Repo average daily volumes traded on Tradeweb increased 16.7 per cent YoY for August, rising to US$369.6 billion.
Tradeweb reports that stronger client adoption of Tradeweb’s electronic trading solutions powered a rise in global repo activity, even though heightened use of the Federal Reserve’s reverse repo facility to access liquidity weighed on the repo market overall.
The US-based provider of electronic trading for rates, credit, equities and money markets indicates that average daily trading volume for the month of August was up 13.0 per cent YoY to US$1.02 trillion.
Trading of government fixed income securities on Tradeweb rose during August, with US government bond ADV up 0.7 per cent YoY to US$124.2 billion and European government bond ADV rising 22.7 per cent YoY for February to US$27.5 billion.
Tradeweb reports that client engagement remains high in US government bonds across institutional and retail markets, while rising interest rates have fuelled growth in the retail market. In European government bond markets, trading activity remained strong on the back of heightened volatility in rates markets.
Average daily trading volume for swaps and swaptions rose 34.0 per cent YoY to US$169.4 billion for February, with ADV for interest rate derivatives climbing 26.4 per cent YoY to US$283.5 billion.
In credit markets, fully electronic US credit ADV was up 14.8 per cent YoY to US$3.5 billion for August, with European credit ADV contracting 9.6 per cent YoY in USD terms to US$1.0 billion.
August also delivered a sharp rise in credit derivatives ADV, which was up 95.0 per cent YoY to US$11.4 billion.
