Repo average daily volume traded on the Tradeweb platform increased 41.2 per cent year-over-year to US$527.2 billion for October 2023.
Further client adoption of Tradeweb’s electronic trading solutions drove global repo activity for the month. US market conditions shifted demand from the Federal Reserve’s reverse repo facility to money markets.
The global operator of electronic marketplaces for rates, credit, equities and money markets reports that the ADV across all asset classes for October reached US$1.75 trillion, an increase of 66.3 per cent YoY.
US government bond ADV was up 27.7 per cent YoY to US$163.7 billion for October. European government bond ADV was also on the rise by 12.0 per cent YoY to US$42.3 billion.
According to Tradeweb, US and European government bond volumes were supported by sustained rates market volatility.
For swaps and swaptions, ADV climbed 121.1 per cent YoY for October to US$463.4 billion. Total rates derivatives ADV also increased, rising 174.0 per cent YoY to US$749.6 billion.
In credit markets, fully electronic US credit ADV grew 24.9 per cent YoY to US$5.6 billion while European credit ADV was up 27.4 per cent YoY to US$2.1 billion.
US credit volumes reflected continued client adoption across Tradeweb protocols, the US-based firm says, including request-for-quote (RFQ), portfolio trading and Tradeweb AllTrade.
