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Year to date, trading is on pace for a record year, with average total daily trading volumes up 37.3% versus 2017. Total trading volume on Tradeweb through November 2018 is $125.6 trillion.
Growth throughout 2018 has been driven by an organic increase in overall market activity and new product enhancements developed by Tradeweb, across numerous asset classes.
Year-to-Date Average Daily Volumes: 2018 vs. 2017
- Interest Rate Derivatives: +105.2%
- Credit Derivatives: +74.3%
- U.S. Investment Grade Credit: +74.7%
- U.S. ETFs: +70.4%
- European ETFs: +56.9%
- European Government Bonds: +37.4%
- European Credit: +35.4%
- U.S. Treasury Bonds: +31.3%
Key trends in November 2018 (vs. November 17) include:
- Treasury Bond Trading Surges As Yield Curve Approaches Inversion: The U.S. Treasury curve closed the month of November at 3.2 basis points before inverting on the first trading day of December. Average daily volume in U.S. Government bonds during November was $80.6 billion, the second highest monthly total ever on Tradeweb, up 1.6% over the previous month, and up 35.4% year-over-year.
- European ETF Volumes Stay Strong Amid Brexit Volatility: European ETF volumes grew 56.0% on a year-over-year basis.
- Derivatives Volume Rises Sharply: Average daily volumes in rates derivatives was $128.5 billion, up 14.0% on a monthly basis and 56.5% on a year-over-year basis.
- Repo Resurrected: The market for repurchase agreements has thrived on Tradeweb. In November, average repo volumes were in excess of $170 billion per day, up 33.5% on a year-over-year basis.
- Steady Growth of China’s Bond Market: Average daily volume in Chinese bonds, executed via Tradeweb on the Bond Connect platform was up 10.5% on a monthly basis and 35.3% on a year-over-year basis.
The full Tradeweb Monthly Activity Report for October 2018 is available here.
