Tradeweb Markets announced today that its total trading volume in January 2021 jumped above $20 trillion. The average daily volume (ADV) reached $1 trillion for the first time since March 2020.
According to the official announcement, Tradeweb saw record ADVs in U.S. Government Bonds, Mortgages, U.S. High-Grade Credit, U.S. High Yield Credit, European Credit, and Chinese Bonds in the last month.
The latest ADV numbers are up 29.5% compared to January 2020. The ADV of the US and the European ETF was up 57.4% and 83.7%, respectively in January 2021, compared to the same period a year ago. Credit derivatives ADV reached $9.5 billion last month.
Commenting on the recent financial results, Lee Olesky, CEO of Tradeweb, said: “January 2021 was Tradeweb’s busiest month ever, and the second time in the last twelve months that our monthly ADV topped $1 trillion. We saw increased momentum building on the back of our record Q4 activity, with heavy volumes across asset classes. While there were many factors contributing to this activity, there is no question that client-driven innovation continues to inspire stronger adoption of our tools and technology.”
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Strong Financial Numbers
Tradeweb has started 2021 with record financial numbers, the company captured a record 20.5% of U.S. High-Grade TRACE in the last month.
“Records in U.S. High Grade, U.S. High Yield, and European credit were buoyed by record activity in global portfolio trading. Anonymous all-to-all trading and anonymous session-based trading remained strong in both U.S. and European Credit. The U.S. Credit platform captured record TRACE market share in High Grade. TRACE High-Grade market share was 20.5% (10.1% fully electronic) and TRACE High Yield market share was 6.2% (3.2% fully electronic). Credit derivatives ADV was up 10.8% YoY to $9.5bn,” Tradeweb mentioned in the press release.
Finance Magnates earlier reported about Tradeweb’s record month in October due to higher activity in the US, and European government bond markets, along with a surge in ETF trading.