Tradeweb reports 29% increase YoY in repo ADV for March
04 April 2024 Europe, US
Image: Sergey Nivens
Repo average daily volume (ADV) traded on the Tradeweb platform climbed 29 per cent year-on-year to US$576.3 billion for March.
For rates trades, US government bond ADV was up 27.2 per cent YoY to US$191.8 billion, with European government bond ADV rising 17.1 per cent YoY to US$49.7 billion.
Tradeweb reports that European government bond volumes continued to be strong in March, while primary market issuance remained robust across Europe and the UK.
The institutional business saw strong volumes driven by increased adoption across a wide range of protocols and the acquisition of algorithmic trading technology provider r8fin.
For swaps and swaptions, ADV has grown 15.2 per cent YoY to US$409.0 billion and total rates derivatives ADV increased by 10.8 per cent YoY to US$675.0 billion.
In credit markets, fully electronic US credit ADV has risen 69.1 per cent YoY to US$7.5 billion. European credit ADV also increased 52.7 per cent YoY to US$2.8 billion.
Tradeweb indicates that the combination of quantitative tightening, heightened collateral supply and current rates market activity shifted more balances from the Federal Reserve’s reverse repo facility to money markets.
For rates trades, US government bond ADV was up 27.2 per cent YoY to US$191.8 billion, with European government bond ADV rising 17.1 per cent YoY to US$49.7 billion.
Tradeweb reports that European government bond volumes continued to be strong in March, while primary market issuance remained robust across Europe and the UK.
The institutional business saw strong volumes driven by increased adoption across a wide range of protocols and the acquisition of algorithmic trading technology provider r8fin.
For swaps and swaptions, ADV has grown 15.2 per cent YoY to US$409.0 billion and total rates derivatives ADV increased by 10.8 per cent YoY to US$675.0 billion.
In credit markets, fully electronic US credit ADV has risen 69.1 per cent YoY to US$7.5 billion. European credit ADV also increased 52.7 per cent YoY to US$2.8 billion.
Tradeweb indicates that the combination of quantitative tightening, heightened collateral supply and current rates market activity shifted more balances from the Federal Reserve’s reverse repo facility to money markets.
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