April 8, 2020

Tradeweb Reports Record Volumes in March

Tradeweb has released its monthly volumes for March, which show significant trading activity across asset classes.

  • March 3 saw a new daily record volume, with more than $1.5trn traded.
  • Average daily volume (ADV) hit a new high of $1.0 trillion, an increase of 41.5 % YoY.
  • During Quarter 1 of 2020, ADV was $897.8 billion, up 39.0 % YoY.


Lee Olesky, Tradeweb CEO, said, "It is especially critical during times of uncertainty that markets operate reliably and efficiently. We remain focused on the safety of our people and ensuring that Tradeweb clients trade with confidence wherever they are in the world. In March we saw clients adapt to market volatility and remote working by adjusting how they traded; taking advantage of our multi-asset class and multi-protocol electronic offerings to find the best approach. More than 18,000 institutional and dealer users worldwide relied on our platform over the month, which is about the same as six months ago when the environment was very different."


Rates –

  • U.S. government bond ADV was up 14.7% YoY to $96.4bn, and European government bond ADV was up 27.3% YoY to $31.6bn, a new record.
  • Mortgage ADV was up 20.0% YoY to $215.1bn.
  • Rates derivatives ADV was up 70.5% YoY to $319.2bn, another record.


Credit –

  • U.S. credit ADV was up 40.6% YoY to $4.3bn, and European credit ADV was up 12.3% YoY to $1.5bn.
  • Credit derivatives ADV was up 148.4% YoY to $47.1bn, another record.
  • Municipal bond ADV was up 44.8% YoY to $394 million.


Equities –

  • U.S. ETF ADV was up 242.0% YoY to $10.0bn and European ETF ADV was up 190.6% YoY to $4.0bn, both records.


Money Markets –

  • Repurchase agreement ADV was up 32.5% YoY to $235.4bn.


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