Repo average daily volumes traded on Tradeweb have increased 11.9 per cent YoY for May, rising to US$470.2 billion.
This also represents a 9.6 per cent month-on-month increase from the US$429.0 billion repo ADV recorded in April.
The New York-based provider of electronic trading for rates, credit, equities and money markets indicates that average daily trading volume across all asset classes for the month of May has risen 14.1 per cent YoY to US$1.35 trillion.
For trading in government bonds, US government bond ADV has grown 6.1 per cent YoY to US$144.3 billion. European government bond ADV has also increased 16.5 per cent YoY to US$41.6 billion for the month of May.
Tradeweb reports that this growth in wholesale volumes reflects continued client adoption of Tradeweb protocols against a background of falling volumes across the industry as a whole.
Average daily trading volume for swaps and swaptions was up 47.0 per cent YoY to US$315.8 billion for May, with ADV for interest rate derivatives rising by 23.9 per cent YoY to US$467.3 billion.
In credit markets, fully electronic US credit ADV has risen 9.5 per cent YoY to US$4.5 billion for May, with European credit ADV improving 10.5 cent YoY in USD terms to US$1.9 billion.
