Mondo Visione Worldwide Financial Markets Intelligence

FTSE Mondo Visione Exchanges Index: 96,477.79 -2,113.90

Tradeweb Posts Record January Fueled By Surge In U.S. Credit And Mortgage-Backed Securities Trading

Date 06/02/2019

Trading activity set a new record in January 2019 following the previous high set in December 2018. Average daily volume (ADV) for Tradeweb Markets of $624.5 billion (bn) across rates, credit, money markets and equities during the month was up 20.7 percent (%) year over year and average daily trades totaled 51,221.

At Tradeweb, Mortgage trading averaged over $164 bn per day, up over 16% compared to January 2018; its best month in over five years. U.S. high-grade and high-yield credit set new platform records of $2.7 bn and $0.4 bn, respectively; U.S. high-grade exceed 11% of TRACE for the first time. Trading activity in repurchase agreement exceeded $170 bn per day and set a new post-crisis record. European Government Bonds and ETF volume traded continued to rise, up 14.1% and 36.4% versus January 2018, respectively. Ahead of the Lunar New Year, trading in Chinese bonds averaged over $0.9bn per day, an increase of over 56% compared to last January.

Among the markets in which Tradeweb operates:

  • Average daily volume (ADV) in U.S. Government Bonds of $82.3 billion (bn) decreased 0.6 percent (%) month over month (MoM) and rose 15.2% year over year (YoY). 
  • ADV in European Government Bonds of $21.9 bn increased 31.2% MoM and 14.1% YoY. 
  • ADV in Mortgages of $164.4 bn increased 25.1% MoM and 16.3% YoY. 
  • ADV in Rates Swaps/Swaptions of $140.8 bn declined 21.0% MoM and rose 35.7% YoY. 
  • In U.S. Credit, ADV in High-Grade of $2.7 bn increased 59.7% MoM and 59.9% YoY while ADV in High-Yield of $0.4 bn rose 86.7% MoM and 44.6% YoY.
  • ADV in European Credit of $1.3 bn increased 49.7% MoM and fell 21.4% YoY. 
  • ADV in U.S. ETFs of $3.4 bn decreased 21.6% MoM and 3.8% YoY. 
  • ADV in European ETFs of $1.5 bn increased 6.9% MoM and 36.4% YoY. 
  • ADV in Chinese Bonds of $0.9 bn increased 70.9% MoM and 56.1% YoY

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