Tradeweb's October Average Daily Volume Jumps 66%, Driven by Market Volatility

<p>The US-based electronic marketplace Tradeweb Markets
reported a total trading volume of $37.2 trillion in October 2023. Its average
daily volume (ADV) for the month was $1.75 trillion, marking a staggering
increase of 66.3% year-over-year (YoY). This record-breaking volume was fueled by expanding participation from various client sectors and sustained
market volatility, partly driven by high interest rates.</p><p>The ADV for US government bonds surged
27.7% YoY, reaching $163.7 billion. European government bonds saw a substantial
uptick, with ADV up by 12% YoY, reaching $42.3 billion. Tradeweb's October 2023
report revealed impressive growth in several other key areas. </p><p>The mortgage market reported a boost of 13.4% YoY in
ADV, hitting $193.8 billion. This growth was propelled by the increased
involvement of fast-money accounts and robust client engagement, the
Nasdaq-listed operator mentioned. </p><p>US and European Credit ADV Soar</p><p>In the credit sector, the ADV for the electronic US
credit demonstrated a substantial jump of 24.9% YoY, hitting $5.6 billion. The ADV for the European credit followed suit, rising 27.4% YoY to $2.1 billion. In
contrast, the ADV for Municipal bonds experienced a modest growth of 2.1% YoY, reaching
$472 million. </p><p>The ADV for Tradeweb's US ETF declined 6.5% YoY to $7.2
billion, while that for the European ETF increased by 24.1% YoY, reaching $2.6 billion.
Institutional engagement in US ETFs remained strong, increasing by 10% YoY. The
growth of European ETFs was attributed to stable market volumes.</p><blockquote><p lang="en" dir="ltr">Today we reported October 2023 total trading volume of $37.2tn and record average daily volume of $1.75tn. Read more: <a href="https://t.co/OYE4Z8iCJL">https://t.co/OYE4Z8iCJL</a> <a href="https://t.co/UaDqkVWgeQ">pic.twitter.com/UaDqkVWgeQ</a></p>— Tradeweb (@Tradeweb) <a href="https://twitter.com/Tradeweb/status/1720404736573153614?ref_src=twsrc%5Etfw">November 3, 2023</a></blockquote><p>In September, <a href="https://www.financemagnates.com/tag/tradeweb/" target="_blank" rel="follow">Tradeweb</a> posted a total trading volume
of $31.8 trillion and a <a href="https://www.financemagnates.com/institutional-forex/tradewebs-average-daily-volume-hits-new-highs-at-157-trillion-in-september-2023/" target="_blank" rel="follow">record-breaking ADV of $1.57 trillion</a>. The company
recorded a growth of 30% YoY in ADV during this period. Despite a slightly
lower total trading volume compared to August, which reached $33 trillion,
September's fewer trading days didn't hinder Tradeweb's high performance. </p><p>Tradeweb's Q3 Trading Volume Surpasses $90 Trillion</p><p>For the third quarter, Tradeweb reported a total
trading volume of $90.4 trillion and a record ADV of $1.42 trillion, reflecting
a noteworthy YoY increase of 29.6%. Additionally, the company highlighted
preliminary average variable fees per million dollars of volume traded at
$2.51.</p><p>In the rates market, the ADV for US government bonds
rose 12.4% YoY to <a href="https://www.financemagnates.com/institutional-forex/tradewebs-average-daily-volume-hits-new-highs-at-157-trillion-in-september-2023/" target="_blank" rel="follow">$145.3 billion in September</a>, while the ADV for the European
government bond increased 1.9% to $42.4 billion. The credit market also
witnessed significant growth, with fully electronic US credit ADV surging 14.3%
to $4.9 billion and European credit ADV rising 22.6% to $2.1 billion.</p><p>Similarly, in August,
Tradeweb <a href="https://www.financemagnates.com/forex/brokers/tradewebs-august-trading-volume-reaches-33-trillion-following-strong-quarter/" target="_blank" rel="follow">marked an increase of 41% YoY</a> in monthly trading volume. According to
the company, this surge in trading activity includes a notable increase in the trading of government bonds and mortgage. It highlights the company's resilience
and adaptability in dynamic financial markets.</p>

This article was written by Jared Kirui at www.financemagnates.com.