Tradeweb Ends 2020 with Impressive ADV Gain

The platform recorded a surge in demand across all its offered markets.

Fixed-income trading platform, Tradeweb Markets published its trading volume metrics for December 2020, showing a healthy growth trend in the demand for financial instruments.

The total trading volume for last month came in at $18.2 trillion, with the average daily volume standing at $834.5 billion. Though the ADV slipped from the previous month’s record of $958.7 billion, last month’s numbers were 28 percent higher, when compared year-over-year.

Indeed, the entire trading industry has seen a slump in volume in the last month of the year due to the holidays. Thus, it is more appropriate to compare the numbers with the same period of the previous year rather than the previous month.

Additionally, November’s numbers were boosted with several key events, including the US elections.

Maintained Growth across the Quarter

Tradeweb detailed that the US government bonds witnessed a yearly spike of 27.5 percent to $92 billion, while the European bond market’s ADV surged to $30.4 billion, gaining 21 percent year-on-year. Mortgage and rates derivatives AVD went up by 23.7 percent and 14.6 percent, respectively.

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Moreover, the US credit market’s ADV gained 28 percent, the European counterpart added 22.7 percent year-on-year. Demand for the US and European ETFs increased by 9.5 percent and 20.6 percent, respectively.

Furthermore, Tradeweb, whose majority-stake is owned by Refinitiv, posted its overall quarterly numbers, showing a total ADV of $897.9 billion for the period, 30.9 percent higher from the previous year’s numbers.

Commenting on the numbers, Tradeweb CEO, Lee Olesky said: “A strong December capped off a record quarter for Tradeweb, with all of our asset classes contributing. While our volumes in 2020 were impacted by a variety of factors including remote work, massive debt issuance, and periods of market volatility, our fourth quarter success was clearly driven by broader adoption of electronic trading tools and protocols. We believe this trend towards more electronic trading will continue into 2021.”

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