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Repo average daily volume traded on Tradeweb increased 20.7 per cent year-over-year to US$379.0 billion for December 2022.
Generating a total of US$381 billion for repo ADV for 2022, Tradeweb highlights a 12.49 per cent YoY rise for the year.
Continued client adoption of the firm’s electronic trading solutions drove global repo activity for December, despite volatility in money markets and sustained elevated usage of the Federal Reserve’s reverse repo facility.
Tradeweb, a global operator of electronic marketplaces for rates, credit, equities, and money markets, reports that the ADV for the month of December was US$1.02 trillion, an increase of 11.6 per cent YoY.
US government bond ADV was up 0.3 per cent YoY to US$114.1 billion, while European government bond ADV increased 25.5 per cent to US$27.5 billion.
According to the US-based firm, strong European government bond trading was driven by heightened rates market volatility.
For swaps and swaptions, ADV increased 13 per cent for December to US$186.8 billion, when compared to the previous year. Total rates derivatives ADV also increased, rising 19.1 per cent to US$316.7 billion.
In credit markets, fully electronic US credit ADV was up 29.7 per cent YoY to US$3.6 billion while European credit ADV was also up 17.7 per cent to US$1.3 billion.
Billy Hult, Tradeweb CEO, says: “Despite a complex backdrop of inflation, rates volatility, geopolitical risk and a strong US dollar, we saw an increase of nearly 10 per cent in our average daily volumes year-over-year in 2022.
“While rates volumes reflected these headwinds in the early part of the fourth quarter, we finished the year with a strong December across our global platform. The growth we experienced was broad-based across our markets, and reflected stronger client engagement in an array of tools and protocols including portfolio trading, request-for-quote (RFQ) and request-for-market (RFM).”
