Average Daily Volume of
Tradeweb CEO
Tradeweb captured record TRACE share in
RATES
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U.S. government bond ADV was up 7.6% YoY to$83.9bn , and European government bond ADV was up 34.0% YoY to$27.3bn .-
Trading activity in
U.S Treasuries continued apace, with increased activity executed via firm streams by institutional and wholesale clients. Higher global government bond issuances, theU.S. election and rising volatility all contributed to robust secondary trading.
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Trading activity in
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Mortgage ADV was up 20.7% YoY to
$215.0bn .- Low mortgage rates continued to support new home sales and refinancing activity continued to drive origination, furthering trends that began this past summer.
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Rates derivatives ADV was up 3.8% YoY to
$208.4bn .- Macro uncertainty helped drive higher volumes. As the market shifted to alternative risk-free rates (RFRs) from Libor based rates, this drove a new record in trading of those swaps. In particular, we saw a noted rise in SOFR trading this month, with tenors out to 10 years.
CREDIT
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U.S. credit ADV was up 47.8% YoY to$5.2bn and European credit ADV was up 16.5% YoY to$1.6bn .-
Electronic Portfolio trading and anonymous sessions-based trading were particularly strong in both
U.S. and European credit, with record volumes in portfolio trading in both regions.U.S. Credit set new records in TRACE High Grade market share to 19.2% (9.4% fully electronic) and TRACE High Yield market share to 5.9% (3.6% fully electronic). Additionally, new RFQ functionality with trader-controlled AiEX auto execution saw swift adoption.
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Electronic Portfolio trading and anonymous sessions-based trading were particularly strong in both
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Credit derivatives ADV was up 19.0% YoY to
$11.8bn .- More pronounced macro risk, along with continued rolling activity, contributed to increased trading volumes.
EQUITIES
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U.S. ETF ADV was up 104.3% YoY to$4.7bn and European ETF ADV was up 25.2% YoY to$1.8bn .-
Sharp fluctuations in equity markets and continued new client adoption contributed to growth across our
U.S. ETF business.
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Sharp fluctuations in equity markets and continued new client adoption contributed to growth across our
MONEY MARKETS
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Repurchase Agreement ADV was up 78.4% YoY to
$328.5bn , while retail money markets activity remained pressured by the low interest rate environment.-
Global Repo activity set a new record, exceeding an ADV of
$300bn , driven in part by the addition of new dealers and participants on our global institutional Repo platform.
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Global Repo activity set a new record, exceeding an ADV of
To access the complete report containing additional data points and commentary, go to https://www.tradeweb.com/newsroom/monthly-activity-reports/.
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
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.
About
View source version on businesswire.com: https://www.businesswire.com/news/home/20201104005145/en/
Investor
Ashley.Serrao@Tradeweb.com
Media
Daniel.Noonan@Tradeweb.com
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