Press release
Tradeweb Reports December 2023 Total Trading Volume of $28.9 Trillion and Average Daily Volume of $1.46 Trillion
Month of December 2023 ADV up 43.3% YoY Fourth Quarter 2023 ADV up 56.9% YoY Full Year 2023 ADV up 27.6% YoY NEW YORK--(BUSINESS WIRE)-- Tradeweb Markets
About this update from Tradeweb Markets Inc.
[{"type":"text","content":"\nMonth of December 2023 ADV up 43.3% YoY\n\n\nFourth Quarter 2023 ADV up 56.9% YoY\n\n\nFull Year 2023 ADV up 27.6% YoY\n\n\n NEW YORK--(BUSINESS WIRE)--\nTradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today reported total trading volume for the month of December 2023 of $28.9 trillion (tn). Average daily volume (ADV) for the month was $1.46tn, an increase of 43.3 percent (%) year-over-year (YoY). For the fourth quarter of 2023, total trading volume was $104.4tn and ADV was $1.68tn, an increase of 56.9% YoY, with preliminary average variable fees per million dollars of volume traded of $2.54.1\n\n\nBilly Hult, Tradeweb CEO, said: “Historic interest rate moves, geopolitical uncertainty and ongoing market volatility helped drive a 2023 resurgence in fixed income. Despite a challenging start to the year, we reported a 27.6% YoY increase in average daily volume for the full year and broke numerous volume records across rates, credit, equities and money markets. The fourth quarter was particularly strong in rates, and in December we reported a record 18.2% share of fully electronic U.S. High Grade TRACE for the month.”\n\n\nRecord Highlights (See table below for the full breakdown of volumes)\n\n\nThe month of December 2023 Tradeweb records included:\n\n\n\nShare of fully electronic U.S. High Grade TRACE\n\n\n\nADV in U.S. ETFs\n\n\n\nADV in equity convertibles/swaps/options\n\n\n\nFourth quarter 2023 Tradeweb records included:\n\n\n\nADV in U.S. government bonds\n\n\n\nADV in swaps/swaptions ≥ 1-year\n\n\n\nShare of and ADV in fully electronic U.S. High Grade TRACE\n\n\n\nADV in equity convertibles/swaps/options\n\n\n\nADV in global repurchase agreements\n\n\n\nFull year 2023 Tradeweb records included:\n\n\n\nADV in U.S. government bonds\n\n\n\nADV in European government bonds\n\n\n\nADV in swaps/swaptions ≥ 1-year\n\n\n\nShare of and ADV in fully electronic U.S. High Grade and U.S. High Yield TRACE\n\n\n\nADV in European credit\n\n\n\nADV in Chinese bonds\n\n\n\nADV in U.S. ETFs\n\n\n\nADV in equity convertibles/swaps/options\n\n\n\nADV in global repurchase agreements\n\n\n\nThe month of December 2023 Highlights\n\n\nRATES\n\n\n\nU.S. government bond ADV was up 39.8% YoY to $159.5 billion (bn). European government bond ADV was up 21.5% YoY to...