Press release
Tradeweb Reports Total August Trading Volume of $23.4 Trillion With 13.0% YoY Increase in Average Daily Volume
NEW YORK--(BUSINESS WIRE)-- Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money
About this update from Tradeweb Markets Inc.
[{"type":"text","content":" 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 August 2022 of $23.4 trillion (tn). Average daily volume (ADV) for the month was $1.02tn, an increase of 13.0 percent (%) year-over-year (YoY).\n\nTradeweb's diversified offering across products, geographies and client sectors supported double-digit growth, amidst a complex macroeconomic background driven by evolving central bank policy, sustained elevated volatility, economic concerns and a stronger dollar.\n\nRATES\n\n\nU.S. government bond ADV was up 0.7% YoY to $124.2 billion (bn), and European government bond ADV was up 22.7% YoY (up 42.2% YoY in EUR terms) to $27.5bn.\n\n\nClient engagement in U.S. government bonds across institutional and wholesale markets remained high, while higher interest rates drove strong growth in the retail market. European government bond trading remained elevated amidst heightened rates market volatility.\n\n\n\n\nMortgage ADV was down 7.9% YoY to $157.1bn.\n\n\nRisk-off sentiment and declining issuance weighed on trading activity and sector performance.\n\n\n\n\nSwaps/swaptions ≥ 1-year ADV was up 34.0% YoY to $169.4bn, and total rates derivatives ADV was up 26.4% YoY to $283.5bn.\n\n\nSwaps/swaptions ≥ 1-year volumes were supported by robust trading in global inflation swaps, strong activity in emerging markets swaps, increased engagement from international clients and robust client interest in the request-for-market (RFM) protocol. Ongoing 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 14.8% YoY to $3.5bn and European credit ADV was down 9.6% YoY (up 4.8% YoY in EUR terms) to $1.0bn.\n\n\nU.S. and European credit volumes reflected continued client adoption across all Tradeweb protocols, including request-for-quote (RFQ), Tradeweb AllTrade, sessions-based trading and portfolio trading. U.S. High Grade activity was buoyed by a pick-up in sessions-based trading and voice trade processing, while heightened volatility weighed on overall market activity in U.S. High Yield and European credit. Tradeweb captured fully electronic share of U.S. High Grade and U.S. High Yield TRACE of 13.2% and 5.2%,...