Tradeweb Reports January ADV of $1.15T, up 2.8% YoY

Tradeweb Markets Inc., a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today reported total trading volume for January 2023 of $23.2 trillion. Average daily volume (ADV) for the month was $1.15tn, an increase of 2.8% YoY.

January 2023 Highlights

Rates   

• U.S. government bond ADV was down 7.2% YoY to $136.1 billion (bn). European government bond ADV was up 14.3% to $42.3bn.

• Mortgage ADV was down 16.4% YoY to $177.1bn.

• Swaps/swaptions ≥ 1-year ADV was up 17.3% YoY to $192.4bn and total rates derivatives ADV was up 2.2% to $313.9bn.

Credit   

• Fully electronic U.S. Credit ADV was up 27.0% YoY to $4.9bn and European credit ADV was up 3.1% to $2.2bn.

• Municipal bonds ADV was up 40.8% YoY to $318 million.

• Credit derivatives ADV was down 26.6% YoY to $9.6bn. 

Equities   

• U.S. ETF ADV was down 26.0% YoY to $7.1bn and European ETF ADV was down 22.7% to $2.9bn.

Money Markets

• ​Repurchase Agreement ADV was up 20.4% YoY to $416.9bn.

Earlier this month, Tradeweb has released its market figures for the full-year, the fourth quarter and December 2022​, posting great growth performance in ADV across markets.