Tradeweb Sees 4.4% Rise in Volume in June as Q2 Ends with $72.6trn

Total trading volume on Tradeweb Markets, a NASDAQ-listed operator of electronic marketplaces for rates, credit, equities and money markets, rose by 4.4% in June.

The volumes rose from $25 trillion recorded in May to $26.1 trillion in June.

Tradeweb disclosed these figures on Wednesday in a press statement containing its trading data for June and its second quarter of 2022.

The average daily volume (ADV) in June stood at $1.24 trillion, an 18% jump when compared to the marketplace's outpost in the same period last year.

Furthermore, Tradeweb recorded a total trading volume of $72.6 trillion in its second quarter this year.

ADV for the quarter hit $1.18 trillion, a 20.4% year-on-year (YoY) jump in the average.

In March, Tradeweb reported that its global trading volume hit an all-time high of $73.1 trillion.

ADV in that month also hit a record $1.17 trillion.

Mixed Markets Performance

In the rates market, US government bond’s ADV rose to $124.1 billion, a 3.9% YoY jump in volume.

Similarly, the European government bond landed at $36.9 billion, a 14.8% YoY spike in volume.

Tradeweb said institution and wholesale actors in this sub-market remained active “despite declining overall market volumes.”

In the credit markets, however, the mortgage ADV slide 0.1% to $174.7 billion as a result of the decreasing issuance of the loan facility and growing yields.

Like the mortgage market, the ADV of fully electronic US Credit dropped to $3.7 billion. This was a 0.3% YoY dip in performance.

By a much larger measure, European credit ADV sank to $1.6 billion, a 22.3% YoY drop. However, if calculated in Euro, this dip is a 10.7% fall.

On the contrary, credit derivatives ADV in the credit market surged 120.3% YoY to $16.5 billion.

Tradeweb explained that market-wide volatility continued to the boost volumes overall in its electronic marketplaces.

Furthermore, the equities and money markets climbed significantly in June. Tradeweb's US exchange-traded fund (ETF) ADV climbed to $7.5 billion, a 36.1% YoY jump.

European ETF ADV also spiked, but at a comparatively lower rate. The EFT ADV landed at $2.8 billion, jumping 14.5% YoY last month.

In the money markets, the repurchase agreement (repo) ADV increased to $419.9 billion.

This represents a 14.6% increase in the repo market ADV last month when compared to the same period last year.

Meanwhile, in late June Tradeweb launched the Spotlight Dealer Diversity Programme.

The firm said the programme was established to support its diverse dealers group through individual dealer profiles and direct consultation, among other promotional measures.

The programme was inaugurated at the 2022 Fixed Income Leaders Summit held in Tennessee, the United States.