Business
Tradeweb Reports December Total Trading Volume of $18.2 Trillion
December Average Daily Volume up 28.0% YoY to $834.5bn Q4 2020 Record Average Daily Volume up 30.9% YoY NEW YORK--(BUSINESS WIRE)-- Tradeweb Markets Inc.
About this update from Tradeweb Markets Inc.
[{"type":"text","content":"\n December Average Daily Volume up 28.0% YoY to $834.5bn\n\nQ4 2020 Record Average Daily Volume up 30.9% YoY\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 December of $18.2 trillion (tn). Average daily volume (ADV) for the month was $834.5 billion (bn), an increase of 28.0 percent (%) year over year (YoY).\n\nTradeweb fully electronic trading captured a record 10.6% of U.S. High Grade TRACE and 4.5% of U.S. High Yield TRACE in December. Rates Derivatives captured record SEF market share for the month.\n\nFor the fourth quarter of 2020, Tradeweb reported record ADV of $897.9bn, up 30.9% YoY. Tradeweb captured quarterly record TRACE market share in U.S. High Grade and U.S. High Yield bonds, with fully electronic representing the majority of each. Quarterly ADV records were also set in U.S. High Yield, Chinese bonds and Repurchase agreements.\n\nLee Olesky, Tradeweb CEO, said: “A strong December capped off a record quarter for Tradeweb, with all of our asset classes contributing. While our volumes in 2020 were impacted by a variety of factors including remote work, massive debt issuance and periods of market volatility, our fourth quarter success was clearly driven by broader adoption of electronic trading tools and protocols. We believe this trend towards more electronic trading will continue into 2021.”\n\nFor the fourth quarter of 2020, Tradeweb reported preliminary average variable fees per million dollars of volume traded of $2.51.\n\nTradeweb also reported record ADV of $838.0bn, up 15.3% YoY, for the year ending December 31, 2020, with total annual volumes of $211.2tn.\n\nDecember Highlights\n\nRATES\n\n\nU.S. government bond ADV was up 27.5% YoY to $92.0bn, and European government bond ADV was up 21.0% YoY to $20.4bn.\n\n\nTrading activity in U.S. Treasuries continued to be supported by growth in execution via firm streams as well as new client acquisition. Higher global government bond issuances continued to support robust secondary trading, while a clearer outlook regarding the COVID-19 vaccines, the U.S. election, and Brexit also contributed to heightened activity.\n\n\n\n\n\nMortgage ADV was up 23.7% YoY to $183.4bn.\n\n\nLow mortgage rates continued to supp...