Press release
Tradeweb Reports Volume of $19.8 Trillion in August
August Average Daily Volume was $900.4 billion, an increase of 20.6% YoY NEW YORK--(BUSINESS WIRE)-- Tradeweb Markets Inc. (Nasdaq: TW), a leading, global
About this update from Tradeweb Markets Inc.
[{"type":"text","content":"\nAugust Average Daily Volume was $900.4 billion, an increase of 20.6% 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 August 2021 of $19.8 trillion (tn). Average daily volume (ADV) for the month was $900.4 billion (bn), an increase of 20.6 percent (%) year over year (YoY).\n\nLee Olesky, Tradeweb CEO, said: “While markets were relatively quiet in August, Tradeweb continued its trend of year-over-year growth in monthly ADV with a diverse portfolio of products. One area of strategic focus for Tradeweb has been credit, and we were pleased to see steady growth in our market share over the course of the summer.\"\n\nIn August, Tradeweb continued to facilitate higher credit trading volumes in both U.S. High Grade and U.S. High Yield, driven by record activity in Tradeweb AllTrade, even as broader TRACE volumes in each declined. Tradeweb also captured higher TRACE market share in both U.S. High Grade and U.S. High Yield, including a record 13.9% share of U.S. High Grade for fully electronic trading. U.S. government bond ADV was also a record.\n\nRATES\n\n\nU.S. government bond ADV was up 41.1% YoY to $123.3bn1, and European government bond ADV was up 1.1% YoY to $22.4bn.\n\n\nRecord activity in U.S. government bonds was driven by: continued client use of innovative protocols, including streaming and sessions-based trading; strong month-end activity; and the addition of the Nasdaq Fixed Income business. Steady global government bond issuance, along with recent rising market volatility, remained supportive of trading generally.\n\n\n\n\nMortgage ADV was down 14.8% YoY to $170.9bn.\n\n\nDeclining issuance and record home price appreciation weighed on overall market activity.\n\n\n\n\nSwaps/swaptions ≥ 1-year ADV was up 3.4% YoY to $126.4bn, and total rates derivatives ADV was up 44.0% YoY to $224.3bn.\n\n\nSwaps/swaptions ≥ 1-year volumes were driven by continued growth in the request-for-market (RFM) protocol and engagement from international clients, along with further adoption in emerging markets.\n\n\n\n\nCREDIT\n\n\nU.S. Credit ADV was up 16.4% YoY to $4.7bn and European credit ADV was up 19.0% YoY to $1.2bn.\n\n\nClient use of Tradeweb AllTrade continued to reach new h...