Tradeweb reported that in its money markets segment, repurchase agreement average daily volume (ADV) was up 11.9% year-on-year (yoy) to $470.2 billion. This is also up from April’s $429 billion.
Continued client adoption of Tradeweb’s electronic trading solutions drove record global Repo activity, despite significant volatility in money markets and sustained elevated usage of the Federal Reserve’s reverse repo facility. Retail money markets activity remained strong as interest rates remained elevated.
Total trading volume across rates, credit, equities and money markets for May was $29.4 trillion and ADV for the month was $1.35 trillion, an increase of 14.1% yoy.