Tradeweb reports 13.8% rise YoY in repo ADV for May
07 June 2022 US
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The repo average daily volume (ADV) traded on global operator of electronic marketplaces Tradeweb, has increased 13.8 per cent to US$420.3 billion for May 2022 year-over-year (YoY).
Growth in client adoption of Tradweb’s electronic trading solutions was expected to have driven record global repo activity for the firm, even as elevated usage of the US Federal Reserve’s reverse repo facility continued to weigh on the overall repo market.
US government bond ADV was up 29.4 per cent YoY to US$136.0 billion, while European government bond ADV rose 16.4 per cent YoY to US$36.0 billion.
Tradeweb says increased trading in US government bonds was supported by strong client activity in institutional and wholesale markets, along with the addition of the Nasdaq fixed income business.
The average daily trading volume for swaps and swaptions jumped 42.3 per cent YoY to US$214.9 billion for May, with ADV total rates derivatives increasing 59.0 per cent YoY to US$377.3 billion.
In ETF trading, US ADV increased 33.5 per cent for May YoY to US$7.6 billion and European ETF ADV was up 20.6 per cent YoY to US$2.7 billion.
The credit markets also saw an increase as fully electronic US credit ADV rose 32.8 per cent YoY to US$4.1 billion. In contrast, European credit ADV was down 0.9 per cent YoY (up 9.1 per cent YoY in EUR terms) to US$1.7 billion.
In May, Tradeweb captured fully electronic share of US high grade and US high yield TRACE of 13.7 per cent and 5.8 per cent, respectively.
Growth in client adoption of Tradweb’s electronic trading solutions was expected to have driven record global repo activity for the firm, even as elevated usage of the US Federal Reserve’s reverse repo facility continued to weigh on the overall repo market.
US government bond ADV was up 29.4 per cent YoY to US$136.0 billion, while European government bond ADV rose 16.4 per cent YoY to US$36.0 billion.
Tradeweb says increased trading in US government bonds was supported by strong client activity in institutional and wholesale markets, along with the addition of the Nasdaq fixed income business.
The average daily trading volume for swaps and swaptions jumped 42.3 per cent YoY to US$214.9 billion for May, with ADV total rates derivatives increasing 59.0 per cent YoY to US$377.3 billion.
In ETF trading, US ADV increased 33.5 per cent for May YoY to US$7.6 billion and European ETF ADV was up 20.6 per cent YoY to US$2.7 billion.
The credit markets also saw an increase as fully electronic US credit ADV rose 32.8 per cent YoY to US$4.1 billion. In contrast, European credit ADV was down 0.9 per cent YoY (up 9.1 per cent YoY in EUR terms) to US$1.7 billion.
In May, Tradeweb captured fully electronic share of US high grade and US high yield TRACE of 13.7 per cent and 5.8 per cent, respectively.
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