Press release
Tradeweb Reports Trading Volume of $26.1 Trillion in June with 18.0% YoY Increase in Average Daily Volume
Second Quarter 2022 Record Average Daily Volume up 20.4% 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":"\nSecond Quarter 2022 Record Average Daily Volume up 20.4% 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 total trading volume for June 2022 of $26.1 trillion (tn). Average daily volume (ADV) for the month was $1.24tn, an increase of 18.0 percent (%) year-over-year (YoY). For the second quarter of 2022, total trading volume was $72.6tn and ADV was a record $1.18tn, an increase of 20.4% YoY, with preliminary average variable fees per million dollars of volume traded of $2.78.1\n\nIn June, Tradeweb reported record ADV in swaps/swaptions ≥ 1-year. For the second quarter of 2022, Tradeweb reported record ADV in swaps/swaptions ≥ 1-year, fully electronic U.S. High Grade credit, municipal bonds and Repurchase Agreements.\n\nJune Highlights\n\nRATES\n\n\nU.S. government bond ADV was up 3.9% YoY to $124.1 billion (bn),2 and European government bond ADV was up 14.8% YoY to $36.9bn.\n\n\nClient engagement in U.S. government bonds across institutional and wholesale markets remained high, despite declining overall market volumes. European government bond trading continued to remain resilient amidst heightened rates market volatility.\n\n\n\n\nMortgage ADV was down 0.1% YoY to $174.7bn.\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 22.1% YoY to $251.0bn, and total rates derivatives ADV was up 35.3% YoY to $417.0bn.\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. Tradeweb captured record share of SEF activity in swaps ≥ 1-year.3 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 down 0.3% YoY to $3.7bn and European credit ADV was down 22.3% YoY (down 10.7% YoY in EUR terms) to $1.6bn.\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. Fully electronic share of U.S. High Grade fell YoY as improving retail and str...