Tradeweb’s repo ADV up 13.8% yoy to $420.3bn in May

In Tradeweb’s money markets segment, repo daily volumes were up 13.8% year over year (yoy) to $420.3 billion in May, also up from April’s $375.3 billion. In May, Tradeweb set new ADV records in fully electronic US High Grade credit, Repurchase Agreements and municipal bond trading.

Increased client adoption of Tradeweb’s electronic trading solutions drove record 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 remained measured in the low interest rate environment, despite its recent pickup.

Total trading volume for the month was $25.0 trillion and average daily volume for the month was $1.19 trillion, an increase of 21.4% year-over-year. Average daily trades for the month totaled 100,901.

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