Repo ADV up 38.9% YoY for September, says Tradeweb
05 October 2023 US
Image: chaylek/stock.adobe.com
Repo average daily volume traded on the Tradeweb platform increased 38.9 per cent year-over-year to US$529.6 billion for September 2023.
Further client adoption of Tradeweb’s electronic trading solutions drove record global repo activity for September. This was also impacted by a shift in US market conditions from the Federal Reserve’s reverse repo facility to money markets.
The global operator of electronic marketplaces for rates, credit, equities and money markets reports that the ADV across all asset classes for the month of September reached a record US$1.57 trillion, an increase of 30.8 per cent YoY.
For the third quarter of 2023, ADV across all asset classes was US$1.42 trillion, an increase of 29.6 per cent YoY.
US government bond ADV was up 12.4 per cent YoY to US$145.3 billion. European government bond ADV was also on the rise by 1.9 per cent to US$42.4 billion.
According to Tradeweb, US and European government bond volumes were supported by sustained rates market volatility.
For swaps and swaptions, ADV climbed 30.0 per cent YoY for September to US$335.3 billion. Total rates derivatives ADV also increased, rising 45.3 per cent YoY to US$570.9 billion.
In credit markets, fully electronic US credit ADV was up 14.3 per cent YoY to US$4.9 billion while European credit ADV was up 22.6 per cent YoY to US$2.1 billion.
US credit volumes reflected continued client adoption across Tradeweb protocols, the US-based firm says, including request-for-quote (RFQ), portfolio trading and Tradeweb AllTrade.
Further client adoption of Tradeweb’s electronic trading solutions drove record global repo activity for September. This was also impacted by a shift in US market conditions from the Federal Reserve’s reverse repo facility to money markets.
The global operator of electronic marketplaces for rates, credit, equities and money markets reports that the ADV across all asset classes for the month of September reached a record US$1.57 trillion, an increase of 30.8 per cent YoY.
For the third quarter of 2023, ADV across all asset classes was US$1.42 trillion, an increase of 29.6 per cent YoY.
US government bond ADV was up 12.4 per cent YoY to US$145.3 billion. European government bond ADV was also on the rise by 1.9 per cent to US$42.4 billion.
According to Tradeweb, US and European government bond volumes were supported by sustained rates market volatility.
For swaps and swaptions, ADV climbed 30.0 per cent YoY for September to US$335.3 billion. Total rates derivatives ADV also increased, rising 45.3 per cent YoY to US$570.9 billion.
In credit markets, fully electronic US credit ADV was up 14.3 per cent YoY to US$4.9 billion while European credit ADV was up 22.6 per cent YoY to US$2.1 billion.
US credit volumes reflected continued client adoption across Tradeweb protocols, the US-based firm says, including request-for-quote (RFQ), portfolio trading and Tradeweb AllTrade.
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