Tradeweb’s October ADV Reaches a Record Level of $1.26 Trillion

Tradeweb Markets, an international operator of electronic marketplaces for rates, credit, equities, and money markets, today reported its trading volume for October 2021. In the last month, the operator saw record growth in average daily volume (ADV).

In October 2021, Tradeweb’s ADV reached $1.26 trillion, which is 39.4% higher compared to the same period last year. Overall trading volume for the past month topped $25.6 trillion. The operator saw substantial growth in the US Credit ADV.

The recent jump in numbers was driven by record activity across Treasuries, European Government Bonds, Rates Derivatives, and US High Yield credit. Moreover, Tradeweb posted record growth in TRACE market share for both US High Grade and US High Yield.

“October 2021 was a record-breaking month for Tradeweb, with incredibly strong results in government bonds, rates derivatives, and credit. The wide range of execution protocols we offer within those asset classes was centrally important to our clients, with robust usage of streams, request-for-market, portfolio trading, request-for-quote, and session-based trading. We believe the market participants we serve want to execute electronically, as well as digitize more of their trading workflows,” Lee Olesky, CEO of Tradeweb, said.

Growth in Rates

In the recent month, Tradeweb’s US Government Bond ADV climbed 77.5% YoY to $148.9 billion. On the other hand, European Government Bond ADV reached $36.3 billion, an increase of 32.7% compared to the same period last year. Mortgage ADV decreased slightly to $201 billion in October 2021.

“Record activity in U.S. government bonds was driven by a combination of factors including record trading across institutional and wholesale markets, boosted by streaming protocols, as well as the addition of the Nasdaq Fixed Income business. Record activity in European government bond trading continued to benefit from strong activity in UK Gilts. Steady global government bond issuance, along with recent rising rates market volatility, remained supportive of trading,” Tradeweb outlined in the press release.

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