August Average Daily Volume was
In August, Tradeweb continued to facilitate higher credit trading volumes in both
RATES
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U.S. government bond ADV was up 41.1% YoY to$123.3bn 1, and European government bond ADV was up 1.1% YoY to$22.4bn .-
Record activity in
U.S. government bonds was driven by: continued client use of innovative protocols, including streaming and sessions-based trading; strong month-end activity; and the addition of the Nasdaq Fixed Income business. Steady global government bond issuance, along with recent rising market volatility, remained supportive of trading generally.
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Record activity in
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Mortgage ADV was down 14.8% YoY to
$170.9bn .- Declining issuance and record home price appreciation weighed on overall market activity.
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Swaps/swaptions ≥ 1-year ADV was up 3.4% YoY to
$126.4bn , and total rates derivatives ADV was up 44.0% YoY to$224.3bn .- Swaps/swaptions ≥ 1-year volumes were driven by continued growth in the request-for-market (RFM) protocol and engagement from international clients, along with further adoption in emerging markets.
CREDIT
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U.S. Credit ADV was up 16.4% YoY to$4.7bn and European credit ADV was up 19.0% YoY to$1.2bn .-
Client use of Tradeweb AllTrade continued to reach new highs in TRACE share across
U.S. High Grade andU.S. High Yield. Additionally, RFQ and portfolio trading continued to see strong growth in bothU.S. and European credit.U.S. High Grade TRACE market share was 21.6%, of which a record 13.9% was traded fully electronically.U.S. High Yield TRACE market share was 9.3% (6.2% fully electronic).
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Client use of Tradeweb AllTrade continued to reach new highs in TRACE share across
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Credit derivatives ADV was up 14.9% YoY to
$5.8bn .- Continued bouts of volatility provided a boost to overall market activity.
EQUITIES
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U.S. ETF ADV was up 24.7% YoY to$3.6bn and European ETF ADV was up 16.6% YoY to$1.6bn .-
The addition of liquidity providers, along with client growth and adoption, particularly among institutional clients, continued to drive volumes in
U.S. and European markets.
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The addition of liquidity providers, along with client growth and adoption, particularly among institutional clients, continued to drive volumes in
MONEY MARKETS
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Repurchase Agreement ADV was up 28.8% YoY to
$316.6bn .- The continued addition of new clients on the platform supported strong growth in Global Repo activity. Retail money markets activity remained pressured by the low interest rate environment.
For the complete report go to https://www.tradeweb.com/newsroom/monthly-activity-reports/.
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Forward-Looking Statements
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View source version on businesswire.com: https://www.businesswire.com/news/home/20210903005059/en/
Media contact
Daniel.Noonan@Tradeweb.com
Investor contact
Ashley.Serrao@Tradeweb.com
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