Tradeweb Reports Volume of $20.6 Trillion in July
August 04 2021 - 07:30AM
Business Wire
July Average Daily Volume was $972.2
billion, an increase of 34.2% YoY
Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator
of electronic marketplaces for rates, credit, equities and money
markets, today reported total trading volume for July 2021 of $20.6
trillion (tn). Average daily volume (ADV) for the month was $972.2
billion (bn), an increase of 34.2 percent (%) year over year
(YoY).
Lee Olesky, Tradeweb CEO, said: “Tradeweb’s diversified growth
continued in July, with strong year-over-year volume gains in
government bonds, swaps, credit and repos. Our credit volumes were
higher in the U.S. and Europe, and in U.S. High Yield we captured
record market share as more clients were active in anonymous and
portfolio trading.”
In U.S. Credit, Tradeweb captured a record 9.9% share of High
Yield TRACE, of which 6.4% was fully electronic. Activity was
driven by record share in portfolio trading and Tradeweb AllTrade,
with strong growth in both sessions-based and RFQ trading.
RATES
- U.S. government bond ADV was up 38.7% YoY to $116.1bn1, and
European government bond ADV was up 25.0% YoY to $29.5bn.
- Client use of innovative protocols continued apace, as client
adoption of streaming liquidity and sessions-based trading
increased. Additionally, July was the first full month of reporting
to include Tradeweb’s newly acquired CLOB. Steady global government
bond issuance, along with recent rising market volatility, remained
supportive of trading generally.
- Mortgage ADV was down 0.4% YoY to $190.0bn.
- A notable decline in issuance and discussions of the eventual
tapering of Fed open market purchases weighed on overall market
activity. Client activity in specified pools on the institutional
platform continued to show strong growth.
- Swaps/swaptions ≥ 1-year ADV was up 72.4% YoY to $151.3bn, and
total rates derivatives ADV was up 68.1% YoY to $240.5bn.
- Swaps/swaptions ≥ 1-year volumes were driven by continued
engagement from international clients; faster growth in the
request-for-market (RFM) protocol; and further growth in emerging
markets trading.
CREDIT
- U.S. Credit ADV was up 20.1% YoY to $5.1bn and European credit
ADV was up 63.5% YoY to $1.9bn.
- In July, client use of Tradeweb AllTrade protocols reached new
highs in TRACE share with strong growth in both sessions-based and
RFQ trading across U.S. High Grade and U.S. High Yield. U.S. High
Grade TRACE market share was 20.2% (12.0% fully electronic). U.S.
High Yield TRACE market share was a record of 9.9% (6.4% fully
electronic), with record volumes executed via portfolio trading. In
Europe, clients executed record volume via portfolio trading.
- Credit derivatives ADV was up 22.4% YoY to $7.5bn.
- Recent rising volatility provided a boost to overall market
activity.
EQUITIES
- U.S. ETF ADV was up 89.4% YoY to $6.2bn and European ETF ADV
was up 43.9% YoY to $2.5bn.
- Client growth and adoption, particularly among institutional
clients, continued to drive volumes in U.S. and European markets,
with record U.S. institutional ETF activity.
MONEY MARKETS
- Repurchase Agreement ADV was up 38.9% YoY to $345.1bn.
- The continued addition of new clients on the platform supported
strong growth in Global Repo activity. Retail money markets
activity remained pressured by the low interest rate
environment.
For the complete report go to
https://www.tradeweb.com/newsroom/monthly-activity-reports/.
About Tradeweb Markets
Tradeweb Markets Inc. (Nasdaq: TW) is a leading, global operator
of electronic marketplaces for rates, credit, equities and money
markets. Founded in 1996, Tradeweb provides access to markets, data
and analytics, electronic trading, straight-through-processing and
reporting for more than 40 products to clients in the
institutional, wholesale and retail markets. Advanced technologies
developed by Tradeweb enhance price discovery, order execution and
trade workflows while allowing for greater scale and helping to
reduce risks in client trading operations. Tradeweb serves
approximately 2,500 clients in more than 65 countries. On average,
Tradeweb facilitated more than $920 billion in notional value
traded per day over the past four quarters. For more information,
please go to www.tradeweb.com.
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of the federal securities laws. Statements related to,
among other things, our outlook and future performance, the
industry and markets in which we operate, our expectations,
beliefs, plans, strategies, objectives, prospects and assumptions
and future events are forward-looking statements.
We have based these forward-looking statements on our current
expectations, assumptions, estimates and projections. While we
believe these expectations, assumptions, estimates and projections
are reasonable, such forward-looking statements are only
predictions and involve known and unknown risks and uncertainties,
many of which are beyond our control. These and other important
factors, including those discussed under the heading “Risk Factors”
in documents of Tradeweb Markets Inc. on file with or furnished to
the SEC, may cause our actual results, performance or achievements
to differ materially from those expressed or implied by these
forward-looking statements. Given these risks and uncertainties,
you are cautioned not to place undue reliance on such
forward-looking statements. The forward-looking statements
contained in this release are not guarantees of future performance
and our actual results of operations, financial condition or
liquidity, and the development of the industry and markets in which
we operate, may differ materially from the forward-looking
statements contained in this release. In addition, even if our
results of operations, financial condition or liquidity, and events
in the industry and markets in which we operate, are consistent
with the forward-looking statements contained in this release, they
may not be predictive of results or developments in future
periods.
Any forward-looking statement that we make in this release
speaks only as of the date of such statement. Except as required by
law, we do not undertake any obligation to update or revise, or to
publicly announce any update or revision to, any of the
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date of this release.
1 U.S. government bond volumes include wholesale U.S. Treasury
volumes from the Nasdaq Fixed Income business Tradeweb acquired on
June 25, 2021.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210804005552/en/
Media contact Daniel Noonan, Tradeweb +1 646 767 4677
Daniel.Noonan@Tradeweb.com Investor contact Ashley Serrao,
Tradeweb +1 646 430 6027 Ashley.Serrao@Tradeweb.com
Tradeweb Markets (NASDAQ:TW)
Historical Stock Chart
From Feb 2024 to Mar 2024
Tradeweb Markets (NASDAQ:TW)
Historical Stock Chart
From Mar 2023 to Mar 2024