Tradeweb reported that in its money markets segment, repurchase agreement average daily volume (ADV) was up 22% year on year (yoy) to $444.5 billion. This is up from February’s $411.3 billion.
Continued client adoption of Tradeweb’s electronic trading solutions drove record 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 reached a record high as interest rates remained elevated.
Total trading volume across rates, credit, equities and money markets for February was at $34.7 trillion, up from February’s $27.4 trillion. ADV for the month was a record $1.51 trillion, an increase of 23% yoy.