Tradeweb reports 7.8% increase YoY in repo ADV for November
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Tradeweb reports 7.8% increase YoY in repo ADV for November 08 December 2022US Reporter: Carmella Haswell
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Repo average daily volume traded on Tradeweb climbed 7.8 per cent year-over-year for November, generating US$395.6 billion.
Global repo activity was driven by continued client adoption of Tradeweb鈥檚 electronic trading solutions, despite significant volatility in money markets and sustained elevated usage of the Federal Reserve鈥檚 reverse repo facility.
Retail money markets activity reached a record high as rates continued to rise, according to Tradeweb.
The US-based provider of electronic trading for rates, credit, equities and money markets reports that the ADV for November 2022 fell 3.7 per cent YoY to US$1.13 trillion.
US government bond ADV also declined 5.2 per cent YoY to US$137.0 billion, while European government bond ADV was down 1.0 per cent to US$34.3 billion.
Tradeweb highlights that US government bond activity was lower YoY, as industry volumes declined. Whereas strong European government bond trading was driven by heightened rates market volatility.
For swaps and swaptions, the average daily trading volume for November was down 10.6 per cent to US$208.6 billion, when compared to the previous year. Total rates derivatives ADV also declined 13.8 per cent to US$341.8 billion.
In credit markets, fully electronic US credit ADV increased 16.6 per cent YoY to US$4.6 billion, while European credit ADV was down 3.6 per cent to US$1.8 billion.
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