Repo ADV climbs 21% YoY for February, reports Tradeweb
05 March 2026 US
Image: maximilian_100/stock.adobe.com
Repo average daily volume (ADV) traded on the Tradeweb platform climbed 21 per cent year-on-year (YoY) to US$866.4 billion for February.
According to Tradeweb, record global repo average daily volume was supported by increased client participation across the platform YoY.
In the US, strong growth continued to be driven by the effects of the Fed’s balance sheet unwind.
Additionally, balances in the Fed’s reverse repo facility (RRP) remained close to zero for a majority of the month, with a small spike at month end.
In Europe, despite broadly steady policy rates, increased volatility, and higher demand for short term funding led to strong activity.
The global operator of electronic marketplaces for rates, credit, equities, and money markets reports that ADV across all asset classes for the month of February reached US$3.1 trillion, up 23.4 per cent YoY.
US government bond ADV was up 6.4 per cent YoY to US$268.4 billion. European government bond ADV was up 34.5 per cent YoY to US$77.3 billion.
For swaps and swaptions, ADV was up 10.2 per cent YoY for the month to US$554.5 billion. Total rates derivatives ADV also increased, rising 38.9 per cent YoY to US$1.2 trillion.
In credit markets, fully electronic US credit ADV was up 13.1 per cent YoY to US$9.8 billion, while European credit ADV jumped 21.1 per cent YoY to US$3.5 billion.
According to Tradeweb, record global repo average daily volume was supported by increased client participation across the platform YoY.
In the US, strong growth continued to be driven by the effects of the Fed’s balance sheet unwind.
Additionally, balances in the Fed’s reverse repo facility (RRP) remained close to zero for a majority of the month, with a small spike at month end.
In Europe, despite broadly steady policy rates, increased volatility, and higher demand for short term funding led to strong activity.
The global operator of electronic marketplaces for rates, credit, equities, and money markets reports that ADV across all asset classes for the month of February reached US$3.1 trillion, up 23.4 per cent YoY.
US government bond ADV was up 6.4 per cent YoY to US$268.4 billion. European government bond ADV was up 34.5 per cent YoY to US$77.3 billion.
For swaps and swaptions, ADV was up 10.2 per cent YoY for the month to US$554.5 billion. Total rates derivatives ADV also increased, rising 38.9 per cent YoY to US$1.2 trillion.
In credit markets, fully electronic US credit ADV was up 13.1 per cent YoY to US$9.8 billion, while European credit ADV jumped 21.1 per cent YoY to US$3.5 billion.
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