Press release
Tradeweb Reports Trading Volume for November 2021
Total Volume of $24.2 Trillion and Average Daily Volume of $1.18 Trillion NEW YORK--(BUSINESS WIRE)-- Tradeweb Markets Inc. (Nasdaq: TW), a leading, global
About this update from Tradeweb Markets Inc.
[{"type":"text","content":"\nTotal Volume of $24.2 Trillion and Average Daily Volume of $1.18 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 trading volume for November 2021. Total trading volume for November 2021 was $24.2 trillion (tn), and average daily volume (ADV) for the month was $1.18tn, an increase of 22.6 percent (%) year-over-year (YoY).\n\nLee Olesky, Tradeweb CEO, said: “November was Tradeweb’s second-busiest month ever, extending our run of more than 12 consecutive months reporting year-over-year ADV growth. What is so encouraging about this momentum is the fact that much of our growth is coming from tools and protocols that did not exist five years ago. With innovations like portfolio trading for credit, direct streams for U.S. Treasuries, and RFM trading for swaps, we are building the future of electronic markets in collaboration with our clients.\"\n\nIn November, Tradeweb facilitated record activity in swaps/swaptions ≥ 1-year. Additionally, Tradeweb set new records in TRACE market share for U.S. High Grade, capturing 23.9% with a record 14.3% transacted fully electronically.\n\nRATES\n\n\nU.S. government bond ADV was up 44.3% YoY to $144.5 billion (bn)1, and European government bond ADV was up 28.5% YoY to $34.6bn.\n\n\nGrowth in U.S. government bonds was driven by strong activity across institutional and wholesale markets, continued momentum in streaming protocols and the addition of the Nasdaq Fixed Income business. Activity in European government bond trading was boosted by record volumes in Euro-zone bonds. Steady global government bond issuance, along with rising rates market volatility, remained supportive of trading overall.\n\n\n\n\nMortgage ADV was down 21.1% YoY to $178.6bn.\n\n\nDeclining issuance and tight mortgage spreads weighed on overall market activity.\n\n\n\n\nSwaps/swaptions ≥ 1-year ADV was up 44.9% YoY to $233.3bn, and total rates derivatives ADV was up 76.7% YoY to $396.7bn.\n\n\nRecord swaps/swaptions ≥ 1-year volumes were driven by robust client interest in the request-for-market (RFM) protocol, continued engagement from international clients and increased adoption of risk-free rate (RFR) swaps, as well as further growth in emerging markets. Increased market focus on ...