Monthly Activity Report
As the leading institutional, wholesale and retail marketplace for fixed income, derivatives and ETF trading, we believe that market participants will better understand the real impact of e-trading with more centralized access to data on our market activity.
Average daily volume (ADV) across rates, credit, equities and money markets for Tradeweb Markets was $652.0 billion (bn) in December 2019, an increase of 5.9 percent (%) year over year (YoY). Average daily trades for the month totaled 48,978.
Trading remained strong as the year drew to a close. Global credit trading recorded solid growth due in part to contributions from portfolio trading, all-to-all trading, and session-based trading. ADV in U.S. high-grade credit rose 75.0% YoY to $3.0 bn, representing a record 17.2% of TRACE volume with fully-electronic trading activity accounting for a record 8.4% of TRACE. ADV in
U.S. high-yield credit increased 62.9% to $340 million (mm), representing a record 4.8% of TRACE volume with fully-electronic trading activity accounting for a record 2.8% of TRACE. In similar regards, ADV in European credit rose 16.2% YoY to $1.0 bn. Mortgage volume increased 12.8% YoY to ADV of $148.3 bn during the month. Trading in repurchase agreements rose 21.1% YoY to $202.4 bn. Activity in European ETFs rose 24.3% YoY to $1.7 bn.
Volumes & Day Count
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