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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) for the month was $1.02 trillion (tn), an increase of 17.4 percent (%) year over year (YoY). For the third quarter of 2021, ADV was $964.5 billion (bn), an increase of 23.6% YoY. Average daily trades for the month totaled 62,513.

In September, Tradeweb facilitated a record $887 million per day in U.S. High Yield credit. Tradeweb also set ADV records in both U.S. government bonds and European government bonds. In addition, client adoption of the request-for-market (RFM) protocol drove record SEF share for swaps ≥ 1-year.1

For the third quarter of 2021, Tradeweb set new records in TRACE market share in both U.S. High Grade and U.S. High Yield, capturing a quarterly record 12.6% and 6.2%, respectively, for fully electronic trading. U.S. government bond ADV was also a record.

Volumes & Day Count

TW Historical ADV and Day Count through Sept. 2021.pdf
TW Historical ADV and Day Count through Sept. 2021.xlsx
Tradeweb MAR September 2021_News Release.pdf
TW Trade Days Calendar_2020_through_2023.xlsx
Trading Days 2020-2023.pdf

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Monthly Activity Report

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