Tradeweb reported that in its money markets segment, repo daily volumes were up 16.7% year-on-year (yoy) to $369.6 billion and down from July’s $397.3 billion.
Increased client adoption of Tradeweb’s electronic trading solutions drove 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 continued to strengthen as the rates environment improved.