Tradeweb Reports ADV of $1.09 Trillion in April 2022

Nasdaq-listed international operator of electronic marketplaces for rates, credit, equities and money markets, Tradeweb Markets posted its trading volumes for April 2022 today. The operator witnessed a jump of 22.1% YoY in the average daily volume as the number reached $1.09 trillion.

For the recent month, Tradeweb posted a total trading volume of $21.6 trillion. The company saw solid growth across US government bond ADV, Credit and Money Markets. However, US ETF ADV was down marginally by 0.3% YoY.

US government bond ADV was one of the key drivers behind Tradeweb’s growth in April. Compared to the same period last year, the number increased by 41.5% to $135.9 billion. European government bond ADV climbed 18.2% YoY to $33.5 billion.

“Trading in U.S. government bonds was supported by strong client activity in institutional and wholesale markets; the continued momentum of session-based trading and streaming protocols; and the addition of the Nasdaq Fixed Income business. Global government bond trading remained strong amidst heightened rates market volatility as yields continued to rise across developed markets,” Tradeweb noted.

Credit and Money Markets

Across Credit, the fully electronic US Credit ADV increased by 23% YoY in April to $4 billion. However, European credit ADV dipped slightly by 0.2% to $1.9 billion.

“The U.S. and European credit volumes reflected continued client adoption across all Tradeweb protocols, including Tradeweb AllTrade’s request-for-quote (RFQ) and portfolio trading. Reported European volumes were impacted by a strong U.S. dollar. In April, Tradeweb captured a fully electronic share of U.S. High Grade and U.S. High Yield TRACE of 12.3% and 7.3%, respectively. Additionally, further client adoption of Tradeweb’s Multi-Client Net Spotting tool boosted electronically processed activity,” the operator added.

As far as Money Markets are concerned, Tradeweb saw a jump of more than 15% YoY in repurchase agreement ADV as the number touched $375.3 billion.