Tradeweb Markets, a NASDAQ-listed operator of
electronic marketplaces for rates, credit, equities and money markets,
generated a turnover of $23.2 trillion in November 2022. This represents a 9%
gain from its $21.3 trillion turnover in October.
The operator’s average daily volume (ADV) also
increased by 7% to $1.13 trillion, up from $1.05 trillion in October but
down 3.7% year-over-year (YoY).
Today we reported total November 2022 trading volume of $23.2tn and average daily volume of $1.13tn.
Read more here: https://t.co/20af68AJwW pic.twitter.com/jFceD6L5hU
— Tradeweb (@Tradeweb) December 5, 2022
Tradeweb’s performance in November reflects the
undulating turnover volumes the operator has been recording since July. In
July, the operator’s total trading volume declined
-16% to $22 trillion, then grew
by 6% to $23.4 trillion in August and further shot up by 7.3% to
$25.1 trillion in September. However, in October, Tradeweb lost this
two-month gain, relapsing
to $21.3 trillion before returning a gain
last month (November).
Market-by-Market Analysis
In the rates market, the ADV of trades in US
government bonds rose by 7% from $128.1 billion in October to $137 billion last
month. However, the daily average dropped by -5.2% YoY. On the contrary, daily
average trades in European government bonds went down -9% MoM and -1% YoY to
$34.3 billion.
In the credit market, the ADV of fully
electronic US credit rose by 4.5% MoM and 16.6% YoY to $4.6 billion while the European credit ADV jumped 6% to $1.8 billion but dropped -3.6% YoY. On the other hand, credit derivatives in this market slumped -33% to $15.9 billion, down from $10.7
billion in the prior month. Regardless, on a year-over-year basis, the November
credit derivatives daily average represents an 8.4% increase.
In the equities market, the daily average volume
of US exchange-traded funds dropped -13% to $6.7 billion but climbed 21.3% YoY.
In the same vein, the European ETF ADV shot up 10% MoM to $2.3 billion but
declined -6.3% YoY.
In the money markets, the ADV of repurchase
agreements increased by 6% MoM and 13.6% YoY to $395.6 billion, up from $373.3
billion in the prior month.
“[In November], we continued to help our clients
navigate a complex macroeconomic backdrop, including evolving central bank
policy, sustained elevated volatility, economic concerns and a strong U.S.
dollar (USD),” Tradeweb noted in a press statement.
Tradeweb Markets, a NASDAQ-listed operator of
electronic marketplaces for rates, credit, equities and money markets,
generated a turnover of $23.2 trillion in November 2022. This represents a 9%
gain from its $21.3 trillion turnover in October.
The operator’s average daily volume (ADV) also
increased by 7% to $1.13 trillion, up from $1.05 trillion in October but
down 3.7% year-over-year (YoY).
Today we reported total November 2022 trading volume of $23.2tn and average daily volume of $1.13tn.
Read more here: https://t.co/20af68AJwW pic.twitter.com/jFceD6L5hU
— Tradeweb (@Tradeweb) December 5, 2022
Tradeweb’s performance in November reflects the
undulating turnover volumes the operator has been recording since July. In
July, the operator’s total trading volume declined
-16% to $22 trillion, then grew
by 6% to $23.4 trillion in August and further shot up by 7.3% to
$25.1 trillion in September. However, in October, Tradeweb lost this
two-month gain, relapsing
to $21.3 trillion before returning a gain
last month (November).
Market-by-Market Analysis
In the rates market, the ADV of trades in US
government bonds rose by 7% from $128.1 billion in October to $137 billion last
month. However, the daily average dropped by -5.2% YoY. On the contrary, daily
average trades in European government bonds went down -9% MoM and -1% YoY to
$34.3 billion.
In the credit market, the ADV of fully
electronic US credit rose by 4.5% MoM and 16.6% YoY to $4.6 billion while the European credit ADV jumped 6% to $1.8 billion but dropped -3.6% YoY. On the other hand, credit derivatives in this market slumped -33% to $15.9 billion, down from $10.7
billion in the prior month. Regardless, on a year-over-year basis, the November
credit derivatives daily average represents an 8.4% increase.
In the equities market, the daily average volume
of US exchange-traded funds dropped -13% to $6.7 billion but climbed 21.3% YoY.
In the same vein, the European ETF ADV shot up 10% MoM to $2.3 billion but
declined -6.3% YoY.
In the money markets, the ADV of repurchase
agreements increased by 6% MoM and 13.6% YoY to $395.6 billion, up from $373.3
billion in the prior month.
“[In November], we continued to help our clients
navigate a complex macroeconomic backdrop, including evolving central bank
policy, sustained elevated volatility, economic concerns and a strong U.S.
dollar (USD),” Tradeweb noted in a press statement.
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