Press release
Tradeweb Reports Record March 2025 Total Trading Volume of $59.6 Trillion and Record Average Daily Volume of $2.71 Trillion
March 2025 ADV up 49.9% YoY First Quarter 2025 ADV up 33.7% YoY NEW YORK--(BUSINESS WIRE)-- Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of
About this update from Tradeweb Markets Inc.
[{"type":"text","content":"\nMarch 2025 ADV up 49.9% YoY\n\nFirst Quarter 2025 ADV up 33.7% 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 record total trading volume for the month of March 2025 of $59.6 trillion (tn)1. Average daily volume (ADV) for the month was a record $2.71tn, an increase of 49.9 percent (%) year-over-year (YoY). For the first quarter of 2025, total trading volume was a record $164.5tn and ADV was a record $2.55tn, an increase of 33.7% YoY, with preliminary average variable fees per million dollars of volume traded of $2.31 and total preliminary fixed fees for rates, credit, equities and money markets of $85.1 million (mm)2. Excluding the impact of the ICD acquisition, which closed on August 1, 2024, total ADV for the month of March was up 34.8% YoY and total ADV for the first quarter of 2025 was up 19.1% YoY.\n\nTradeweb CEO Billy Hult said: “Electronic trading remained sticky and resilient across asset classes on Tradeweb, as market share gains and heightened market volatility helped drive record volume for the month of March and for the first quarter.\"\n\nRecord Highlights\n\nFor the month of March 2025, Tradeweb records included:\n\n\nADV in European government bonds\n\n\nADV in U.S. swaps/swaptions ≥ 1-year\n\n\nADV in fully electronic U.S. high grade credit\n\n\nADV in fully electronic U.S. high yield credit\n\n\nADV in European credit\n\n\nADV in credit swaps\n\n\nADV in European ETFs\n\n\nADV in repurchase agreements\n\n\nFor the first quarter of 2025, Tradeweb records included:\n\n\nADV in U.S. government bonds\n\n\nADV in European government bonds\n\n\nADV in mortgages\n\n\nADV in U.S. swaps/swaptions ≥ 1-year\n\n\nADV in fully electronic U.S. high grade credit\n\n\nADV in fully electronic U.S. high yield credit\n\n\nADV in European credit\n\n\nADV in credit swaps\n\n\nADV in repurchase agreements\n\n\nMarch 2025 Highlights\n\nRATES\n\n\nU.S. government bond ADV was up 30.0% YoY to $249.3 billion (bn). European government bond ADV was up 27.6% YoY to $63.4bn.\n\n\nStrong U.S. Treasuries ADV was led by record activity across the institutional client channel and robust activity across the wholesale client channel. Record European government bond ADV was driven by strong volumes across ...