Tradeweb Reports Trading Volume for April 2022
May 04 2022 - 7:30AM
Business Wire
Total Volume of $21.6 Trillion and Average
Daily Volume of $1.09 Trillion
Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator
of electronic marketplaces for rates, credit, equities and money
markets, today reported trading volume for April 2022. Total
trading volume for April 2022 was $21.6 trillion (tn). Average
daily volume (ADV) for the month was $1.09tn, an increase of 22.1
percent (%) year-over-year (YoY).
RATES
- U.S. government bond ADV was up 41.5% YoY to $135.9 billion
(bn),1 and European government bond ADV was up 18.2% YoY to
$33.5bn.
- Trading in U.S. government bonds was supported by strong client
activity in institutional and wholesale markets; the continued
momentum of session-based trading and streaming protocols; and the
addition of the Nasdaq Fixed Income business. Global government
bond trading remained strong amidst heightened rates market
volatility as yields continued to rise across developed
markets.
- Mortgage ADV was up 5.6% YoY to $181.4bn.
- An uptick in volatility was partially offset by declining
issuance and rising yields.
- Swaps/swaptions ≥ 1-year ADV was up 41.1% YoY to $195.4bn, and
total rates derivatives ADV was up 37.4% YoY to $303.9bn.
- Swaps/swaptions ≥ 1-year volumes were driven by robust client
interest in the request-for-market (RFM) protocol, increased
engagement from international clients and strong trading activity
in emerging markets swaps. Increased market focus on evolving
central bank policy continued to buoy overall market activity.
CREDIT
- Fully electronic U.S. Credit ADV was up 23.0% YoY to $4.0bn and
European credit ADV was down 0.2% YoY (up 8.1% YoY in EUR terms) to
$1.9bn.
- U.S. and European credit volumes reflected continued client
adoption across all Tradeweb protocols, including Tradeweb
AllTrade’s request-for-quote (RFQ) and portfolio trading. Reported
European volumes were impacted by a strong U.S. dollar. In April,
Tradeweb captured fully electronic share of U.S. High Grade and
U.S. High Yield TRACE of 12.3% and 7.3%, respectively.
Additionally, further client adoption of Tradeweb’s Multi-Client
Net Spotting tool boosted electronically processed activity.
- Credit derivatives ADV was up 64.6% YoY to $16.1bn.
- Market-wide volatility continued to boost volumes overall.
EQUITIES
- U.S. ETF ADV was down 0.3% YoY to $6.4bn and European ETF ADV
was up 14.8% YoY to $2.7bn.
- Growth in global institutional client activity, up 35.6% YoY,
was driven by further adoption of RFQ and elevated market
volatility.
MONEY MARKETS
- Repurchase Agreement ADV was up 15.1% YoY to $375.3bn.
- Increased client adoption of Tradeweb’s electronic trading
solutions drove record Global Repo activity, even as elevated usage
of the Federal Reserve’s reverse repo facility continued to weigh
on the overall repo market. Retail money markets activity remained
measured in the low interest rate environment, despite its recent
pickup.
For the complete report go to
https://www.tradeweb.com/newsroom/monthly-activity-reports/.
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 $1
trillion in notional value traded per day over the past four
quarters. For more information, please go to www.tradeweb.com.
Forward-Looking Statements 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.
We have based these forward-looking statements on our current
expectations, assumptions, estimates and projections. While we
believe these expectations, assumptions, estimates and projections
are reasonable, such forward-looking statements are only
predictions and involve known and unknown risks and uncertainties,
many of which are beyond our control. These and other important
factors, including those discussed under the heading “Risk Factors”
in documents of Tradeweb Markets Inc. on file with or furnished to
the SEC, may cause our actual results, performance or achievements
to differ materially from those expressed or implied by these
forward-looking statements. Given these risks and uncertainties,
you are cautioned not to place undue reliance on such
forward-looking statements. The forward-looking statements
contained in this release are not guarantees of future performance
and our actual results of operations, financial condition or
liquidity, and the development of the industry and markets in which
we operate, may differ materially from the forward-looking
statements contained in this release. In addition, even if our
results of operations, financial condition or liquidity, and events
in the industry and markets in which we operate, are consistent
with the forward-looking statements contained in this release, they
may not be predictive of results or developments in future
periods.
Any forward-looking statement that we make in this release
speaks only as of the date of such statement. Except as required by
law, we do not undertake any obligation to update or revise, or to
publicly announce any update or revision to, any of the
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date of this release.
1 U.S. government bond volumes include wholesale U.S. Treasury
volumes from the Nasdaq Fixed Income business Tradeweb acquired on
June 25, 2021.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220504005158/en/
Media Daniel Noonan, Tradeweb +1 646 767 4677
Daniel.Noonan@Tradeweb.com
Investor Ashley Serrao, Tradeweb +1 646 430 6027
Ashley.Serrao@Tradeweb.com
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