Tradeweb reported repurchase Agreement ADV (average daily volume) was up 8.1% year over year (yoy) to $361.5 billion in March, also up from February’s $352.6 billion.
The addition of new clients on the platform continued to support growth in global repo activity, even as elevated usage of the Federal Reserve’s reverse repo facility weighed on the overall repo market. Retail money markets activity remained measured in the low interest rate environment, despite its recent pickup.
Total trading volume was a record $28.2 trillion for March across Tradeweb’s electronic marketplaces for rates, credit, equities and money markets. Average daily volume (ADV) for the month was $1.23 trillion, an increase of 14% yoy.