Tradeweb reported that in its money markets segment, repurchase Agreement average daily volume (ADV) was up 20.4% year-on-year (yoy) to $416.9 billion in January, also up from December’s $379 billion.
Continued client adoption of Tradeweb’s electronic trading solutions drove Global Repo activity, despite significant volatility in money markets and sustained elevated usage of the Federal Reserve’s reverse repo facility. Retail money markets activity reflected our second-best month (record was November 2022) as interest rates remained elevated.
Total trading volume across rates, credit, equities and money markets for January was at $23.2 trillion. ADV for the month was $1.15 trillion, an increase of 2.8% yoy.