Tradeweb reported that in its money markets segment, repurchase agreement ADV was up 15.1% year-on-year (yoy) to $397.3 billion. It’s down from June’s $419.9 billion.
Increased client adoption of Tradeweb’s electronic trading solutions drove Global Repo activity, even as elevated usage of the Federal Reserve’s reverse repo facility continued to weigh on the overall repo market. Retail money markets activity continued to strengthen as the rate environment improved.