Tradeweb Sees 18% YoY Rise in ADV, Total Trading Volume Reaches $26.1trn in June

The online fixed income trading platform Tradeweb Markets has posted its trading volumes for June 2022, witnessing growth in average daily volumes(ADV) on a yearly basis.

Specifically, total trading volume for June 2022 reached $26.1 trillion (tn). Average daily volume (ADV) for the month was $1.24tn, an increase of 18.0 percent (%) year-over-year (YoY). For the second quarter of 2022, total trading volume was $72.6tn and ADV was a record $1.18tn, an increase of 20.4% YoY, with preliminary average variable fees per million dollars of volume traded of $2.78.

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According to the press release, swaps/swaptions ≥ 1-year ADV set a new record in June. For Q2 2022, Tradeweb saw record ADV in swaps/swaptions ≥ 1-year, fully electronic U.S. High Grade credit, municipal bonds and Repurchase Agreements.

June Highlights

Rates

U.S. government bond ADV was up 3.9% YoY to $124.1 billion (bn), and European government bond ADV was up 14.8% YoY to $36.9bn.

Mortgage ADV was down 0.1% YoY to $174.7bn.

Swaps/swaptions ≥ 1-year ADV was up 22.1% YoY to $251.0bn, and total rates derivatives ADV was up 35.3% YoY to $417.0bn.

Credit

Fully electronic U.S. Credit ADV was down 0.3% YoY to $3.7bn and European credit ADV was down 22.3% YoY (down 10.7% YoY in EUR terms) to $1.6bn.

In June, Tradeweb captured fully electronic share of U.S. High Grade and U.S. High Yield TRACE of 12.4% and 5.8%, respectively.  

Credit derivatives ADV was up 120.3% YoY to $16.5bn.

Equities 

U.S. ETF ADV was up 36.1% YoY to $7.5bn and European ETF ADV was up 14.5% YoY to $2.8bn.

Growth in global institutional client activity, up 57.0% YoY, was driven by further adoption of RFQ and sustained market volatility.

Money Markets 

Repurchase Agreement ADV was up 14.6% YoY to $419.9bn.

In May, Tradeweb reported 25 trillion total trading volume and 1.19 trillion ADV.​