">SECURITIES AND EXCHANGE COMMISSION</font>
          <br >
          <font style="font-size:9pt;letter-spacing:0.18pt;">WASHINGTON, D.C. 20549</font><font style="letter-spacing:0.24pt;"> </font>
        </div>
        <div style="margin-top:9pt; text-align:center; width:541pt; line-height:11pt;font-weight:bold;font-size:9pt;">
          <font style="font-size:12pt;letter-spacing:0.24pt;">FORM S-1</font>
          <br >
          <font style="letter-spacing:0.18pt;">REGISTRATION STATEMENT</font>
          <br >
          <font style="letter-spacing:0.18pt;">UNDER</font>
          <br >
          <font style="letter-spacing:0.18pt;">THE SECURITIES ACT OF 1933</font><font style="font-size:12pt;">&#8203;<font style="letter-spacing:0.24pt;"> </font></font>
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        <div style="margin-top:9pt; text-align:center; width:541pt; line-height:21pt;font-weight:bold;font-size:20pt;">
          <font style="letter-spacing:0.4pt;">Tradeweb Markets Inc. </font>
        </div>
        <div style="margin-top:-1pt; text-align:center; width:541pt; line-height:10pt;">
          <font style="letter-spacing:0.16pt;">(Exact name of registrant as specified in its charter) </font>
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          <tr style="line-height:9pt;white-space:normal;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:174.34pt;">
              <div style="text-align:center;">
                <font style="font-weight:bold;letter-spacing:0.16pt;">Delaware</font>
                <br >
                <font style="letter-spacing:0.16pt;">(State or other jurisdiction of incorporation or organization) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:168.33pt;">
              <div style="text-align:center;">
                <font style="font-weight:bold;letter-spacing:0.16pt;">6200</font>
                <br >
                <font style="letter-spacing:0.16pt;">(Primary Standard Industrial Classification Code Number) </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:174.33pt;white-space:nowrap;">
              <div style="text-align:center;font-weight:bold;">
                <font style="letter-spacing:0.16pt;">83-2456358</font>
                <br >
                <font style="font-weight:normal;letter-spacing:0.16pt;">(I.R.S. Employer Identification No.)</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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        <div style="margin-top:1.4pt; text-align:center; width:541pt; line-height:9pt;font-weight:bold;">
          <font style="letter-spacing:0.16pt;">1177 Avenue of the Americas</font>
          <br >
          <font style="letter-spacing:0.16pt;">New York, New York 10036</font>
          <br >
          <font style="letter-spacing:0.16pt;">(646) 430-6000 </font>
          <br >
          <font style="font-weight:normal;letter-spacing:0.16pt;">(Address, including zip code, and telephone number, including area code, of registrant&#8217;s principal executive offices) </font>
        </div>
        <div style="margin-top:3pt; text-align:center; width:541pt; line-height:9pt;font-weight:bold;">
          <font style="letter-spacing:0.16pt;">Lee Olesky</font>
          <br >
          <font style="letter-spacing:0.16pt;">Chief Executive Officer</font>
          <br >
          <font style="letter-spacing:0.16pt;">1177 Avenue of the Americas</font>
          <br >
          <font style="letter-spacing:0.16pt;">New York, New York 10036</font>
          <br >
          <font style="letter-spacing:0.16pt;">(646) 430-6000 </font>
          <br >
          <font style="font-weight:normal;letter-spacing:0.16pt;">(Name, address, including zip code, and telephone number including area code, of agent for service) </font>
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        <div style="margin-top:3pt; text-align:center; width:541pt; line-height:9pt;font-weight:bold;">
          <font style="letter-spacing:0.16pt;">Copies to: </font>
        </div>
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          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:264.5pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.16pt;">Steven G. Scheinfeld, Esq.</font>
                <br >
                <font style="letter-spacing:0.16pt;">Andrew B. Barkan, Esq.</font>
                <br >
                <font style="letter-spacing:0.16pt;">Fried, Frank, Harris, Shriver &amp; Jacobson LLP</font>
                <br >
                <font style="letter-spacing:0.16pt;">One New York Plaza</font>
                <br >
                <font style="letter-spacing:0.16pt;">New York, New York 10004</font>
                <br >
                <font style="letter-spacing:0.16pt;">(212) 859-8000 </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:264.5pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.16pt;">Michael Kaplan, Esq.</font>
                <br >
                <font style="letter-spacing:0.16pt;">Shane Tintle, Esq.</font>
                <br >
                <font style="letter-spacing:0.16pt;">Davis Polk &amp; Wardwell LLP</font>
                <br >
                <font style="letter-spacing:0.16pt;">450 Lexington Avenue</font>
                <br >
                <font style="letter-spacing:0.16pt;">New York, New York 10017</font>
                <br >
                <font style="letter-spacing:0.16pt;">(212) 450-4000</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
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        <div style="margin-left:20pt; margin-top:5.98pt; width:521pt; line-height:9pt;">
          <font style="letter-spacing:0.16pt;">Approximate date of commencement of proposed sale to the public: As soon as practicable after this Registration Statement becomes effective. </font>
        </div>
        <div style="text-indent:20pt; margin-top:2pt; width:541pt; line-height:9pt;">
          <font style="letter-spacing:0.16pt;">If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule&#160;415 under the Securities Act of 1933, check the following box. &#9744; </font>
        </div>
        <div style="text-indent:20pt; margin-top:2pt; width:541pt; line-height:9pt;">
          <font style="letter-spacing:0.16pt;">If this Form is filed to register additional securities for an offering pursuant to Rule&#160;462(b) under the Securities Act of 1933, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. &#9746;&nbsp;&nbsp;&nbsp;File No. 333-237760 </font>
        </div>
        <div style="text-indent:20pt; margin-top:2pt; width:541pt; line-height:9pt;">
          <font style="letter-spacing:0.16pt;">If this Form is a post-effective amendment filed pursuant to Rule&#160;462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. &#9744; </font>
        </div>
        <div style="text-indent:20pt; margin-top:2pt; width:541pt; line-height:9pt;">
          <font style="letter-spacing:0.16pt;">If this Form is a post-effective amendment filed pursuant to Rule&#160;462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. &#9744; </font>
        </div>
        <div style="text-indent:20pt; margin-top:2pt; width:541pt; line-height:9pt;">
          <font style="letter-spacing:0.16pt;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of&#8201; &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company,&#8221; and &#8220;emerging growth company&#8221; in Rule&#160;12b-2 of the Exchange Act. </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:161pt;">
              <div style=" float:left; line-height:8pt; text-align:left; width:100pt;white-space:nowrap;">
                <font style="letter-spacing:0.16pt;">Large accelerated filer</font>
                <br >
              </div>
              <div style=" line-height:8pt; text-align:left; margin-left:100pt;">
                <font style="letter-spacing:0.16pt;">&#9744; </font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:155pt;">
              <div style=" float:left; line-height:8pt; text-align:left; width:100pt;white-space:nowrap;">
                <font style="letter-spacing:0.16pt;">Accelerated filer</font>
                <br >
              </div>
              <div style=" line-height:8pt; text-align:left; margin-left:100pt;">
                <font style="letter-spacing:0.16pt;">&#9744; </font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:161pt;">
              <div style=" float:left; line-height:8pt; text-align:left; width:100pt;white-space:nowrap;">
                <font style="letter-spacing:0.16pt;">Non-accelerated filer</font>
                <br >
              </div>
              <div style=" line-height:8pt; text-align:left; margin-left:100pt;">
                <font style="letter-spacing:0.16pt;">&#9746; </font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:161pt;">
              <div style=" float:left; line-height:8pt; text-align:left; width:100pt;white-space:nowrap;">
                <font style="letter-spacing:0.16pt;">Smaller reporting company</font>
                <br >
              </div>
              <div style=" line-height:8pt; text-align:left; margin-left:100pt;">
                <font style="letter-spacing:0.16pt;">&#9744; </font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:155pt;">
              <div style=" float:left; line-height:8pt; text-align:left; width:100pt;white-space:nowrap;">
                <font style="letter-spacing:0.16pt;">Emerging growth company</font>
                <br >
              </div>
              <div style=" line-height:8pt; text-align:left; margin-left:100pt;">
                <font style="letter-spacing:0.16pt;">&#9746; </font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:161pt;white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:2.98pt; width:541pt; line-height:9pt;">
          <font style="letter-spacing:0.16pt;">If an emerging growth company, indicate by check mark if the registrant has not elected to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&#160;7(a)(2)(B) of the Securities Act. &#9746; </font>
        </div>
        <table style="width:541pt;height:60.5pt;margin-top:4pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:3px double #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;" colspan="25">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.16pt;">CALCULATION OF REGISTRATION FEE </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:3px double #000000; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:2.083pt 0pt 2.167pt 0pt; width:290.78pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.16pt;">Title of Each Class of Securities to be Registered </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #000000; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #000000; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.083pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:0.16pt;">Amount to be </font>
                <br >
                <font style="letter-spacing:0.16pt;">Registered</font><font style=" position:relative; bottom:3.25pt;font-size:6pt;letter-spacing:0.12pt;">(1)</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #000000; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #000000; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.083pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:0.16pt;">Proposed </font>
                <br >
                <font style="letter-spacing:0.16pt;">Maximum </font>
                <br >
                <font style="letter-spacing:0.16pt;">Offering Price </font>
                <br >
                <font style="letter-spacing:0.16pt;">per Share</font><font style=" position:relative; bottom:3.25pt;font-size:6pt;letter-spacing:0.12pt;">(2)</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #000000; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #000000; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.083pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:0.16pt;">Proposed </font>
                <br >
                <font style="letter-spacing:0.16pt;">Maximum </font>
                <br >
                <font style="letter-spacing:0.16pt;">Aggregate </font>
                <br >
                <font style="letter-spacing:0.16pt;">Offering Price</font><font style=" position:relative; bottom:3.25pt;font-size:6pt;letter-spacing:0.12pt;">(2)</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #000000; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #000000; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:2.083pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">
                <font style="letter-spacing:0.16pt;">Amount of </font>
                <br >
                <font style="letter-spacing:0.16pt;">Registration Fee </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #000000; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:3px double #000000;padding:3.25pt 0pt 1pt 0pt; width:290.78pt;text-align:left;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.16pt;">Class&#160;A common stock, par value $0.00001 per share </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:3px double #000000; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:3px double #000000; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.285pt;width:0pt;border-bottom:3px double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1pt 0pt;border-bottom:3px double #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1pt 0pt;border-bottom:3px double #000000; min-width:19.5pt; text-align:right; white-space:nowrap;">242,745</td>
            <td style="padding:0pt;padding-left:9.285pt;width:0pt;border-bottom:3px double #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:3px double #000000; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:3px double #000000; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.035pt;width:0pt;border-bottom:3px double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1pt 0pt;border-bottom:3px double #000000; min-width:3pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 1pt 0pt;border-bottom:3px double #000000; min-width:15pt; text-align:right; white-space:nowrap;">50.25 </td>
            <td style="padding:0pt;padding-left:13.035pt;width:0pt;border-bottom:3px double #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:3px double #000000; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:3px double #000000; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.45pt;width:0pt;border-bottom:3px double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1pt 0pt;border-bottom:3px double #000000; min-width:3pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 1pt 0pt;border-bottom:3px double #000000; min-width:28.5pt; text-align:right; white-space:nowrap;">12,197,936 </td>
            <td style="padding:0pt;padding-left:7.45pt;width:0pt;border-bottom:3px double #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:3px double #000000; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:3px double #000000; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;border-bottom:3px double #000000;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1pt 0pt;border-bottom:3px double #000000; min-width:3pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 1pt 0pt;border-bottom:3px double #000000; min-width:21pt; text-align:right; white-space:nowrap;">1,583.30</td>
            <td style="padding:0pt;padding-left:10.83pt;width:0pt;border-bottom:3px double #000000;">&#8203;</td>
            <td style="padding:0pt;border-bottom:3px double #000000; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:9pt; margin-top:8.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.16pt;">(1)</font>
          <br >
        </div>
        <div style=" margin-top:8.98pt; margin-bottom:0pt; line-height:9pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.16pt;">This amount is in addition to the 12,592,500 shares of Class A common stock registered under the registration statement originally declared effective on April&#160;22, 2020 (File No. 333-237760), and includes shares of Class A common stock that may be purchased by the underwriters upon exercise of their option to purchase additional shares of Class A common stock. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:9pt; margin-top:3.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.16pt;">(2)</font>
          <br >
        </div>
        <div style=" margin-top:3.98pt; margin-bottom:0pt; line-height:9pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.16pt;">This amount represents the proposed maximum aggregate offering price of the securities registered hereunder. Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(a) under the Securities Act of 1933, as amended. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:4pt; width:521pt; line-height:9pt;font-weight:bold;">
          <font style="letter-spacing:0.16pt;">This Registration Statement shall become effective upon filing in accordance with Rule 462(b) under the Securities Act of 1933, as amended.</font>
        </div>
        <div style="margin-top:10.48pt; width:541pt;">
          <div style="margin-left: 0pt; width: 541pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:3pt; width:541pt;">
          <div style="margin-left: 0pt; width: 541pt; margin-top: 0pt; font-size: 2pt; line-height: 0pt; border-bottom: 2pt solid #000000; ">&#8203;</div>
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:19pt;min-height:715pt;margin-left:27pt;width:541pt;">
        <div style="text-align:center; width:541pt; line-height:11pt;font-weight:bold;">
          <font style="letter-spacing:0.2pt;">EXPLANATORY NOTE </font>
        </div>
        <div style="text-indent:20pt; margin-top:6pt; width:541pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This Registration Statement is being filed by Tradeweb Markets Inc. (the &#8220;Company&#8221;) pursuant to Rule 462(b) under the Securities Act of 1933, as amended, to register an additional number of shares of the Company&#8217;s Class A common stock, par value $0.00001 per share. The Company hereby incorporates by reference into this Registration Statement on Form S-1 in its entirety the Registration Statement on Form S-1 (File No. 333-237760), as amended (including the exhibits thereto), declared effective on April 22, 2020 by the U.S. Securities and Exchange Commission.</font>
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:46pt;min-height:660pt;margin-left:70pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:11pt;font-weight:bold;">
          <font style="letter-spacing:0.2pt;">INDEX TO EXHIBITS </font>
        </div>
        <table style="width:456pt;height:88pt;margin-top:7pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1.75pt 0pt; width:42pt;">
              <div style="white-space:nowrap;">
                <font style="letter-spacing:0.16pt;">Exhibit&#160;No. </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 1.75pt 0pt; width:402pt;text-align:center;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.16pt;">Exhibit&#160;Description</font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.5pt 0pt 0.75pt 0pt; width:42pt;">
              <a style="-sec-extract:exhibit" href="tm2016457_ex5-1.htm">
                <font style="letter-spacing:0.2pt;">5.1&#8201;&#8201; </font></a>
            </td>
            <td style="padding:0pt; width:6pt;">
              <a style="-sec-extract:exhibit" href="tm2016457_ex5-1.htm">&#8203;</a>
            </td>
            <td style="padding:0pt; width:6pt;">
              <a style="-sec-extract:exhibit" href="tm2016457_ex5-1.htm">&#8203;</a>
            </td>
            <td style="padding:2.5pt 0pt 0.75pt 0pt; width:402pt;">
              <a style="-sec-extract:exhibit" href="tm2016457_ex5-1.htm">
                <font style="letter-spacing:0.2pt;">Opinion of Fried, Frank, Harris, Shriver &amp; Jacobson LLP.</font></a>
            </td>
            <td style="padding:0pt; width:0pt;">
              <a style="-sec-extract:exhibit" href="tm2016457_ex5-1.htm">&#8203;</a>
            </td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 0.75pt 0pt; width:42pt;">
              <a style="-sec-extract:exhibit" href="tm2016457_ex23-1.htm">
                <font style="letter-spacing:0.2pt;">23.1 </font></a>
            </td>
            <td style="padding:0pt; width:6pt;">
              <a style="-sec-extract:exhibit" href="tm2016457_ex23-1.htm">&#8203;</a>
            </td>
            <td style="padding:0pt; width:6pt;">
              <a style="-sec-extract:exhibit" href="tm2016457_ex23-1.htm">&#8203;</a>
            </td>
            <td style="padding:2.75pt 0pt 0.75pt 0pt; width:402pt;">
              <a style="-sec-extract:exhibit" href="tm2016457_ex23-1.htm">
                <font style="letter-spacing:0.2pt;">Consent of Deloitte &amp; Touche LLP. </font></a>
            </td>
            <td style="padding:0pt; width:0pt;">
              <a style="-sec-extract:exhibit" href="tm2016457_ex23-1.htm">&#8203;</a>
            </td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 0.75pt 0pt; width:42pt;">
              <a style="-sec-extract:exhibit" href="tm2016457_ex23-2.htm">
                <font style="letter-spacing:0.2pt;">23.2 </font></a>
            </td>
            <td style="padding:0pt; width:6pt;">
              <a style="-sec-extract:exhibit" href="tm2016457_ex23-2.htm">&#8203;</a>
            </td>
            <td style="padding:0pt; width:6pt;">
              <a style="-sec-extract:exhibit" href="tm2016457_ex23-2.htm">&#8203;</a>
            </td>
            <td style="padding:2.75pt 0pt 0.75pt 0pt; width:402pt;">
              <a style="-sec-extract:exhibit" href="tm2016457_ex23-2.htm">
                <font style="letter-spacing:0.2pt;">Consent of PricewaterhouseCoopers LLP. </font></a>
            </td>
            <td style="padding:0pt; width:0pt;">
              <a style="-sec-extract:exhibit" href="tm2016457_ex23-2.htm">&#8203;</a>
            </td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:2.75pt 0pt 0.75pt 0pt; width:42pt;">
              <a style="-sec-extract:exhibit" href="tm2016457_ex5-1.htm">
                <font style="letter-spacing:0.2pt;">23.3 </font></a>
            </td>
            <td style="padding:0pt; width:6pt;">
              <a style="-sec-extract:exhibit" href="tm2016457_ex5-1.htm">&#8203;</a>
            </td>
            <td style="padding:0pt; width:6pt;">
              <a style="-sec-extract:exhibit" href="tm2016457_ex5-1.htm">&#8203;</a>
            </td>
            <td style="padding:2.75pt 0pt 0.75pt 0pt; width:402pt;">
              <a style="-sec-extract:exhibit" href="tm2016457_ex5-1.htm">
                <font style="letter-spacing:0.2pt;">Consent of Fried, Frank, Harris, Shriver &amp; Jacobson LLP (included in Exhibit&#160;5.1). </font></a>
            </td>
            <td style="padding:0pt; width:0pt;">
              <a style="-sec-extract:exhibit" href="tm2016457_ex5-1.htm">&#8203;</a>
            </td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:1.417pt 0pt 0.75pt 0pt; width:42pt;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1758730/000110465920048747/tv539139-s1.htm#tPOA ">
                <font style="letter-spacing:0.2pt;">24.1 </font></a>
            </td>
            <td style="padding:0pt; width:6pt;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1758730/000110465920048747/tv539139-s1.htm#tPOA ">&#8203;</a>
            </td>
            <td style="padding:0pt; width:6pt;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1758730/000110465920048747/tv539139-s1.htm#tPOA ">&#8203;</a>
            </td>
            <td style="padding:1.417pt 0pt 0.75pt 0pt; width:402pt;white-space:normal;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1758730/000110465920048747/tv539139-s1.htm#tPOA ">
                <font style="letter-spacing:0.2pt;">Power of Attorney (contained on the signature page to the Registration Statement on Form&#160;S-1 filed on April 20, 2020 (File No. 333-237760) and incorporated herein by reference).</font></a>
            </td>
            <td style="padding:0pt; width:0pt;">
              <a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1758730/000110465920048747/tv539139-s1.htm#tPOA ">&#8203;</a>
            </td>
          </tr>
        </table>
        <div style="width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;"> </font>
        </div>
      </div>
      <hr >
    </div>
    <div style=" width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:46pt;min-height:660pt;margin-left:70pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:11pt;font-weight:bold;">
          <font style="letter-spacing:0.2pt;">SIGNATURES </font>
        </div>
        <div style="text-indent:20pt; margin-top:9.98pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on this 22nd&#160;day of April, 2020. </font>
        </div>
        <table style="width:240pt;margin-bottom:4.99999999999999pt;margin-left:216pt;margin-top:8pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1.833pt 0pt; width:240pt;">
              <font style="letter-spacing:0.2pt;">Tradeweb Markets Inc.</font>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:15.167pt 0pt 1pt 0pt; width:240pt;">
              <div style=" float:left; line-height:10pt; text-align:left; width:20pt;white-space:nowrap;">
                <font style="letter-spacing:0.2pt;">By:</font>
                <br >
              </div>
              <div style=" line-height:10pt; text-align:left; margin-left:20pt;">
                <font style="letter-spacing:0.2pt;">/s/ Lee Olesky </font>
              </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
              <div style="margin-left:20.03pt; margin-top:2.5pt;">
                <div style="margin-left: 0pt; width: 219.97pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-left:20.03pt; margin-top:2pt;">
                <font style="letter-spacing:0.2pt;">Lee Olesky</font>
                <br >
                <font style="letter-spacing:0.2pt;">Chief Executive Officer</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:8.99pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed below by the following persons in the capacities and on the dates indicated. </font>
        </div>
        <table style="width:456pt;height:362.5pt;margin-top:8pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:114pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.16pt;">Signature </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:204pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.16pt;">Title </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:114pt;">
              <div style="white-space:nowrap; text-align:center;">
                <font style="letter-spacing:0.16pt;">Date </font>
              </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:7.917pt 0pt 2.833pt 0pt; width:114pt;">
              <div>
                <font style="letter-spacing:0.2pt;">/s/ Lee Olesky</font>
              </div>
              <div style="margin-top:2.5pt; text-align:justify;">
                <div style="margin-left: 0pt; width: 114pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt;">
                <font style="letter-spacing:0.2pt;">Lee Olesky </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:7.917pt 0pt 2.833pt 0pt; width:204pt;">
              <font style="letter-spacing:0.2pt;">Chief Executive Officer (Principal Executive Officer) and Director </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:7.917pt 0pt 2.833pt 0pt; width:114pt;white-space:nowrap;text-align:center;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">April&#160;22, 2020</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 2.833pt 0pt; width:114pt;">
              <div>
                <font style="letter-spacing:0.2pt;">/s/ Robert Warshaw</font>
              </div>
              <div style="margin-top:2.5pt; text-align:justify;">
                <div style="margin-left: 0pt; width: 114pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt;">
                <font style="letter-spacing:0.2pt;">Robert Warshaw </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 2.833pt 0pt; width:204pt;">
              <font style="letter-spacing:0.2pt;">Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer) </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 2.833pt 0pt; width:114pt;white-space:nowrap;text-align:center;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">April&#160;22, 2020</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 2.833pt 0pt; width:114pt;white-space:normal;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">*</font>
              </div>
              <div style="margin-top:2.5pt; text-align:justify;">
                <div style="margin-left: 0pt; width: 114pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt; text-align:left;">
                <font style="letter-spacing:0.2pt;">Steven Berns </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 2.833pt 0pt; width:204pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Director </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 2.833pt 0pt; width:114pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">April&#160;22, 2020 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:114pt;white-space:normal;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">*</font>
              </div>
              <div style="margin-top:2.5pt; text-align:left;">
                <div style="margin-left: 0pt; width: 114pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt; text-align:left;">
                <font style="letter-spacing:0.2pt;">Martin Brand </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:204pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Director </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:114pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">April&#160;22, 2020</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:114pt;white-space:normal;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">*</font>
              </div>
              <div style="margin-top:2.5pt; text-align:left;">
                <div style="margin-left: 0pt; width: 114pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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              <div style="margin-top:2pt; text-align:left;">
                <font style="letter-spacing:0.2pt;">John G. Finley </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:204pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Director </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:114pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">April&#160;22, 2020</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:114pt;white-space:normal;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">*</font>
              </div>
              <div style="margin-top:2.5pt; text-align:left;">
                <div style="margin-left: 0pt; width: 114pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt; text-align:left;">
                <font style="letter-spacing:0.2pt;">Scott C. Ganeles </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:204pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Director </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:114pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">April&#160;22, 2020</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:114pt;white-space:normal;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">*</font>
              </div>
              <div style="margin-top:2.5pt; text-align:left;">
                <div style="margin-left: 0pt; width: 114pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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              <div style="margin-top:2pt; text-align:left;">
                <font style="letter-spacing:0.2pt;">William Hult </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:204pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Director </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:114pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">April&#160;22, 2020</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:114pt;white-space:normal;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">*</font>
              </div>
              <div style="margin-top:2.5pt; text-align:left;">
                <div style="margin-left: 0pt; width: 114pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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              <div style="margin-top:2pt; text-align:left;">
                <font style="letter-spacing:0.2pt;">Paula B. Madoff </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:204pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Director </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:114pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">April&#160;22, 2020</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:114pt;white-space:normal;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">*</font>
              </div>
              <div style="margin-top:2.5pt; text-align:left;">
                <div style="margin-left: 0pt; width: 114pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt; text-align:left;">
                <font style="letter-spacing:0.2pt;">Thomas Pluta </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:204pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Director </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:114pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">April&#160;22, 2020</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:114pt;white-space:normal;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">*</font>
              </div>
              <div style="margin-top:2.5pt; text-align:left;">
                <div style="margin-left: 0pt; width: 114pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt; text-align:left;">
                <font style="letter-spacing:0.2pt;">Debra Walton </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:204pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Director </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:114pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">April&#160;22, 2020</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:114pt;white-space:normal;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">*</font>
              </div>
              <div style="margin-top:2.5pt; text-align:left;">
                <div style="margin-left: 0pt; width: 114pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt; text-align:left;">
                <font style="letter-spacing:0.2pt;">Brian West </font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:204pt;text-align:left;">
              <font style="letter-spacing:0.2pt;">Director </font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:114pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">April&#160;22, 2020 </font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:114pt;white-space:normal;">
              <div>
                <font style="letter-spacing:0.2pt;">* /s/ Douglas Friedman</font>
              </div>
              <div style="margin-top:2.5pt; text-align:justify;">
                <div style="margin-left: 0pt; width: 114pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt;">
                <font style="letter-spacing:0.2pt;">Attorney-in-Fact</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:204pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:114pt;text-align:center;">&#8203;</td>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>tm2016457_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 5.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">[Letterhead of Fried, Frank, Harris,
Shriver &amp; Jacobson LLP]</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">April 22, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Tradeweb Markets Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">1177 Avenue of the Americas</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">New York, New York 10036</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>Re:</B></TD><TD><B>Registration Statement filed under Rule 462(b)</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Ladies and Gentlemen:</P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We
have acted as counsel to Tradeweb Markets Inc., a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;) in connection with the
Company&rsquo;s (i) Registration Statement on Form S-1 (Registration No. 333-237760) (the &ldquo;<U>Initial Registration Statement</U>&rdquo;)
filed with the Securities and Exchange Commission (the &ldquo;<U>Commission</U>&rdquo;) under the Securities Act of 1933, as amended
(the &ldquo;Securities Act&rdquo;) and (ii) an additional Registration Statement on Form S-1 filed pursuant to Rule 462(b) under
the Securities Act (the &ldquo;<U>462(b) Registration Statement</U>&rdquo;). The 462(b) Registration Statement relates to the registration
of an additional  242,745&nbsp;shares of the Company&rsquo;s Class A common stock, par value $0.00001
per share (the &ldquo;<U>Class A common stock</U>&rdquo;) being offered by the Company (the &ldquo;<U>Additional Shares</U>&rdquo;).
The Additional Shares include shares which may be purchased by the underwriters upon the exercise of the option to purchase additional
Class A common stock granted to the underwriters by the Company. The Additional Shares are proposed to be sold pursuant to an underwriting
agreement (the &ldquo;<U>Underwriting Agreement</U>&rdquo;) to be entered into among the Company and Tradeweb Markets LLC and J.P.
Morgan Securities LLC, Barclays Capital Inc., Citigroup Global Markets Inc., Goldman Sachs &amp; Co. LLC and Morgan Stanley &amp;
Co. LLC, as representatives of the several underwriters named in Schedule I thereto. With your permission, all assumptions and
statements of reliance herein have been made without any independent investigation or verification on our part, and we express
no opinion with respect to the subject matter or accuracy of such assumptions or items relied upon. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In connection with
this opinion, we have (i) investigated such questions of law, (ii) examined the originals or certified, conformed, facsimile, electronic
or reproduction copies of such agreements, instruments, documents and records of the Company, such certificates of public officials
and such other documents and (iii) received such information from officers and representatives of the Company and others as we
have deemed necessary or appropriate for the purposes of this opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In all such examinations,
we have assumed the legal capacity of all natural persons, the genuineness of all signatures, the authenticity of original and
certified documents and the conformity to original or certified documents of all copies submitted to us as conformed, facsimile,
electronic or reproduction copies. As to various questions of fact relevant to the opinion expressed herein, we have relied upon,
and assume the accuracy of, certificates and oral or written statements and other information of or from public officials and officers
and representatives of the Company.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in">Page 2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Based upon the foregoing
and subject to the limitations, qualifications and assumptions set forth herein, we are of the opinion that the Additional Shares
have been duly authorized and, when issued and delivered pursuant to the Underwriting Agreement against payment of the consideration
set forth therein, will be validly issued, fully paid and nonassessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The opinion expressed
herein is limited to the applicable provisions of the General Corporation Law of the State of Delaware as currently in effect,
and no opinion is expressed with respect to any other laws or any effect that such other laws may have on the opinion expressed
herein. The opinion expressed herein is limited to the matters stated herein and no opinion is implied or may be inferred beyond
the matters expressly stated herein. We undertake no responsibility to update or supplement this letter after the effectiveness
of the 462(b) Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We hereby consent
to the filing of this opinion as an exhibit to the 462(b) Registration Statement and to the references to this firm under the
caption &ldquo;Legal Matters&rdquo; in the prospectus included in the Initial Registration Statement, which is incorporated by
reference into the 462(b) Registration Statement. In giving this consent, we do not hereby admit that we are in the category of
persons whose consent is required under Section&nbsp;7 of the Securities Act or the rules and regulations of the Commission.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; text-align: left"></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; text-align: left">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">/s/ Fried, Frank, Harris, Shriver &amp; Jacobson LLP</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">FRIED, FRANK, HARRIS, SHRIVER &amp; JACOBSON LLP</TD></TR>
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<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>tm2016457_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 23.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; background-color: white"><FONT STYLE="background-color: white">We consent to the incorporation
by reference in this Registration Statement on Form&nbsp;S-1 of our report dated February 21, 2020 relating to the financial statements
of Tradeweb Markets Inc. (which report expresses an unqualified opinion and includes an emphasis of a matter paragraph relating
to the Successor Period financial statements not being comparable to the Predecessor Period financial statements as a result of
pushdown accounting, and an emphasis of matter paragraph relating to the Company&rsquo;s reorganization transactions and initial
public offering on April 4, 2019) </FONT>appearing in the Annual Report on Form 10-K/A of Tradeweb Markets Inc. for the year ended
December 31, 2019, which is incorporated by reference in the Registration Statement on Form S-1 (No. 333-237760). We also consent
to the reference to us under the heading &quot;Experts&quot; in Registration Statement on Form S-1 (No. 333-237760) incorporated
by reference in this Registration Statement.on Form S-1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; background-color: white"><FONT STYLE="background-color: white">/s/
Deloitte&nbsp;&amp; Touche LLP</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; background-color: white"><FONT STYLE="background-color: white">New
York, New York</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><FONT STYLE="background-color: white">April
22, 2020</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



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<TYPE>EX-23.2
<SEQUENCE>4
<FILENAME>tm2016457_ex23-2.htm
<DESCRIPTION>EXHIBIT 23.2
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 23.2</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 24pt 0; text-align: center">CONSENT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0">We hereby consent to the incorporation by reference in this
Registration Statement on Form&nbsp;S-1 of Tradeweb Markets Inc. of our report dated December 17, 2018, except for the impact of
the amendment to the LLC agreement discussed in Note 2 to the consolidated financial statements as to which the date is May 20,
2019, relating to the financial statements of Tradeweb Markets LLC, which appears in Tradeweb Markets Inc.&rsquo;s Annual Report
on Form 10-K/A for the year ended December 31, 2019. We also consent to the reference to us under the heading &ldquo;Experts&rdquo;
in the Registration Statement on Form S-1 (No. 333-237760) incorporated by reference in this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">/s/ PricewaterhouseCoopers LLP<BR>
New York, New York</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">April 22, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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