Tradeweb Reports Total Trading Volume of $33Tn for August 2023, Up 41.0% YoY

Tradeweb Markets Inc. (Tradeweb), a leading, global operator of electronic marketplaces for rates, credit, equities, and money markets, reported a total trading volume for August 2023 of $33.0 trillion (tn), increasing 41.0% on a yearly basis and increasing 28.9% on a monthly basis. Average daily volume (ADV) for the month of $1.44tn, an increase of 41.2% YoY and an increase of 13.4% MoM.

Trading Overview for August 2023:

Rates

• U.S. government bond ADV was $142.7 billion (bn), up 14.9% YoY and up 2.0% MoM.

• European government bond ADV was $32.9bn, up 19.6% YoY and down 10.8% MoM.

• Mortgage ADV was $174.4bn, up 11.0% YoY and up 4.2% MoM.

• Swaps/swaptions ≥ 1-year ADV was $381.8bn, up 125.4% YoY and up 50.8% MoM, hitting a monthly record.

• Total rates derivatives ADV was $535.9bn, up 89.0% YoY and up 48.2% MoM.

Credit

• Fully electronic U.S. credit ADV was $4.8bn, up 38.9% YoY and flat MoM.

• European credit ADV was $1.6bn, up 48.5% and down 15.8%.

• Tradeweb captured a record 17.3% share of fully electronic U.S. High Grade TRACE, and a record 8.5% share of fully electronic U.S. High Yield TRACE.

• Municipal bonds ADV remained relatively flat YoY to $345 million (mm), up 15.8% MoM.

• Credit derivatives ADV was $7.9bn, down 30.5% YoY and up 5.3% MoM.

Equities

• U.S. ETF ADV was $6.8bn, up 28.0% YoY and down 16.0% MoM.

• European ETF ADV was $1.9bn, down 11.9% YoY and down 9.5% MoM.

Money Markets

• Repurchase agreement ADV was $491.9bn, up 33.1% YoY and down 0.9% MoM.