Financial and Business News

Year End Trading Volume Hits $63 Trillion on Tradeweb; What It Means for Retail Traders

Wednesday, 07/01/2026 | 14:04 GMT by Tareq Sikder
  • Average daily volume rises 28% as mortgage and swap trading see strong institutional growth.
  • Institutional flows shape market sentiment, influencing retail-accessible bonds and ETF products.
Tradeweb

Tradeweb Markets Inc., a global operator of electronic marketplaces for bonds, rates, credit, equities, and money markets, reported total trading volume for December of $63 trillion. Average daily volume for the month reached $2.8 trillion, up 28% compared with December 2024.

Institutional Flows Hint at Retail Markets

While retail investors do not trade directly on Tradeweb, the platform’s record activity offers insights into broader market trends. Much of the growth came from U.S. and European government bonds, swaps, and mortgage trading. U.S. government bond activity increased 5.7% year-over-year, while European government bonds rose 46.5%.

Mortgage trading climbed 10%, driven by real-money accounts and institutional participation.

Credit, Equities, Money Markets Show Growth

Billy Hult, Tradeweb CEO, Source: LinkedIn

Credit markets were also active. Municipal bonds increased 10% YoY, and U.S. high-grade and high-yield credit saw strong adoption of electronic protocols.

Equities showed growth in U.S. ETFs, which rose 9% YoY, while international ETFs remained largely unchanged. Money markets, particularly repo trading, grew 16% as institutions adjusted portfolios at year-end.

These trends illustrate where institutional flows are concentrated and how they can affect markets accessible to retail investors, including bond ETFs, municipal bonds, and other interest-rate sensitive assets.

Tradeweb CEO Billy Hult said the quarter ended with “solid average daily volume momentum” and highlighted “broad client engagement across global markets.”

Electronic Trading Growth Influences Market Sentiment

Tradeweb’s strong first-quarter performance last year set the stage for December’s record activity, reflecting a clear trend of rising institutional engagement. Q1 ADV reached $2.5 trillion, with revenue up nearly 25% YoY, supported by broad-based growth across rates, credit, mortgages, and swaps.

Rising adoption of electronic trading protocols and robust participation from institutional and wholesale clients underpinned this momentum. For retail investors, the expanding liquidity and activity in these markets can influence accessible instruments such as bond and ETF products, providing insight into market sentiment, yield movements, and potential volatility.

Tradeweb Markets Inc., a global operator of electronic marketplaces for bonds, rates, credit, equities, and money markets, reported total trading volume for December of $63 trillion. Average daily volume for the month reached $2.8 trillion, up 28% compared with December 2024.

Institutional Flows Hint at Retail Markets

While retail investors do not trade directly on Tradeweb, the platform’s record activity offers insights into broader market trends. Much of the growth came from U.S. and European government bonds, swaps, and mortgage trading. U.S. government bond activity increased 5.7% year-over-year, while European government bonds rose 46.5%.

Mortgage trading climbed 10%, driven by real-money accounts and institutional participation.

Credit, Equities, Money Markets Show Growth

Billy Hult, Tradeweb CEO, Source: LinkedIn

Credit markets were also active. Municipal bonds increased 10% YoY, and U.S. high-grade and high-yield credit saw strong adoption of electronic protocols.

Equities showed growth in U.S. ETFs, which rose 9% YoY, while international ETFs remained largely unchanged. Money markets, particularly repo trading, grew 16% as institutions adjusted portfolios at year-end.

These trends illustrate where institutional flows are concentrated and how they can affect markets accessible to retail investors, including bond ETFs, municipal bonds, and other interest-rate sensitive assets.

Tradeweb CEO Billy Hult said the quarter ended with “solid average daily volume momentum” and highlighted “broad client engagement across global markets.”

Electronic Trading Growth Influences Market Sentiment

Tradeweb’s strong first-quarter performance last year set the stage for December’s record activity, reflecting a clear trend of rising institutional engagement. Q1 ADV reached $2.5 trillion, with revenue up nearly 25% YoY, supported by broad-based growth across rates, credit, mortgages, and swaps.

Rising adoption of electronic trading protocols and robust participation from institutional and wholesale clients underpinned this momentum. For retail investors, the expanding liquidity and activity in these markets can influence accessible instruments such as bond and ETF products, providing insight into market sentiment, yield movements, and potential volatility.

Topics
institutional
tradeweb
Tradeweb Markets
About the Author: Tareq Sikder
Tareq Sikder
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A Forex technical analyst and writer who has been engaged in financial writing for 12 years.

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