Repo average daily volume (ADV) traded on the Tradeweb platform climbed 33.8 per cent year-on-year to US$550.3 billion for February.
For rates trades, US government bond ADV was up 44.0 per cent YoY to US$207.8 billion, with European government bond ADV rising 17.9 per cent YoY to US$51.0 billion.
Tradeweb reports that U.S. government bond volumes were supported by growth across all client sectors, leading to record volume on the institutional platform for the second consecutive month.
There was an abundance of new issuance across Europe and the UK in the primary market, along with increased client activity.
For swaps and swaptions, ADV has grown 65.1 per cent YoY to US$502.3 billion and total rates derivatives ADV increased by 32.1 per cent YoY to US$789.7 billion.
In credit markets, fully electronic US credit ADV has risen 49.9 per cent YoY to US$7.7 billion. European credit ADV also increased 4.7 per cent YoY to US$2.3 billion.
The global fixed income and repo platform operator indicates that the combination of quantitative tightening, heightened collateral supply, and current rates market activity shifted more balances from the Federal Reserve’s reverse repo facility to money markets.
