Tradeweb has reported total trading volume of USD19.6 trillion for May 2021. Average daily volume (ADV) for the month was USD980.4 billion, an increase of 23.9 per cent year over year.
Swaps volumes were driven by record institutional SEF market share (based on data from ClarusFT) and continued engagement from international clients, across protocols and in both developed and emerging markets. In US Credit, Tradeweb’s share of fully electronic High Grade TRACE was 11.2 per cent in May, the second highest month for Tradeweb, of which a record share was driven by client activity in AllTrade. In addition, Tradeweb facilitated a record USD369.3 billion in Repurchase Agreements.
Lee Olesky, Tradeweb CEO, says: “The secular trend towards more electronic trading and digital workflows continued at an accelerated pace in May. While volatility in many markets was lower compared to May 2020, each of our asset classes showed signs of greater adoption as Tradeweb’s average daily volume for the month was up 24 per cent year over year. This broad momentum demonstrates just how vital electronic trading has become to client workflows.”