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Repo ADV rises 15.5% YoY for May, says Tradeweb
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Repo average daily volume (ADV) traded on the Tradeweb platform climbed 15.5 per cent year-on-year (YoY) to US$899.1 billion for May.
According to Tradeweb, the 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 the majority of the month, with small spikes mid-month and at the end of the month.
In Europe, strong activity continued to be driven by geopolitical factors feeding into European Central Bank and Bank of England policy rate changes.
The firm reports that ADV across all asset classes for the month of May reached US$3 trillion, up 18.3 per cent YoY.
US government bond ADV was up 19.8 per cent YoY to US$282.7 billion. European government bond ADV was up 26.3 per cent YoY to US$64.1 billion.
For swaps and swaptions, ADV jumped 23.8 per cent YoY for the month to US$609.2 billion. Total rates derivatives ADV also increased, rising 26.6 per cent YoY to US$1.1 trillion.
In credit markets, fully electronic US credit ADV was up 20.4 per cent YoY to US$10 billion, while European credit ADV rose 25.5 per cent YoY to US$3 billion.
According to Tradeweb, the 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 the majority of the month, with small spikes mid-month and at the end of the month.
In Europe, strong activity continued to be driven by geopolitical factors feeding into European Central Bank and Bank of England policy rate changes.
The firm reports that ADV across all asset classes for the month of May reached US$3 trillion, up 18.3 per cent YoY.
US government bond ADV was up 19.8 per cent YoY to US$282.7 billion. European government bond ADV was up 26.3 per cent YoY to US$64.1 billion.
For swaps and swaptions, ADV jumped 23.8 per cent YoY for the month to US$609.2 billion. Total rates derivatives ADV also increased, rising 26.6 per cent YoY to US$1.1 trillion.
In credit markets, fully electronic US credit ADV was up 20.4 per cent YoY to US$10 billion, while European credit ADV rose 25.5 per cent YoY to US$3 billion.
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