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Repo average daily volume (ADV) traded on the Tradeweb platform increased 33.1 per cent year-on-year to US$491.9 billion for August.
Month-on-month, repo ADV decreased by 0.9 per cent compared to the US$496.3 billion recorded in July.
Tradeweb reports that client adoption of Tradeweb’s electronic trading solutions drove global repo activity, with US market conditions pushing demand from the Federal Reserve’s reverse repo facility to money markets.
Elevated interest rates continued to encourage retail money markets activity, the company reports.
The New-york based electronic trading provider for rates, credit and money markets indicated that ADV for all asset classes for August has increased 41.2 per cent YoY to US$1.44 trillion.
US Government bond ADV rose 14.9 per cent YoY to US$142.7 billion. Similarly, European government bond ADV increased 19.6 per cent YoY to US$32.9 billion.
Tradeweb reports strong activity across all client sectors, with high interest rates driving retail market participation. Volumes for both US and European government bonds were supported by sustained rates market volatility.
For swaps and swaptions, average daily volume has grown 125.4 per cent YoY to US$381.8 billion, and total rates derivatives increased by 89.0 per cent to US$535.9 billion.
In credit markets, fully electronic US credit ADV has risen 38.9 per cent YoY to US$4.8 billion and European credit ADV has increased 48.5 per cent YoY to US$1.6 billion.
