AMSTERDAM and LONDON, November 12, 2026. Propellant Digital (“Propellant”), a fixed income market structure and data analytics company, today announced an expanded multi-year agreement with Tradeweb Markets Inc. (Nasdaq: TW), a global leader in electronic trading across asset classes, to extend the use of Propellant’s technology across Tradeweb’s automated pricing engines, execution tools, and analytics workflows.

Propellant’s technology supports the aggregation, cleansing and normalising of data from multiple sources, removing duplicate reports, applying deferral and amendment logic consistently, and standardising instrument classifications. These capabilities enable data from different reporting regimes to be compared on a consistent basis. Building on a commercial relationship established in 2022, the agreement extends Tradeweb’s use of Propellant’s technology to process:

• post-trade data published under the EU and UK MiFIR transparency regimes by approved publication arrangements (APAs) and trading venues
• the UK bond consolidated tape, live since June 2026, and the EU bond consolidated tape, once launched (expected in Q1 2027) and subject to licensing
• FINRA TRACE
• CFTC-regulated swap data repositories (SDRs)

The agreement comes as the UK and EU bond consolidated tapes become established. The tapes are designed as a foundation for the market, with further cleansing and analytics provided by a downstream layer of aggregators and analytics providers. Comparing consolidated tape, venue and APA, TRACE and swap data on a like-for-like basis requires consistent treatment of duplicate reports, deferrals and amendments, and common instrument classification, which Propellant’s technology provides.

Vincent Grandjean, Founder and CEO at Propellant, said:

“Tradeweb has been an important collaborator since our earliest days. This next phase reflects our shared focus on making fragmented fixed income data more accessible and useful, helping market participants assess liquidity, benchmark execution, and identify market trends.”

About Propellant Digital

Founded in 2021, Propellant Digital is a fixed income market structure and data analytics company headquartered in Amsterdam. Propellant’s technology enables clients to aggregate, cleanse and normalise public post-trade data from more than 125 APAs, exchanges and trading venues, as well as FINRA TRACE and swap data repositories, giving them a neutral, multi-venue view of activity across bonds, derivatives and fixed income ETFs. Its analytics help institutions assess liquidity, benchmark execution and monitor market trends. More than 35 institutions use Propellant, including global and regional banks, asset managers, hedge funds, trading venues, regulators and industry associations. For more information, please go to www.propellant.digital.