Tradeweb reports repo boom in November
04 December 2020 US
Image: robin_ph/adobe.stock.com
Tradeweb Markets, global operator of electronic marketplaces for rates, credit, equities and money markets, reported a major spike in repo average daily volumes (ADV) in November.
Repo ADV was up 68.5 percent year-over-year for November, hitting $330 billion.
In its monthly activity report, Tradeweb observes that the continued global repo activity growth last month was driven in part by the addition of new dealers and participants on its global institutional repo platform.
Elsewhere, retail money markets activity remained pressured by the low interest rate environment, Tradeweb adds.
The platform also chalked up record-breaking moves in US equity markets due to new client adoption, which contributed to growth across its global exchange-traded fund (ETF) business.
US ETF ADV was up 87.6 percent YoY to $4.8 billion, while European ETF ADV was up 66.1 percent YoY to $2.7 billion.
Across all its business lines, Tradeweb reported total trading volume of $18.7 trillion for November. ADV for the month was $958.7 billion, up 37.2 percent YoY and Tradeweb’s second-highest month ever.
Tradeweb CEO Lee Olesky comments: “In November, Tradeweb experienced strong double-digit growth in ADV across rates, credit, money markets and ETFs. This furthered the broad-based growth we reported last month and continued to reflect both higher underlying volumes and increased adoption of our platforms and solutions.”
Repo ADV was up 68.5 percent year-over-year for November, hitting $330 billion.
In its monthly activity report, Tradeweb observes that the continued global repo activity growth last month was driven in part by the addition of new dealers and participants on its global institutional repo platform.
Elsewhere, retail money markets activity remained pressured by the low interest rate environment, Tradeweb adds.
The platform also chalked up record-breaking moves in US equity markets due to new client adoption, which contributed to growth across its global exchange-traded fund (ETF) business.
US ETF ADV was up 87.6 percent YoY to $4.8 billion, while European ETF ADV was up 66.1 percent YoY to $2.7 billion.
Across all its business lines, Tradeweb reported total trading volume of $18.7 trillion for November. ADV for the month was $958.7 billion, up 37.2 percent YoY and Tradeweb’s second-highest month ever.
Tradeweb CEO Lee Olesky comments: “In November, Tradeweb experienced strong double-digit growth in ADV across rates, credit, money markets and ETFs. This furthered the broad-based growth we reported last month and continued to reflect both higher underlying volumes and increased adoption of our platforms and solutions.”
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