Tradeweb Reports Continued Growth in Average Daily Volume for April 2024

Tradeweb Markets Inc. (Tradeweb), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, released its trading metrics for April 2024, reporting a total trading volume of $41.90 trillion, increasing 15.7% compared to $36.23 trillion in the previous month and jumping 87.9% compared to $22.30 trillion in the year-ago month.

Average daily volume (ADV) for the period came in $1.94 trillion, an increase of 7.0% on a month-on-month basis (MoM) (March 2024: $1.81 trillion) and an increase of 69.1% on a year-on-year basis (YoY) (April 2023: $1.15 trillion).

Financial Overview for April 2024

Rates Market

• The U.S government bond ADV reached $205.28 billion for the month, 7.0% higher than $191.85 billion in the prior month and 70.7% higher than $120.23 billion in the same period of last year.

• The European government bond ADV dropped 8.2% MoM from $49.66 billion to $45.59 billion, but rising 23.9% compared to $36.80 billion in the year-ago period.

• Mortgages ADV rose 1.1% from $203.87 billion in March 2024 to $206.14 billion in April 2024, up 34.8% compared to $152.96 billion in last year's April.

• Swaps/Swaptions ≥ 1-year ADV reached $475.67 billion for the period, up 16.3% MoM (March 2024: $408.97 billion) and jumping 118.9% YoY (April 2023: $217.32 billion).

• Total derivatives ADV amounted to $796.00 billion for the month, 17.9% higher than $674.96 billion in the prior month and 127.8% higher than $349.40 billion in the year-ago period.

Credit Market

• Fully electronic U.S. credit ADV was up 7.2% MoM from $7.50 billion to $8.04 billion for April this year, soaring 96.1% compared to $4.10 billion in the same month of 2023.

• European credit ADV reported $2.32 billion for the month, a decrease of 15.9% compared to $2.76 billion in this March and an increase of 19.4% compared to $1.95 billion in last April.

• Municipal bonds ADV was $347 million, up 6.8% MoM (March 2024: $325 million) and up 20.8% YoY (April 2023: $287 million).

• Credit derivatives ADV was $15.28 billion, dropping 57.0% compared to $35.52 billion in the prior month and rising 65.0% compared to $9.26 billion in the year-ago month.

Equities Market

• The U.S. ETF ADV down 25.7% MoM from $10.47 billion to $7.78 billion, an increase of 24.8% compared to $6.23 billion in the same month of last year.

• European ETF ADV was $2.82 billion, down 6.5% MoM compared to $3.01 billion in March 2024 and up 19.4% compared to $2.36 billion in April 2023.

Money Market

• In April 2024, ADV of repurchase agreement amounted to $598.22 billion, increasing 3.8% MoM (March 2024: $576.27 billion) and jumping 39.4% YoY (April 2024: $428.99 billion).