Press release
Tradeweb Reports Volume of $19.6 Trillion in May
May Average Daily Volume was $980.4 billion, an increase of 23.9% YoY NEW YORK--(BUSINESS WIRE)-- Tradeweb Markets Inc. (Nasdaq: TW), a leading, global
About this update from Tradeweb Markets Inc.
[{"type":"text","content":"\nMay Average Daily Volume was $980.4 billion, an increase of 23.9% 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 May 2021 of $19.6 trillion (tn). Average daily volume (ADV) for the month was $980.4 billion (bn), an increase of 23.9 percent (%) year over year (YoY).\n\nLee Olesky, Tradeweb CEO, said: \"The secular trend towards more electronic trading and digital workflows continued at an accelerated pace in May. While volatility in many markets was lower compared to May 2020, each of our asset classes showed signs of greater adoption as Tradeweb’s average daily volume for the month was up 24% year over year. This broad momentum demonstrates just how vital electronic trading has become to client workflows.\"\n\nSwaps volumes were driven by record institutional SEF market share1 and continued engagement from international clients, across protocols and in both developed and emerging markets. In U.S. Credit, Tradeweb’s share of fully electronic High Grade TRACE was 11.2% in May, the second highest month for Tradeweb, of which a record share was driven by client activity in AllTrade. In addition, Tradeweb facilitated a record $369.3bn in Repurchase Agreements.\n\nRATES\n\n\nU.S. government bond ADV was up 14.4% YoY to $105.0bn, and European government bond ADV was up 20.0% YoY to $30.9bn.\n\n\nClient activity in streams and session-based trading increased for U.S. Treasuries as more firms adopted these protocols. Steady global government bond issuance remained supportive of trading generally despite waning market volatility.\n\n\n\n\nMortgage ADV was up 4.2% YoY to $186.5bn.\n\n\nClient activity in specified pools on the institutional platform continued to grow; May was the second strongest month behind March 2020. Fed purchase commitments remained supportive of the market.\n\n\n\n\nSwaps/swaptions ≥ 1-year ADV was up 16.7% YoY to $151.0bn, and total rates derivatives ADV was up 6.1% YoY to $237.3bn.\n\n\nSwaps volumes were driven by record institutional SEF market share, and client activity in swaps/swaptions ≥ 1-year increased. Longer term trends persisted—continued growth in engagement from international clients, faster growth in the request-for-market (RFM) protoc...