Tradeweb has published its January 2019 Monthly Activity Report, which captures trading activity in rates, credit, money markets and equities.
While growth was broad-based across all asset classes traded on the Tradeweb platform, some of the sharpest gains were noted in investment grade and high-yield U.S. credit, mortgage-backed securities, and Chinese bonds.
Key trends for the month include:
- Record January – Volumes Surge 20.7% Year-Over-Year: Average daily volume (ADV) for Tradeweb Markets was $624.5 billion across all products during the month of January, an increase of 20.7% year-over-year representing a new record for the platform.
- Investment Grade and High-Yield U.S. Credit Volumes Set New Record: ADV of $2.7 billion in U.S. investment grade corporate credit was up 59.9% year-over-year and ADV of $0.4 billion in U.S. high-yield corporate credit was up 44.6% year-over-year. Both were new records on Tradeweb, with the platform’s high-yield volume accounting for 11.1% of total TRACE volume industry-wide.
- Mortgage Volumes Post Best Month in Five Years: Mortgage trading on Tradeweb averaged $164.4 billion per day, up over 16.3% compared to January 2018, its best month in over five years.
- China Bond Market Activity Continues to Grow: Investor interest in Chinese markets continues apace on Tradeweb. ADV in Chinese bonds was $0.9 billion, an increase of 56.1% year-over-year.
- Repo Volume Sets Post-Crisis Record: ADV in Repurchase Agreements grew 23.6% year-over-year, topping $170 billion during the month of January, a post- financial crisis record.
- Rates Derivatives and European ETFs Continue to Grow: Rates derivatives trading volume grew 35.5% year-over-year in January while European ETF trading volume increased 36.4%.
The full Tradeweb Monthly Activity Report for January 2019 is available here: https://www.tradeweb.com/market_activity_reports/
