Tradeweb Unveils Record ADV in January 2024, Up 74.6% YoY

The online fixed income trading platform Tradeweb Markets released its trading metrics for January 2024, registering a total trading volume for the period of $42.6 trillion (tn). Average daily volume (ADV) for the month was a record $2.00tn, an increase of 74.6 percent (%) year-over-year (YoY).

Trading Overview for January 2024

Rates

• U. S. government bond ADV was up 33.7% YoY to $182.1 billion (bn).

• European government bond ADV was up 18.5% YoY to $50.1bn.

• Mortgage ADV was up 23.9% YoY to $219.5bn.

• Swaps/swaptions ≥ 1-year ADV was up 207.2% YoY to $590.8bn

• Total rates derivatives ADV was up 194.2% YoY to $922.7bn.

Credit

• Fully electronic U.S. credit ADV was up 45.0% YoY to $7.1bn.

• European credit ADV was up 16.0% YoY to $2.5bn.

• Municipal bonds ADV was up 1.5% YoY to $322 million (mm).

• Credit derivatives ADV was up 0.9% YoY to $9.7bn.

Equities

• U.S. ETF ADV was up 41.8% YoY to $10.1bn

• European ETF ADV was down 12.3% YoY to $2.6bn.

Money Markets

• Repurchase agreement ADV was up 31.1% YoY to $546.2bn.