Press release
Tradeweb Reports Volume of $20.6 Trillion in July
July Average Daily Volume was $972.2 billion, an increase of 34.2% YoY NEW YORK--(BUSINESS WIRE)-- Tradeweb Markets Inc. (Nasdaq: TW), a leading, global
About this update from Tradeweb Markets Inc.
[{"type":"text","content":"\nJuly Average Daily Volume was $972.2 billion, an increase of 34.2% 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 July 2021 of $20.6 trillion (tn). Average daily volume (ADV) for the month was $972.2 billion (bn), an increase of 34.2 percent (%) year over year (YoY).\n\nLee Olesky, Tradeweb CEO, said: “Tradeweb’s diversified growth continued in July, with strong year-over-year volume gains in government bonds, swaps, credit and repos. Our credit volumes were higher in the U.S. and Europe, and in U.S. High Yield we captured record market share as more clients were active in anonymous and portfolio trading.”\n\nIn U.S. Credit, Tradeweb captured a record 9.9% share of High Yield TRACE, of which 6.4% was fully electronic. Activity was driven by record share in portfolio trading and Tradeweb AllTrade, with strong growth in both sessions-based and RFQ trading.\n\nRATES\n\n\nU.S. government bond ADV was up 38.7% YoY to $116.1bn1, and European government bond ADV was up 25.0% YoY to $29.5bn.\n\n\nClient use of innovative protocols continued apace, as client adoption of streaming liquidity and sessions-based trading increased. Additionally, July was the first full month of reporting to include Tradeweb’s newly acquired CLOB. Steady global government bond issuance, along with recent rising market volatility, remained supportive of trading generally.\n\n\n\n\nMortgage ADV was down 0.4% YoY to $190.0bn.\n\n\nA notable decline in issuance and discussions of the eventual tapering of Fed open market purchases weighed on overall market activity. Client activity in specified pools on the institutional platform continued to show strong growth.\n\n\n\n\nSwaps/swaptions ≥ 1-year ADV was up 72.4% YoY to $151.3bn, and total rates derivatives ADV was up 68.1% YoY to $240.5bn.\n\n\nSwaps/swaptions ≥ 1-year volumes were driven by continued engagement from international clients; faster growth in the request-for-market (RFM) protocol; and further growth in emerging markets trading.\n\n\n\n\nCREDIT\n\n\nU.S. Credit ADV was up 20.1% YoY to $5.1bn and European credit ADV was up 63.5% YoY to $1.9bn.\n\n\nIn July, client use of Tradeweb AllTrade protocols reached new highs in TRACE share with s...