- Average daily volume (ADV) for the month was $1.05 trillion (tn), an increase of 34.7 percent (%) year over year (YoY). For the second quarter of 2021, ADV was $976.9 billion (bn), an increase of 25.5% YoY. Average daily trades for the month totaled 62,787.
- In U.S. Credit, Tradeweb’s share of both fully electronic High Grade and High Yield TRACE reached a record for the firm of 13.1% and 5.4%, respectively, during the month of June. Activity in U.S. High Grade and European credit was driven by record activity in portfolio trading, while U.S. High Yield volumes were boosted by record activity in Tradeweb AllTrade. In U.S. Treasuries, ADV was a record as client activity of sessions-based trading reached a monthly record and usage of streams liquidity during June reached its
- second-highest level; this record was exclusive of the recently closed purchase of the Nasdaq Fixed Income business. Emerging Markets interest rate swaps activity also reached a platform record.
- For the second quarter of 2021, Tradeweb’s share of fully electronic TRACE volume was 12.1% for U.S. High Grade, up from 5.8% in the second quarter of 2020, and 4.8% for U.S. High Yield, up from 1.5% over the same period last year. ADVs in both U.S. High Yield and Repurchase Agreements at Tradeweb were also records for the quarter.
Tradeweb just reported total trading volume for June 2021 of $23.1 trillion (tn). Average daily volume (ADV) for the month was $1.05tn, an increase of 34.7 percent (%) year over year (YoY). For the second quarter of 2021, total trading volume was $62.0tn and ADV was $976.9 billion (bn), an increase of 25.5% YoY, with preliminary average variable fees per million dollars of volume traded of $2.70.
In U.S. Credit, Tradeweb’s share of both fully electronic High Grade and High Yield TRACE reached a record for the firm of 13.1% and 5.4%, respectively, during the month of June. Activity in U.S. High Grade and European credit was driven by record activity in portfolio trading, while U.S. High Yield volumes were boosted by record activity in Tradeweb AllTrade. In U.S. Treasuries, ADV was a record as client activity of sessions-based trading reached a monthly record and usage of streams liquidity during June reached its second-highest level; this record was exclusive of the recently closed purchase of the Nasdaq Fixed Income business. Emerging Markets interest rate swaps activity also reached a platform record.
For the second quarter of 2021, Tradeweb's share of fully electronic TRACE volume was 12.1% for U.S. High Grade, up from 5.8% in the second quarter of 2020, and 4.8% for U.S. High Yield, up from 1.5% over the same period last year. ADVs in both U.S. High Yield and Repurchase Agreements at Tradeweb were also records for the quarter.
Lee Olesky, Tradeweb CEO, said: “We see client usage of new and legacy Tradeweb protocols and services continuing to evolve. Our diverse approach was on full display in June, as new records were set in key products across credit, rates and equities. We also saw continued momentum in U.S. credit, capturing record market share and effectively occupying a larger slice of what’s been a growing pie.”
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