Tradeweb Reports Trading Volume for May 2022
June 03 2022 - 07:30AM
Business Wire
Total Volume of $25.0 Trillion and Average
Daily Volume of $1.19 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 May 2022. Total trading
volume for May 2022 was $25.0 trillion (tn). Average daily volume
(ADV) for the month was $1.19tn, an increase of 21.4 percent (%)
year-over-year (YoY).
In May, Tradeweb set new ADV records in fully electronic U.S.
High Grade credit, Repurchase Agreements and municipal bond
trading.
RATES
- U.S. government bond ADV was up 29.4% YoY to $136.0 billion
(bn),1 and European government bond ADV was up 16.4% YoY to
$36.0bn.
- 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 down 19.4% YoY to $150.3bn.
- Declining issuance and rising yields continued to weigh on
overall market activity.
- Swaps/swaptions ≥ 1-year ADV was up 42.3% YoY to $214.9bn, and
total rates derivatives ADV was up 59.0% YoY to $377.3bn.
- 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. Ongoing market focus on evolving central
bank policy continued to buoy overall market activity.
CREDIT
- Fully electronic U.S. Credit ADV was up 32.8% YoY to $4.1bn and
European credit ADV was down 0.9% YoY (up 9.1% YoY in EUR terms) to
$1.7bn.
- U.S. and European credit volumes reflected continued client
adoption across all Tradeweb protocols, including RFQ, Tradeweb
AllTrade and portfolio trading. Record ADV in U.S. High Grade was
buoyed by record RFQ trading. Reported European volumes were
impacted by a strong U.S. dollar. In May, Tradeweb captured fully
electronic share of U.S. High Grade and U.S. High Yield TRACE of
13.7% and 5.8%, respectively.
- Credit derivatives ADV was up 99.4% YoY to $16.9bn.
- Market-wide volatility continued to boost volumes overall.
EQUITIES
- U.S. ETF ADV was up 33.5% YoY to $7.6bn and European ETF ADV
was up 20.6% YoY to $2.7bn.
- Growth in global institutional client trading, up 55.0% YoY,
was driven by record activity in the U.S. and further adoption of
RFQ as market volatility remained elevated.
MONEY MARKETS
- Repurchase Agreement ADV was up 13.8% YoY to $420.3bn.
- 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/20220603005069/en/
Media contact Daniel Noonan, Tradeweb +1 646 767 4677
Daniel.Noonan@Tradeweb.com Investor contact Ashley Serrao,
Tradeweb +1 646 430 6027 Ashley.Serrao@Tradeweb.com
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