Repo ADV rises 15.9% for March, reports Tradeweb
07 April 2026 US
Image: Francescozano/stock.adobe.com Repo average daily volume (ADV) traded on the Tradeweb platform climbed 15.9 per cent year-on-year (YoY) to US$859.1 billion for March.
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.
As with February, 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, with geopolitical tensions intensifying, Tradeweb saw increased volatility and higher demand for short-term funding, which 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 March reached a record US$3.8 trillion, up 41.8 per cent YoY.
US government bond ADV was up 24.4 per cent YoY to US$310.1 billion. European government bond ADV was up 27.4 per cent YoY to US$80.8 billion.
For swaps and swaptions, ADV jumped 60.4 per cent YoY for the month to US$949.8 billion. Total rates derivatives ADV also increased, rising 80.1 per cent YoY to US$1.8 trillion.
In credit markets, fully electronic US credit ADV was up 12.3 per cent YoY to US$10.7 billion, while European credit ADV rose 3.2 per cent YoY to US$3.2 billion.
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