Nasdaq-listed Tradeweb reported a total trading volume of $19.3 trillion in April, which is almost 22 percent down from the figures posted for the previous month, but there was a solid increase year-over-year.
The company posted its record numbers for March 2021 with $24.7 trillion in trading volume and $1.07 trillion in average daily volume (ADV). For April, the ADV on the Tradeweb platform stood at $896.8 billion, which is 17.5 percent higher year-over-year despite the monthly dip.
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Tradeweb operates electronic over-the-counter marketplaces for trading fixed income products, exchange-traded funds, and derivatives. It has recorded a yearly uptick in demand across all fixed income markets.
Demand Surged YoY Across All Markets
The press release shared with Finance Magnates detailed that the US government bond ADV went up by 7.4 percent year-over-year to $95.5 billion, while the European government bond ADV jumped by 3.8 percent. Mortgage ADV, however, went down 1.2 percent to $171.8 billion.
On the credits market, the demand for both US and European credits surged as the ADV for both upped 21 percent and 30.7 percent, respectively. In absolute terms, the US credit ADV came in at $6 billion, and European credits ADV at $1.9 billion. Credits derivatives ADV, on the other hand, dropped by 23 percent.
A healthy surge in demand can also be seen in the equities and money markets. As Tradeweb reported, the US and European exchange-traded fund (ETF) ADV skyrocketed by 34.7 percent and 25.8 percent, respectively, when compared with the numbers of the same month of the previous year. Meanwhile, the repurchase agreement ADV jumped by 46.6 percent year-over-year to $326.4 billion.
“Tradeweb continued to grow its US credit market share in April, with our fully electronic share for US High-Grade TRACE reaching 11.7% up from 3.0% just three years ago,” Tradeweb CEO, Lee Olesky said.
“Credit markets are seeing more trading volume executed electronically, and Tradeweb has increased its share of that growing volume thanks to innovative tools and protocols such as electronic portfolio trading, net spotting, and automated trading via AiEX to name a few.”
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