Tradeweb reports November increase in repo trading activity
07 December 2021 US
Image: Lemonsoup14/stock.adobe.com
Tradeweb, a global operator of electronic marketplaces for rates, credit, equities, and money markets has reported an increase in repo trading activity for November 2021.
Repo average daily volume (ADV) was US$367 billion, an 11.1 per cent increase for the month of November compared to November 2020.
The addition of new clients on the platform continued to support growth in global repo activity and retail money markets activity remained pressured by the low interest rate environment.
Additionally, the US exchange-traded fund (ETF) ADV climbed 15.9 per cent YoY to US$5.5 billion. The European ETF ADV was down 8.3 per cent YoY to US$2.5 billion.
The continued growth in activity by institutional clients contributed to higher volumes in the US, whereas the lower overall market activity weighed on European ETF volumes.
Tradeweb has reported the total trading volume for November 2021 was US$24.2 trillion across electronic marketplaces for rates, credit, equities and money markets.
In US credit trading, high grade TRACE market share was a record 23.9 per cent, of which 14.3 per cent was transacted fully electronically. The US high yield TRACE market share was 10.6 per cent, with 7 per cent fully electronic.
Lee Olesky, Tradeweb CEO, says: “November was Tradeweb’s second-busiest month ever, extending our run of more than 12 consecutive months reporting year-over-year ADV growth. What is so encouraging about this momentum is the fact that much of our growth is coming from tools and protocols that did not exist five years ago.
“With innovations like portfolio trading for credit, direct streams for US Treasuries, and RFM trading for swaps, we are building the future of electronic markets in collaboration with our clients."
Repo average daily volume (ADV) was US$367 billion, an 11.1 per cent increase for the month of November compared to November 2020.
The addition of new clients on the platform continued to support growth in global repo activity and retail money markets activity remained pressured by the low interest rate environment.
Additionally, the US exchange-traded fund (ETF) ADV climbed 15.9 per cent YoY to US$5.5 billion. The European ETF ADV was down 8.3 per cent YoY to US$2.5 billion.
The continued growth in activity by institutional clients contributed to higher volumes in the US, whereas the lower overall market activity weighed on European ETF volumes.
Tradeweb has reported the total trading volume for November 2021 was US$24.2 trillion across electronic marketplaces for rates, credit, equities and money markets.
In US credit trading, high grade TRACE market share was a record 23.9 per cent, of which 14.3 per cent was transacted fully electronically. The US high yield TRACE market share was 10.6 per cent, with 7 per cent fully electronic.
Lee Olesky, Tradeweb CEO, says: “November was Tradeweb’s second-busiest month ever, extending our run of more than 12 consecutive months reporting year-over-year ADV growth. What is so encouraging about this momentum is the fact that much of our growth is coming from tools and protocols that did not exist five years ago.
“With innovations like portfolio trading for credit, direct streams for US Treasuries, and RFM trading for swaps, we are building the future of electronic markets in collaboration with our clients."
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