Tradeweb Markets said on 9 November 2026 that Tradeweb ICD Portal, its multi-fund platform for corporate treasury clients, will integrate BNY’s LiquidityDirect so clients can choose BNY for custody and short-term investments at the account level, with launch expected in the first quarter of 2027. Fintechbits reported that Tradeweb’s third-quarter 2026 revenue rose 14.9% to $584.5 million, eleven days before it announced the BNY tie-up for its corporate treasury portal.

What Tradeweb ICD Portal Clients Get

Tradeweb ICD Portal clients trade money market funds and other short-term investments through one screen. After the integration, new and existing clients can select BNY when they set up new accounts without changing their ICD Portal workflow, and the offering supports US and international investing. Tom Britton, co-head of corporates at Tradeweb, said the addition offers clients “greater flexibility in how they structure their accounts.”

For BNY, which reports $63.4 trillion in assets under custody and/or administration, this is distribution into a corporate treasury audience it already courts. For Tradeweb, the international angle matters most, since multinational treasurers want one portal across regions. Neither firm gives client numbers, assets on the portal or fees.

Money market fund portals such as Tradeweb ICD Portal compete on choice and on the custody plumbing that sits behind them. A treasurer who wants to keep cash with a particular custodian has, in practice, been limited by which banks a portal supports. Adding BNY, which says it serves over 90% of Fortune 100 companies, removes that constraint for a large group of potential clients. Clint Craft, head of liquidity and margin at BNY, said the tie-up combines BNY’s capabilities with Tradeweb’s client network and workflow. The release does not say whether existing accounts can migrate to BNY custody, only that clients can select BNY when they open new ones. The portal deal follows Tradeweb’s larger move into credit, the $1.97 billion Trumid acquisition.