Tradeweb Sees 9.87% Jump in ADV for the Full-Year 2022

The online fixed income trading platform Tradeweb Markets has released its market figures for the full-year, the fourth quarter and December 2022, posting great growth performance in Average Daily Volume (ADV) across markets.

Key Figures for December 2022:

ADV for the month was $1.02tn, an increase of 11.6% year-over-year (YoY), and the average daily trades for the month totaled 110,996.

Rates

• U. S. government bond ADV was up 0.3% YoY to $114.1 billion (bn). 

• European government bond ADV was up 25.5% to $27.5 bn.

• Mortgage ADV was down 13.0% YoY to $130.6 bn.

• Swaps/swaptions ≥ 1-year ADV was up 13.0% YoY to $186.8 bn and total rates derivatives ADV was up 19.1% to $316.7 bn.

Credit

• Fully electronic U.S. Credit ADV was up 29.7% YoY to $3.6 bn.

• ​European credit ADV was up 17.7% to $1.3 bn.

• Municipal bonds ADV was up 141.5% YoY to $437 million (mm).

• Credit derivatives ADV was down 6.7% YoY to $7.9 bn.

Equities

• U.S. ETF ADV was down 3.8% YoY to $7.6 bn.

• ​European ETF ADV was down 6.6% to $2.4 bn.

Money Markets

• Repurchase Agreement ADV was up 20.7% YoY to $379.0bn.

Key Figures for Q4 2022

For the fourth quarter of 2022, total trading volume was $65.8tn and ADV was $1.07tn, a decrease of 4.1% YoY.

Rates

• U.S. government bond ADV was down 6.54% YoY to $126.2 bn.

• European government bond ADV was up 7.44% YoY to $33.3 bn.

• Mortgage ADV was down 12.34% YoY to $153.8 bn.

• Swaps/swaptions ≥ 1-year ADV was slightly up 0.63% YoY to $201.8 bn.

• The total rates derivatives ADV was down 18.90% to $311.0 bn.

Credit

• Fully electronic U.S. Credit ADV was up 20.53% YoY to $4.2 bn.

• European credit ADV was slightly down 0.38% YoY to $1.6 bn.

• Municipal bonds ADV was up 149.86% YoY to $458 mm.

• Credit derivatives ADV was up 15.75% YoY to $11.4 bn.

Equities

• U.S ETF ADV was up 19.21% YoY to $7.3 bn.

• European ETF ADV was down 6.63% to $2.3 bn.

Money Markets

• Repurchase Agreement ADV was up 27.39% YoY to $383.1 bn.

• The total money markets ADV was up 14.28% YoY to $400.9 bn.

Key Figures for the Full-Year 2022

• For the full year of 2022, the ADV was $1.1 trillion, up 9.87%.

• The rates market ADV jumped 7.30% to $684.7 bn in FY2022.

• The credit market ADV was up 15.16% to $21.6 bn.

• The equities market ADV was up 13.41% to $17.8 bn.

• The money market ADV was up 13.19% to $399.203 bn.