Treasuries trading venue LiquidityEdge saw its average daily trading volumes reach $15 billion, in October.
On 3 October, participants traded over $22 billion in US Treasuries across both on-the-runs and off-the-runs.
According to the trading venue, the surge in activity has been driven by favourable market conditions and more flexible methods of accessing liquidity, tighter prices and greater depth of market.
Since launching in September 2015, LiquidityEdge has grown its US Treasury market share and volumes, establishing itself as an alternative model for fixed income.
It works with over 100 institutions including primary dealers, regional dealers, professional trading groups and buy-side clients who use LiquidityEdge’s trading platform on a daily basis.
Nichola Hunter, CEO of LiquidityEdge, said: “Our aim from the outset has been to provide participants with the choice and flexibility of how they want to access liquidity.”
She added: “The latest trading data demonstrates the confidence and trust the market has in our model and we have no doubt that as market structure continues to evolve, we will continue to see record growth on the platform.”
Dominic Holland, head of fixed income electronic markets at BNY Mellon capital markets, LLC commented: “LiquidityEdge provides the market with a fresh, innovative take on US Treasury trading at a time when clients are adjusting their portfolios amid rising interest rates.”
He added: “BNY Mellon is always looking for new sources of liquidity for our clients so we are delighted that the platform has been embraced so enthusiastically by the marketplace.”
Eric Einfalt, head of strategic development at XR Trading, said: “LiquidityEdge is among a handful of innovative platforms pioneering the direct streaming model in US cash treasuries.”
He added: “As a premier global liquidity provider, XR Trading is happy to be partnering with LiquidityEdge and others well positioned to help shape tomorrow’s market structure and usher in fair and efficient access to the fixed income market.”
