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.
CONTINUED STRONG GROWTH IN OCTOBER 2019
Average daily volume (ADV) across rates, credit, equities and money markets for Tradeweb Markets was $704.5 billion (bn) in October 2019, an increase of 20.8 percent (%) year over year (YoY). Average daily trades for the month totaled 52,292.
Trading activity at Tradeweb during the month mostly met or exceeded levels recorded a year ago during a period of heightened market volatility. The increase was driven by an increase in mortgage trading of 15.9% to ADV of $178.1 bn. Interest rate derivatives trading rose 77.1% YoY to $200.7 bn, with longer tenor swaps and swaptions up 36.3% YoY. At the short end of the curve, repo trading increased 8.2% YoY to $181.7 bn. Activity in cash credit rose 35.3% YoY to a new record, following growth in US credit and Chinese bonds. U.S. high grade credit trading was up 36.5% YoY powered by increasing electronic trading. As a result, Tradeweb set a new record of 14.9% in high grade TRACE volume, and a new record for fully-electronic high grade with 6.7% of TRACE volume. Activity in Chinese bonds increased 171.7% YoY to $1.2 bn. European credit trading rose 4.9% YoY to $1.4 bn. European ETFs increased 7.4% to $1.4 bn.
Historical Traded Volumes
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