Total trading volume in October fell below July's performance.
Tradeweb reported an 8.2% increase in its revenue during Q3 2022.
Tradeweb Markets, a NASDAQ-listed operator of electronic marketplaces for rates, credit, equities and money markets, saw a reversal in its two-month growth in October 2022. The operator’s total trading volume for October came in at $21.3 trillion, which is a -15% decline month-over-month (MoM) from the $25.1 trillion posted in September.
Earlier in July, Tradeweb’s total monthly volume dropped -16% from $26.1 trillion in June to $22 trillion. However, the volume rose 6% to $23.4 trillion in August and improved further by 7.3% in September before relapsing below its July performance.
Furthermore, the operator’s average daily volume (ADV) in October 2022 slumped -by 12% MoM and -16.5% year-over-year (YoY) to $1.05 trillion. The ADV reached $1.20 trillion in September.
In contrast, Tradweb recently reported an 8.2% increase in its revenue for the third quarter of 2022. The numbers came in at $287.1 million. The electronic marketplaces operator also said it saw a record ADV during the quarter.
Market Breakdown
Finance Magnates’ analysis of the figures shared by Tradeweb shows that Tradeweb experienced mixed growth across all its markets.
In the rates market, the US government bond ADV dropped -0.9% MoM to $128.1 billion and sank further by -14% YoY. The same thing happened to the European government bond which came in at $37.8 billion in October, representing a -9% MoM slump but a 4.2% YoY growth.
“U.S. government bond activity was lower YoY, as industry volumes declined. While U.S. government bond activity in institutional markets was modestly lower, we saw a record in average daily trades, up 61.2% YoY,” Tradeweb explained.
Unlike the rates market, the credit market recorded some growth. The fully electronic US credit’s ADV improved 5% MoM and 15.2% YoY to $4.4 billion in October. However, the ADV of the European credit remained flat, returning $1.7 billion in October just like it did in September. On a year-over-year basis, nonetheless, this represents -an 8.6% drop in the daily average. Also in the rates market, municipal bonds in the credit market posted an impressive 20% MoM and 147% YoY growth in their daily average volumes. In contrast, Tradeweb’s credit derivates ADV collapsed -57%MoM to $15.9 billion but improved 39.3% YoY.
In the equities market, Tradweb’s exchange-traded funds (ETFs) posted a marginal 1.3% MoM ADV growth but got a better 55.4% YoY boost in daily average. This is as the US EFT ADV came in at $7.7 billion in October. In contrast, the operator’s European ETF ADV declined -12.5% MoM and -6.8% YoY to $2.1 billion, which is down from $2.4 billion in September.
In the money market, the ADV of repurchase agreements (repos) traded on Tradeweb decreased -2.1% MoM to $373.3 billion, which is down from $381.2 billion in September. However, on a YoY basis the repo ADV jumped 13.6%.
“Continued client adoption of Tradeweb’s electronic trading solutions drove Global Repo activity, despite significant volatility in money markets and sustained elevated usage of the Federal Reserve’s reverse repo facility. Retail money markets activity reached a record high as rates continued to rise," Tradeweb explained.
Tradeweb Markets, a NASDAQ-listed operator of electronic marketplaces for rates, credit, equities and money markets, saw a reversal in its two-month growth in October 2022. The operator’s total trading volume for October came in at $21.3 trillion, which is a -15% decline month-over-month (MoM) from the $25.1 trillion posted in September.
Earlier in July, Tradeweb’s total monthly volume dropped -16% from $26.1 trillion in June to $22 trillion. However, the volume rose 6% to $23.4 trillion in August and improved further by 7.3% in September before relapsing below its July performance.
Furthermore, the operator’s average daily volume (ADV) in October 2022 slumped -by 12% MoM and -16.5% year-over-year (YoY) to $1.05 trillion. The ADV reached $1.20 trillion in September.
In contrast, Tradweb recently reported an 8.2% increase in its revenue for the third quarter of 2022. The numbers came in at $287.1 million. The electronic marketplaces operator also said it saw a record ADV during the quarter.
Market Breakdown
Finance Magnates’ analysis of the figures shared by Tradeweb shows that Tradeweb experienced mixed growth across all its markets.
In the rates market, the US government bond ADV dropped -0.9% MoM to $128.1 billion and sank further by -14% YoY. The same thing happened to the European government bond which came in at $37.8 billion in October, representing a -9% MoM slump but a 4.2% YoY growth.
“U.S. government bond activity was lower YoY, as industry volumes declined. While U.S. government bond activity in institutional markets was modestly lower, we saw a record in average daily trades, up 61.2% YoY,” Tradeweb explained.
Unlike the rates market, the credit market recorded some growth. The fully electronic US credit’s ADV improved 5% MoM and 15.2% YoY to $4.4 billion in October. However, the ADV of the European credit remained flat, returning $1.7 billion in October just like it did in September. On a year-over-year basis, nonetheless, this represents -an 8.6% drop in the daily average. Also in the rates market, municipal bonds in the credit market posted an impressive 20% MoM and 147% YoY growth in their daily average volumes. In contrast, Tradeweb’s credit derivates ADV collapsed -57%MoM to $15.9 billion but improved 39.3% YoY.
In the equities market, Tradweb’s exchange-traded funds (ETFs) posted a marginal 1.3% MoM ADV growth but got a better 55.4% YoY boost in daily average. This is as the US EFT ADV came in at $7.7 billion in October. In contrast, the operator’s European ETF ADV declined -12.5% MoM and -6.8% YoY to $2.1 billion, which is down from $2.4 billion in September.
In the money market, the ADV of repurchase agreements (repos) traded on Tradeweb decreased -2.1% MoM to $373.3 billion, which is down from $381.2 billion in September. However, on a YoY basis the repo ADV jumped 13.6%.
“Continued client adoption of Tradeweb’s electronic trading solutions drove Global Repo activity, despite significant volatility in money markets and sustained elevated usage of the Federal Reserve’s reverse repo facility. Retail money markets activity reached a record high as rates continued to rise," Tradeweb explained.
Solomon Oladipupo is a journalist and editor from Nigeria that covers the tech, FX, fintech and cryptocurrency industries. He is a former assistant editor at AgroNigeria Magazine where he covered the agribusiness industry. Solomon holds a first-class degree in Journalism & Mass Communication from the University of Lagos where he graduated top of his class.
Devexperts Teams Up with nuam Exchange to Boost Equity and Derivatives Trading
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
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20-22 MAY 2024
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Looking to expand your network in #Africa?
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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