In its money markets segment, Tradeweb reported that repo daily volumes (ADV) was up 41.2% year-over-year (yoy) to $527.2 billion, slightly down from September’s $529.6 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 $37.2 trillion, ADV was a record $1.75tn, an increase of 66.3% yoy.