Monthly Activity Reports

Average daily volume (ADV) across rates, credit, equities and money markets for Tradeweb Markets was $832.4 billion (bn) in August 2019, representing an increase of 67.9 percent (%) year over year (YoY) and the second highest monthly total on record. Average daily trades for the month totaled 51,424.

In a reversal of a customary seasonal trend, Tradeweb total ADV rose month-over-month from July to August for the first time since 2011 powered by rising activity in both cash and derivatives. Activity in U.S. government bonds rose 40.1% YoY to record ADV of $88.6 bn with record activity in direct streams and sessions-based trading. Rates derivatives trading increased 132.5% to a
near-record ADV of $294.5 bn as short-end trading continued to see strong activity this year amidst overall YoY volume growth. Activity in mortgages increased 62.3% YoY to $175.9 bn per day. Credit trading remained strong as U.S. credit rose 31.1% YoY in high grade to $2.1bn per day and 23.1% YoY in high yield to $0.3 bn per day, while credit derivatives rose 118.1% YoY to $9.6 bn per day. China bond trading set a new record of $1.4 bn per day. European ETFs rose 107.2% YoY to record ADV of $1.9 bn while U.S. ETFs increased 66.2% YoY to ADV of $3.2 bn.