Press release
Tradeweb Reports Record Trading Volume of $28.2 Trillion in March with 14.0% YoY Increase in Average Daily Volume
First Quarter 2022 Record Average Daily Volume up 10.9% 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":"\nFirst Quarter 2022 Record Average Daily Volume up 10.9% 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 record total trading volume for March 2022 of $28.2 trillion (tn). Average daily volume (ADV) for the month was $1.23tn, an increase of 14.0 percent (%) year-over-year (YoY). For the first quarter of 2022, total trading volume was a record $73.1tn and ADV was a record $1.17tn, an increase of 10.9% YoY, with preliminary average variable fees per million dollars of volume traded of $2.93.1\n\nIn March, Tradeweb reported record ADV in swaps/swaptions ≥ 1-year. For the first quarter of 2022, Tradeweb reported record activity across most product groups, including: U.S. and European government bonds; swaps/swaptions ≥ 1-year; fully electronic U.S. High Grade and fully electronic U.S. High Yield credit; European credit; U.S. and European ETFs; and Repurchase agreements.\n\nMarch Highlights\n\nRATES\n\n\nU.S. government bond ADV was up 30.1% YoY to $148.6 billion (bn),2 and European government bond ADV was up 22.4% YoY to $37.9bn.\n\n\nTrading in U.S. government bonds was supported by strong client activity in institutional and wholesale markets; the continued momentum of session-based trading and streaming protocols; and the addition of the Nasdaq Fixed Income business. Global government bond trading remained strong amidst heightened rates market volatility as yields continued to rise across developed markets.\n\n\n\n\nMortgage ADV was down 7.9% YoY to $185.9bn.\n\n\nDeclining issuance and rising yields continued to weigh on overall market activity.\n\n\n\n\nSwaps/swaptions ≥ 1-year ADV was up 12.4% YoY to $249.6bn, and total rates derivatives ADV was up 27.3% YoY to $401.5bn.\n\n\nRecord swaps/swaptions ≥ 1-year volumes were driven by robust client interest in the request-for-market (RFM) protocol, increased engagement from international clients and strong trading activity in emerging markets swaps. Increased market focus on evolving central bank policy continued to buoy overall market activity.\n\n\n\n\nCREDIT\n\n\nFully electronic U.S. Credit ADV was up 5.7% YoY to $3.8bn and European credit ADV was down 0.7% YoY to $2.1bn.\n\n\nU.S. and European credit volumes reflected continued client ad...