In Tradeweb’s money markets segment, repo daily volumes (ADV) were up 33.1% year over year (yoy) to $491.9 billion, down slightly from July’s $496.3 billion.
“Further client adoption of Tradeweb’s electronic trading solutions drove global repo activity. Current US market conditions shifted demand from the Federal Reserve’s reverse repo facility to money markets. Retail money markets activity continued to be strong as interest rates remained elevated.,” the company said in a statement.
Total trading volume across rates, credit, equities and money markets for the month was $33 trillion and ADV was $1.44 trillion, an increase of 41.2% yoy. Average daily trades for the month totaled 129,561.