Tradeweb reports June rise in repo trading activity
07 July 2021 US
Image: Oleg_Yakovlev/adobe.stock.com
Tradeweb Markets, global operator of electronic marketplaces for rates, credit, equities and money markets, reported a strong increase in repo average daily volumes (ADV) in June.
Repo ADV climbed 53.6 per cent YoY in June to US$366.4 billion.
This advance in global repo trading activity was driven particularly by the addition of new trading participants onto its platform.
However, activity in retail money markets was constrained by the low interest rate environment, according to the trading platform.
New client adoption pushed up trading activity in US equities, with ADV for US ETFs rising 13.9% YoY to $5.5 billion and European ETF ADV rising 18.4 per cent to US$2.4 billion on Tradeweb.
Total trading volume through Tradeweb continued to grow, climbing to $23.1 trillion for June. ADV across all trading products increased 34.7 per cent YoY to $1.05 trillion.
In US credit trading, Tradeweb’s share of fully electronic high grade and high yield TRACE activity, the FINRA-operated bond market reporting engine, rose to a new record of 13.1 per cent and 5.4 per cent respectively for the month of June.
Tradeweb chief executive Lee Olesky, says: “We see client usage of new and legacy Tradeweb protocols and services continuing to evolve. Our diverse approach was on full display in June, as new records were set in key products across credit, rates and equities.”
“We also saw continued momentum in US credit, capturing record market share and effectively occupying a larger slice of what’s been a growing pie,” says Olesky.
Repo ADV climbed 53.6 per cent YoY in June to US$366.4 billion.
This advance in global repo trading activity was driven particularly by the addition of new trading participants onto its platform.
However, activity in retail money markets was constrained by the low interest rate environment, according to the trading platform.
New client adoption pushed up trading activity in US equities, with ADV for US ETFs rising 13.9% YoY to $5.5 billion and European ETF ADV rising 18.4 per cent to US$2.4 billion on Tradeweb.
Total trading volume through Tradeweb continued to grow, climbing to $23.1 trillion for June. ADV across all trading products increased 34.7 per cent YoY to $1.05 trillion.
In US credit trading, Tradeweb’s share of fully electronic high grade and high yield TRACE activity, the FINRA-operated bond market reporting engine, rose to a new record of 13.1 per cent and 5.4 per cent respectively for the month of June.
Tradeweb chief executive Lee Olesky, says: “We see client usage of new and legacy Tradeweb protocols and services continuing to evolve. Our diverse approach was on full display in June, as new records were set in key products across credit, rates and equities.”
“We also saw continued momentum in US credit, capturing record market share and effectively occupying a larger slice of what’s been a growing pie,” says Olesky.
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