Repo ADV on Tradeweb up 18.2% YoY for June 07 July 2023US Reporter: Jamie Richards
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Repo average daily volume traded on the Tradeweb platform increased 18.2 per cent year-on-year to US$496.1 billion.
This also represents a month-on-month increase of 5.5 per cent from the US$470.2 billion repo ADV recorded in May.
This growth has been driven by further client adoption of Tradeweb’s electronic trading solutions, in spite of continued volatility in money markets and sustained elevated usage of the Federal Reserve’s reverse repo facility.
Elevated interest rates have continued to foster strong retail money market activity, Tradeweb reports.
The New-york based electronic marketplaces provider for rates, credit and money markets indicates that ADV for all asset classes for June has increased by 10.8 per cent YoY to US$1.38 trillion.
US Government bond ADV has risen 12.6 per cent YoY to US$139.7 billion. In kind, European government bond ADV has increased 16.7 per cent YoY to US$43.0 billion.
Tradeweb reports that higher interest have continued to drive trading in the retail market. Both US and European bond volumes have been supported by sustained volatility in the rates market.
For swaps and swaptions, average daily volume has grown 11.7 per cent YoY to US$280.4 billion. Total rates derivatives ADV has increased by 10.9 per cent YoY to US$462.4 billion.
In credit markets, fully electronic US credit ADV has risen 35.3 per cent YoY to US$5.0 billion and European credit ADV has increased 22.9 per cent YoY to US$2.0 billion.
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