Tradeweb repo activity booms 06 October 2020Los Angeles Reporter: Drew Nicol
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Global repo activity through Tradeweb’s electronic trading platform set a new record in September, exceeding an average daily volume (ADV) of $250 billion.
The fixed income and derivatives market platform provider says repo activity was buoyed by the addition of new dealers and participants in bilateral repo remained strong.
Repo ADV was up 19.8 percent year-over-year (YoY) last month, hitting $255.8 billion.
Elsewhere, Tradeweb’s equities business performance was mixed in September. Exchange-traded fund (ETF) ADV was up 55.5 percent YoY to $5.3 billion, while European ETF ADV was down 12.4 percent
According to Tradeweb, equity market volatility and continued new client adoption contributed to growth across our US ETF business.
Total September trading volume for Tradeweb Markets was $18.5 trillion, with an average daily volume of $870.5 billion, a decrease of 0.5 percent YoY.
“Tradeweb says its strong performance in September was broad-based, spanning multiple asset classes and fuelled in part by increased adoption across trading protocols,” says Tradeweb CEO Lee Olesky.
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