Tradeweb’s repo ADV up 17.7% YoY to $248.5bn in July

Average daily volume for Tradeweb Markets in July was $724.7 billion, a decrease of 3.5% year-over-year. Steady growth across products, including new records were set in global repo and Chinese bond trading, offset by softer swaps trading as a result of a lower market-wide rates volatility.

In the money markets segment, repo daily volumes rose 17.7% YoY to $248.5 billion. Global Repo activity, buoyed by the addition of new dealers and participants in bilateral repo, set a new record.

Lee Olesky, Tradeweb CEO, said in a statement: “Our volumes in July reflected both the state of the markets in which we operate and our ability to meet the evolving needs of our clients. Trading volumes driven by strong issuance in US treasuries, mortgages and credit helped to offset the negative impact that lower volatility had on swaps volumes. Tradeweb continued to deepen client engagement through enhancements to our trading protocols such as request-for-market in swaps and all-to-all in credit. We believe this increased adoption of electronic trading is here to stay even as trading floors eventually re-open around the world.”

Read the full report

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