Tradeweb: New Record Highs For ADV In June 2019

Average daily volume (ADV) across rates, credit, equities and money markets for Tradeweb Markets set a new record of $859.2 billion (bn) in June 2019, representing an increase of 45.8 percent (%) year over year (YoY). Average daily trades for the month totaled 53,998.

During the month, Tradeweb established several new records for rates and credit trading. Government bond trading set new records for ADV on both sides of the Atlantic as U.S. volumes rose 37.9% YoY to $87.6 bn per day and European volumes increased 23.8% YoY to $25.6 bn per day. Mortgage trading set a new record for ADV as volumes rose 38.8% YoY to $188.0 bn per day. Rates derivatives trading set a new record for ADV as volumes increased 69.4% YoY to $298.9 bn per day. ADV of U.S. high-grade credit rose 77.8% YoY to $2.9 bn per day; Tradeweb’s fully electronic volume accounted for record highs of 5.5% of investment grade TRACE volume and 2.3% of high yield TRACE volume. China bond trading set a new record with ADV of $1.1 bn. ADV of repurchase agreements increased 43.4% YoY to $213.1 bn per day as new dealers trading on the platform helped to continue to drive growth. ADV of European ETFs rose 22.1% YoY to $1.6 bn per day while U.S. ETFs increased 6.8% to $2.9 bn per day.

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