Tradeweb’s repo ADV up up 9.4% YoY to $231.4bn in May

Tradeweb reported average daily volume (ADV) of $791.7 billion in May across its electronic marketplaces for rates, credit, equities and money markets. This is an increase of 7.2% year over year (YoY).

In the money markets segment, repurchase agreement ADV was up 9.4% YoY to $231.4 billion. Bilateral repo activity continues to grow, given the recent addition of new dealers and participants.

Lee Olesky, Tradeweb CEO, said in a statement: “The combination of robust volumes and easing volatility in May suggests a deeper behavioural change is taking place. As many market participants continue to work remotely, we are focused not only on electronic trading, but on digitizing every aspect of trade processing, so our clients can be better informed and more efficient.”

Tradeweb set another monthly record in US credit trading, with ADV in excess of $5.3 billion. On May 29th, a single-day record of $4.8 billion in investment-grade credit volume traded fully electronically on the Tradeweb platform, representing 11.8% of TRACE volume. Adoption of portfolio trading continues to grow, with more than $47 billion of portfolio trades facilitated globally in the first five months of the year, exceeding the total for 2019 of $43 billion.

Read the full report

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