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Tradeweb Reports July Trading Volume of $22 Trillion with 12.0% YoY Increase in Average Daily Volume

NEW YORK–(BUSINESS WIRE)–Tradeweb Markets Inc. (Nasdaq: TW), a leading global operator of electronic marketplaces for rates, credit, equity and money markets, today announced total trading volume for July 2022 of 22 trillion dollars (tn). Average daily volume (ADV) for the month was $1.09 billion, a 12.0% (%) year-over-year (YoY) increase.

Tradeweb’s diverse offering across products, geographies and client sectors supported double-digit growth, in a complex macroeconomic environment driven by evolving central bank policy, sustained high volatility, a strong dollar and growing economic concerns.


  • US government bond ADV increased 1.0% YoY to $117.4bn, and European government bond ADV increased 6.5% YoY (up 21.4% year-on-year in euros) to $31.4 billion.

    • Client engagement with US government bonds in the institutional and wholesale markets remained high, while rising interest rates drove strong growth in the retail market. Trading in European government bonds continued to resist the increased volatility in the interest rate market.

  • Mortgage ADV fell 10.7% year-on-year to $169.2 billion.

    • Falling issuance and rising yields continued to weigh on overall market activity.

  • Swaps/swaptions ≥ 1 year ADV increased 22.2% year-on-year to $184.9 billion, and total ADV interest rate derivatives increased 30.5% year-on-year to $313.8 billion. dollars.

    • Swap/swaptions ≥ 1 year volumes were driven by continued client interest in the Market Demand Protocol (RFM), increased international client engagement and strong trading activity in emerging market swaps. The market’s continued focus on evolving central bank policy continued to support overall market activity.


  • U.S. all-electronic credit ADV increased 16.2% year-on-year to $3.6 billion and European credit ADV was down 29.3% year-on-year (down 19.4% over one year in euros) to 1.4 billion dollars.

    • Credit volumes in the US and Europe reflected continued customer adoption across all Tradeweb protocols, including Request for Quotes (RFQ), Tradeweb AllTrade and portfolio trading. US high-end activity was boosted by a pick-up in portfolio trading, while heightened volatility weighed on overall US high-yield and European credit market activity. Tradeweb captured an all-electronic share of US High Grade and US High Yield TRACE of 13.7% and 5.5%, respectively.

  • Municipal bond ADV increased 93.3% year-on-year to $333 million (mm).

    • Record institutional volume and a pick-up in retail activity continued to drive growth.

  • Credit derivatives ADV increased 64.4% year-on-year to $12.3 billion.

    • Market-wide volatility continued to drive volumes overall.


  • The US ADV ETF was down 2.2% YoY to $6.1bn and the European ADV ETF was up 17.8% YoY (up 34.3% YoY in euros) to $3.0 billion.

    • A 21.0% year-on-year increase in global institutional client activity, driven by increased RFP adoption and continued market volatility, was more than offset by lower activity in the wholesale market and a strong dollar.


  • The ADV of the repurchase agreement increased 15.1% year-on-year to $397.3 billion.

    • Increased customer adoption of Tradeweb’s electronic trading solutions boosted Global Repo activity, although increased use of the Federal Reserve’s reverse repo facility continued to weigh on the global repo market. retirement. Retail money market activity continued to strengthen as the rate environment improved.

For final figures and the full report, visit

About Tradeweb Markets

Tradeweb Markets Inc. (Nasdaq: TW) is one of the world’s leading operators of electronic markets for rates, credit, stocks and money markets. Founded in 1996, Tradeweb provides access to markets, data and analytics, e-commerce, straight through processing and reporting for over 40 commodities to clients in institutional, wholesale and retail markets. The advanced technologies developed by Tradeweb improve price discovery, order execution and trading workflows while enabling greater scale and helping to reduce risk in clients’ trading operations. Tradeweb serves approximately 2,500 customers in over 65 countries. On average, Tradeweb has facilitated over $1 trillion in notional value traded per day over the past four quarters. For more information, visit

Forward-looking statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Statements relating to, among other things, our future prospects and performance, the industry and markets in which we operate, our expectations, beliefs, plans, strategies, objectives, outlook and assumptions and future events are forward-looking statements.

We have based these forward-looking statements on our current expectations, assumptions, estimates and projections. Although we believe these expectations, assumptions, estimates and projections to be reasonable, these 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 “Risk Factors” in Tradeweb Markets Inc.’s documents filed with or furnished to the SEC, may cause our actual results, performance or achievements to differ materially. of those expressed or implied by such forward-looking statements. Given these risks and uncertainties, you are cautioned not to place undue reliance on these 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, as well as the development of the industry and markets in which we operate, may differ materially from forward-looking statements contained in this version. 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 the results or developments in future periods.

Any forward-looking statements we make in this release speak only as of the date of this statement. Except as required by law, we undertake no obligation to update or revise, or 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 posting.

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