Press release
Tradeweb Reports January 2024 Total Trading Volume of $42.6 Trillion and Record Average Daily Volume of $2.00 Trillion
January 2024 ADV up 74.6% YoY NEW YORK--(BUSINESS WIRE)-- Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for
About this update from Tradeweb Markets Inc.
[{"type":"text","content":"\nJanuary 2024 ADV up 74.6% 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 January 2024 of $42.6 trillion (tn)1. Average daily volume (ADV) for the month was a record $2.00tn, an increase of 74.6 percent (%) year-over-year (YoY).\n\n\nIn January 2024, 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\nADV in fully electronic U.S. High Grade credit\n\n\n\nADV in European credit\n\n\n\nADV in global repurchase agreements\n\n\n\nJanuary 2024 Highlights\n\n\nRATES\n\n\n\nU.S. government bond ADV was up 33.7% YoY to $182.1 billion (bn). European government bond ADV was up 18.5% YoY to $50.1bn.\n\n\nU.S.government bond volumes were supported by growth across all client sectors, including record volume on the institutional platform, as well as increased adoption across a diverse set of trading protocols and sustained rates market volatility. Higher interest rates continued to drive trading in the retail market on the short-end of the curve. Strong European government bond volumes were driven by sustained rates market volatility and new issuances in the primary market as well as increased client activity.\n\n\n\n\n\n\n\nMortgage ADV was up 23.9% YoY to $219.5bn.\n\n\nTo-Be-Announced (TBA) platform volumes were supported by elevated roll trading activity as well as strong participation from the hedge fund community. Specified pool trading volumes were up 94.5% YoY, driven by increased client adoption and origination executed on the platform.\n\n\n\n\n\n\n\nSwaps/swaptions ≥ 1-year ADV was up 207.2% YoY to $590.8bn and total rates derivatives ADV was up 194.2% YoY to $922.7bn.\n\n\nStrong volume in swaps/swaptions ≥ 1-year was driven by ongoing institutional client activity in response to current global central bank policy decisions, as well as a 379% YoY increase in compression activity, which carries a lower fee per million. Quarter-to-date compression activity is running higher than 4Q23. Clients continued to utilize the request-for-market (RFM) protocol for larger risk transfers, while inflation and emerging markets swap growth remained strong.\n\n\n\n\n\n\nCR...