Press release
Tradeweb Reports Trading Volume of $22.0 Trillion in July with 12.0% 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 July 2022 of $22.0 trillion (tn). Average daily volume (ADV) for the month was $1.09tn, an increase of 12.0 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, a strong dollar and rising economic concerns.\n\nRATES\n\n\nU.S. government bond ADV was up 1.0% YoY to $117.4 billion (bn), and European government bond ADV was up 6.5% YoY (up 21.4% YoY in EUR terms) to $31.4bn.\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 continued to remain resilient amidst heightened rates market volatility.\n\n\n\n\nMortgage ADV was down 10.7% YoY to $169.2bn.\n\n\nDeclining issuance and higher yields continued to weigh on overall market activity.\n\n\n\n\nSwaps/swaptions ≥ 1-year ADV was up 22.2% YoY to $184.9bn, and total rates derivatives ADV was up 30.5% YoY to $313.8bn.\n\n\nSwaps/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. 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 16.2% YoY to $3.6bn and European credit ADV was down 29.3% YoY (down 19.4% YoY in EUR terms) to $1.4bn.\n\n\nU.S. and European credit volumes reflected continued client adoption across all Tradeweb protocols, including request-for-quote (RFQ), Tradeweb AllTrade and portfolio trading. U.S. High Grade activity was buoyed by a pick-up in portfolio trading, 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 13.7% and 5.5%, respectively.\n\n\n\n\nMunicipal bonds ADV was up 93.3% YoY to $333 million (mm).\n...