TW - Tradeweb Markets ADV increases 16.3% Y/Y in July
2023-08-03 10:15:39 ET
- Tradeweb Markets ( NASDAQ: TW ) on Thursday reported total trading volume of $25.6T for July, with average daily volume rising 16.3% Y/Y to $1.27T.
- U.S. government bond ADV rose 19.1% Y/Y to $139.9B and European government bond ADV was up 17.2% at $36.9B. Higher interest rates continued to drive trading in the retail market.
- Mortgage ADV dipped 1.1% Y/Y to $167.4B amid subdued trading activity despite a spike in rates market volatility at the start of July.
- Fully electronic U.S. credit ADV grew 34.8% Y/Y to $4.8B and European credit ADV was up 38.6% at $1.9B. Strong U.S. credit volumes reflect continued client adoption.
- Municipal bonds ADV was down 10.5% Y/Y at $298M, given relative yield dynamics and limited new issuance.
- Credit derivatives ADV decreased 38.9% Y/Y to $7.5B, on account of significant tightening of credit spreads.
- U.S. ETF ADV rose 33.9% Y/Y to $8.1B, driven by strong institutional and wholesale activity.
- Recent SA analysis - Tradeweb: Performing Well, With Higher Growth And Better Margins
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Tradeweb Markets ADV increases 16.3% Y/Y in July