Tradeweb Posts Total Trading Volume of $29.3Tn for June 2023

Tradeweb Markets Inc., a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, released its financial results for June 2023, reported total trading volume for the month of $29.3 trillion (tn). Average daily volume (ADV) for the month was $1.38tn, an increase of 10.8% year-over-year (YoY). 

For the second quarter of 2023, total trading volume was $81.0tn and ADV was $1.30tn, an increase of 10.2% YoY, with preliminary average variable fees per million dollars of volume traded of $2.60.

June 2023 Highlights

Rates  

• U.S. government bond ADV was up 12.6% YoY to $139.7 billion (bn). 

• ​European government bond ADV was up 16.7% YoY to $43.0bn.

• Mortgage ADV was down 2.7% YoY to $169.9bn.

• Swaps/swaptions ≥ 1-year ADV was up 11.7% YoY to $280.4bn.

• Total rates derivatives ADV was up 10.9% YoY to $462.4bn.

Credit  

• Fully electronic U.S. credit ADV was up 35.3% YoY to $5.0bn.

• European credit ADV was up 22.9% YoY to $2.0bn.

• Municipal bonds ADV was down 18.0% YoY to $314 million (mm).

• Credit derivatives ADV was down 53.5% YoY to $7.7bn.

Equities  

• U.S. ETF ADV was up 20.3% YoY to $9.1bn.

• European ETF ADV was down 14.7% YoY to $2.4bn.

Money Markets 

• Repurchase agreement ADV was up 18.2% YoY to $496.1bn.