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 $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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