Tradeweb reported that global repo activity set a new record, exceeding an average daily volume of $250 billion, buoyed by the addition of new dealers and participants in bilateral repo remained strong. It’s also up from August’s $246 billion ADV.
Total September trading volume for Tradeweb Markets was $18.5 trillion, with an average daily volume of $870.5 billion, a decrease of 0.5% year-over-year. Strong growth in Credit, Equities and Money Markets continued in September with monthly trading volumes up more than 15% YoY in all three asset classes.
For the third quarter, Tradeweb captured quarterly record TRACE market share in US High-Grade and US High-Yield bonds, while quarterly trading volume records were set in repos and China Bonds.
“Tradeweb’s strong performance in September was broad-based, spanning multiple asset classes and fueled in part by increased adoption across trading protocols,” said Tradeweb CEO Lee Olesky, in a statement. “One example of that horizontal expansion was credit, where we saw greater interest and adoption in electronic portfolio trading, anonymous A2A trading and automated execution.”