Tradeweb reports strong December repo trading volumes
07 January 2021 US
Image: suriyapong/adobe.stock.com
Tradeweb Markets, a global operator of electronic marketplaces, has reported strong growth in its money market trading volumes for December 2020.
Repo average daily (ADV) volume was $304.5 billion representing a 50.4 per cent uptick for the final month of last year, compared to the same period in 2019.
Tradeweb notes that retail money markets activity remained pressured by the low-interest-rate environment.
Overall, global repo activity continued to grow, driven in part by the addition of new dealers and participants on Tradeweb’s global institutional repo platform, according to its end of year report.
For the fourth quarter of 2020, Tradeweb reported record ADV of $897.9 billion across all business lines, including equities, credit and rates, up 30.9 per cent year-on-year.
Tradeweb captured quarterly record TRACE market share in US high grade and US high yield bond, with fully electronic trading representing the majority of each.
Quarterly ADV records were also set in US high yield, Chinese bonds and repos.
Tradeweb CEO Lee Olesky says: “A strong December capped off a record quarter for Tradeweb, with all of our asset classes contributing.
"While our volumes in 2020 were impacted by a variety of factors including remote work, massive debt issuance and periods of market volatility, our fourth quarter success was clearly driven by broader adoption of electronic trading tools and protocols. We believe this trend towards more electronic trading will continue into 2021.”
Repo average daily (ADV) volume was $304.5 billion representing a 50.4 per cent uptick for the final month of last year, compared to the same period in 2019.
Tradeweb notes that retail money markets activity remained pressured by the low-interest-rate environment.
Overall, global repo activity continued to grow, driven in part by the addition of new dealers and participants on Tradeweb’s global institutional repo platform, according to its end of year report.
For the fourth quarter of 2020, Tradeweb reported record ADV of $897.9 billion across all business lines, including equities, credit and rates, up 30.9 per cent year-on-year.
Tradeweb captured quarterly record TRACE market share in US high grade and US high yield bond, with fully electronic trading representing the majority of each.
Quarterly ADV records were also set in US high yield, Chinese bonds and repos.
Tradeweb CEO Lee Olesky says: “A strong December capped off a record quarter for Tradeweb, with all of our asset classes contributing.
"While our volumes in 2020 were impacted by a variety of factors including remote work, massive debt issuance and periods of market volatility, our fourth quarter success was clearly driven by broader adoption of electronic trading tools and protocols. We believe this trend towards more electronic trading will continue into 2021.”
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