Tradeweb’s repo ADV up 50.4% YoY at $304.5bn in December 2020

Tradeweb reported that repurchase agreement ADV was up 50.4% YoY at $304.5bn, while retail money markets activity remained pressured by the low interest rate environment. On a month-to-month basis, repo ADV was down 7.8% from $330.4 billion in November.

Lee Olesky, Tradeweb CEO, said in a statement: “A strong December capped off a record quarter for Tradeweb, with all of our asset classes contributing. While our volumes in 2020 were impacted by a variety of factors including remote work, massive debt issuance and periods of market volatility, our fourth quarter success was clearly driven by broader adoption of electronic trading tools and protocols. We believe this trend towards more electronic trading will continue into 2021.”

For the fourth quarter of 2020, Tradeweb reported record ADV across all asset classes of $897.9 billion, up 30.9% YoY. Tradeweb captured quarterly record TRACE market share in US High Grade and US High Yield bonds, with fully electronic representing the majority of each. Quarterly ADV records were also set in US High Yield, Chinese bonds and Repurchase agreements. Tradeweb also reported record ADV of $838.0 billion, up 15.3% YoY, for the year ending December 31, 2020, with total annual volumes of $211.2 trillion.

Read the full report

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