Tradeweb sees ADV in repo increase 10 July 2019London Reporter: Maddie Saghir
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Average daily volume (ADV) in repo at Tradeweb has risen 43.4 percent year on year to $213.1 billion per day since more and more trading activity moves from voice to screen, Tradeweb’s June Monthly Activity Report found.
This follows Tradeweb’s progress in growing electronic trading of bilateral repos, which help to preserve relationships between dealers and clients.
Tradeweb added that it also reduces the inefficiencies and errors associated with traditional voice trading.
Since a sustained drive to onboard dealers began a year ago, a total of 11 dealers are now on the US platform and 19 are on the European platform, Tradeweb revealed.
Meanwhile, Tradeweb noted that ADV for June set a new record of $859.2 billion, representing an increase of 45.8 percent year over year (YoY).
Rates derivatives trading set a new record for ADV as volumes increased 69.4 percent YoY to $298.9 billion per day, according to the report.
Further highlights from the report found that ADV of European exchange traded funds rose 22.1 percent YoY to $1.6 billion per day while US ETFs increased 6.8 percent to $2.9 billion per day.
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