Press release
Tradeweb Reports Volume of $19.3 Trillion in April
April Average Daily Volume was $896.8bn, an increase of 17.5% YoY NEW YORK--(BUSINESS WIRE)-- Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator
About this update from Tradeweb Markets Inc.
[{"type":"text","content":"\nApril Average Daily Volume was $896.8bn, an increase of 17.5% 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 April 2021 of $19.3 trillion (tn). Average daily volume (ADV) for the month was $896.8 billion (bn)1, an increase of 17.5 percent (%) year over year (YoY).\n\nLee Olesky, Tradeweb CEO, said: “Tradeweb continued to grow its U.S. credit market share in April, with our fully electronic share for U.S. High Grade TRACE reaching 11.7% up from 3.0% just three years ago. Credit markets are seeing more trading volume executed electronically, and Tradeweb has increased its share of that growing volume thanks to innovative tools and protocols such as electronic portfolio trading, net spotting and automated trading via AiEX to name a few.”\n\nIn U.S. Credit, Tradeweb captured 21.7% of U.S. High Grade TRACE share and 8.9% of U.S. High Yield TRACE share, with fully electronic activity of 11.7% and 4.8%, respectively—all records for the platform. In addition, U.S. High Yield ADV was a record.\n\nThere is a marked change in client behavior from prior to the pandemic as participants integrate newer execution protocols and advanced trading technologies that allow for more efficient price discovery and enhanced automation into their trading workflows. For example, U.S. Treasury volumes saw year-over-year growth, despite Primary Dealer and TRACE data showing overall market volumes easing. Furthermore, Institutional swaps SEF market share grew over 500bp vs April 2020 according to ClarusFT data.\n\nRATES\n\n\nU.S. government bond ADV was up 7.4% YoY to $95.5bn, and European government bond ADV was up 3.8% YoY to $28.4bn.\n\n\nTradeweb facilitated strong client activity in streams and session-based trading in U.S. Treasuries. Steady global government bond issuance remained supportive of trading generally despite waning market volatility.\n\n\n\n\nMortgage ADV was down 1.2% YoY to $171.8bn.\n\n\nA more measured pace of rates tempered activity, though Fed purchase commitments remained supportive of the market.\n\n\n\n\nSwaps/swaptions ≥ 1-year ADV was down 4.2% YoY to $138.5bn, and total rates derivatives ADV was up 10.7% YoY to $221.1bn.\n\n\nActivity in swaps/swaptions ≥ 1-year...