Tradeweb reported repurchase agreement ADV (average daily volume) was up 11.1% year over year (yoy) to $367.0 billion in its money markets segment in November. On a month-by-month basis, ADV is up from $328.5 billion in October. The addition of new clients on the platform continued to support growth in global repo activity. Retail money markets activity remained pressured by the low interest rate environment.
Total trading volume for November 2021 was $24.2 trillion, down from a record high of $25.6 trillion in October. Average daily volume (ADV) for November was $1.18 trillion, an increase of 22.6 % year-over-year (YoY), also down from a record October of $1.26 trillion.
Lee Olesky, Tradeweb CEO, said in a statement: “November was Tradeweb’s second-busiest month ever, extending our run of more than 12 consecutive months reporting year-over-year ADV growth. What is so encouraging about this momentum is the fact that much of our growth is coming from tools and protocols that did not exist five years ago. With innovations like portfolio trading for credit, direct streams for US Treasuries, and RFM [request for market] trading for swaps, we are building the future of electronic markets in collaboration with our clients.”