Tradeweb Sees Solid Trading in September, Hits Records in Q3

The ADV for the month of September is higher by 47.3 percent year-on-year.

Tradeweb Markets Inc., an operator of electronic marketplaces for rates, credit, equities, and money markets, has published its trading volumes for September this Thursday.

During the month, the electronic platform operator recorded an average daily volume (ADV) of $872.0 billion in aggregate. When measuring this against the same period of the previous year, it is higher by 47.3 percent.

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Many trading providers in the foreign exchange (forex) space, have reported weak trading volumes in September, against a strong performance in August. Tradeweb, however, has reported the reverse.

In August of 2019, the company achieved an average daily volume of $832.4 billion. While this figure was higher on a year-on-year comparison by 67.9 percent when measuring September’s figure against August, last month’s ADV has increased by 4.8 percent.

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September’s solid results were driven by strong performances in US exchange-traded funds (ETFs), an uptick in the daily trading of mortgages, and more. 

Namely, the average daily volume for US ETFs was $3.4 billion. This is higher than the $3.2 billion daily average trading executed in the month of August by 6.3 percent. The ADV for European ETFs remained flat, at $1.9 billion.

Despite the fact that overall, the average daily trading picked up during the month of September on a monthly comparison, not all segments managed to post an increase in trading volumes from August to last month.

One of those segments was Chinese bonds. Specifically, in August, the fixed-income platform operator noted an ADV of $1.4 billion. However, in September, the average trading per day slumped down to $1.0 billion, which represents a drop of 28.6 percent.

Tradeweb reports record ADV for Q3

“For the third quarter of 2019, Tradeweb reported a new quarterly record for ADV of $815.0 bn. In addition, Tradeweb disclosed preliminary average variable fees per million dollars of volume traded of $2.20 for the third quarter of 2019,” the company said in a statement.

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