Press release
Tradeweb Reports Record Trading Volume for October 2021
Record Total Volume of $25.6 Trillion and Record Average Daily Volume of $1.26 Trillion NEW YORK--(BUSINESS WIRE)-- Tradeweb Markets Inc. (Nasdaq: TW), a
About this update from Tradeweb Markets Inc.
[{"type":"text","content":"\nRecord Total Volume of $25.6 Trillion and Record Average Daily Volume of $1.26 Trillion\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 trading volume for October 2021. Total trading volume for October 2021 was a record $25.6 trillion (tn), and average daily volume (ADV) for the month was a record $1.26tn, an increase of 39.4 percent (%) year over year (YoY).\n\nLee Olesky, Tradeweb CEO, said: “October 2021 was a record-breaking month for Tradeweb, with incredibly strong results in government bonds, rates derivatives and credit. The wide range of execution protocols we offer within those asset classes was centrally important to our clients, with robust usage of streams, request-for-market, portfolio trading, request-for-quote, and session-based trading. We believe the market participants we serve want to execute electronically, as well as digitize more of their trading workflows.”\n\nIn October, Tradeweb facilitated record activity in U.S. Treasuries, European Government Bonds, Rates Derivatives, and U.S. High Yield credit. Additionally, Tradeweb set new records in TRACE market share for both U.S. High Grade and U.S. High Yield, capturing 22.3% and 11.0% respectively, with a record 7.5% of U.S. High Yield transacted fully electronically.\n\nRATES\n\n\nU.S. government bond ADV was up 77.5% YoY to $148.9 billion (bn)1, and European government bond ADV was up 32.7% YoY to $36.3bn.\n\n\nRecord activity in U.S. government bonds was driven by a combination of factors including record trading across institutional and wholesale markets, boosted by streaming protocols, as well as the addition of the Nasdaq Fixed Income business. Record activity in European government bond trading continued to benefit from strong activity in UK Gilts. Steady global government bond issuance, along with recent rising rates market volatility, remained supportive of trading.\n\n\n\n\nMortgage ADV was down 6.5% YoY to $201.0bn.\n\n\nDeclining issuance and record home price appreciation weighed on overall market activity.\n\n\n\n\nSwaps/swaptions ≥ 1-year ADV was up 68.3% YoY to $202.9bn, and total rates derivatives ADV was up 135.8% YoY to $491.3bn.\n\n\nSwaps/swaptions ≥ 1-year volumes were driven by robust client i...