In Tradeweb’s money markets segment, repo daily volumes (ADV) were up 18.2% year over year (yoy) to $496.1 billion in July, also up from May’s $470.2 billion.
“Further client adoption of Tradeweb’s electronic trading solutions drove record global repo activity, despite continued volatility in money markets and sustained elevated usage of the Federal Reserve’s reverse repo facility. Retail money markets activity continued to be strong as interest rates remained elevated,” the company said in a statement.
Total trading volume across rates, credit, equities and money markets for the month was $29.3 trillion (compared to $26.1 trillion in June 2022) and ADV of $1.38 trillion, an increase of 10.8% yoy. For the second quarter of 2023, total trading volume was $81.0 trillion and ADV was $1.3 trillion, an increase of 10.2% yoy.