Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today reported average daily volume (ADV) of $885.6 billion (bn) in aggregate for the month of February 2020, a new record and an increase of 47.0 percent year over year (YoY). In addition, activity was particularly strong in the final week of the month, averaging a record $1.1 trillion per day.
Lee Olesky, Tradeweb CEO, said: "In volatile high volume periods it is vital that investors and traders can depend on robust and resilient marketplaces to exchange risk efficiently, across a range of asset classes. Our focus in any environment is ensuring that our clients have access to our systems and global markets without disruption."
Record ADV was also achieved across several products, including U.S. government bonds, mortgages, U.S. and European credit, repurchase agreements, and European exchange-traded funds (ETFs). Activity on Tradeweb trading platforms in February included:
ADV of $96.6bn in U.S. government bonds was up 16.7% YoY, and ADV of $25.8bn in European government bonds was up 15.3% YoY
$223.1bn ADV in mortgages was up 45.0% YoY
ADV of $4.5bn in U.S. credit, with fully electronic TRACE market share up 89.7% YoY for high grade trading and up 105.0% YoY for high yield trading
ADV of $1.8bn in European credit was up 31.6% YoY
$20.5bn ADV in credit derivatives was up 249.4% YoY
$228.6bn ADV in rates derivatives was up 72.1% YoY
$243.0bn ADV in repurchase agreements was up 43.2% YoY
ADV of $5.8bn in U.S. ETFs was up 128.1% YoY and ADV of $2.4bn in European ETFs was up 43.4% YoY
To access the complete report containing additional data points and commentary, go to https://www.tradeweb.com/newsroom/monthly-activity-reports/.
This release contains forward-looking statements within the meaning of the federal securities laws. Statements related to, among other things, our outlook and future performance, the industry and markets in which we operate, our expectations, beliefs, plans, strategies, objectives, prospects and assumptions and future events are forward-looking statements.
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About Tradeweb Markets
Tradeweb Markets Inc. (Nasdaq: TW) is a leading, global operator of electronic marketplaces for rates, credit, equities and money markets. Founded in 1996, Tradeweb provides access to markets, data and analytics, electronic trading, straight-through-processing and reporting for more than 40 products to clients in the institutional, wholesale and retail markets. Advanced technologies developed by Tradeweb enhance price discovery, order execution and trade workflows while allowing for greater scale and helping to reduce risks in client trading operations. Tradeweb serves approximately 2,500 clients in more than 65 countries. On average, Tradeweb facilitated more than $720 billion in notional value traded per day over the past four fiscal quarters. For more information, please go to www.tradeweb.com.
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