Tradeweb Markets Inc Reports Record Trading Volume of $56.1 Trillion in September 2024
In a groundbreaking development, Tradeweb Markets Inc. (NASDAQ: NASDAQ:) has achieved a record total trading volume of $56.1 trillion in September 2024, with an average daily volume (ADV) hitting a record $2.63 trillion. This remarkable performance represents a significant year-over-year increase of 68.3%. The third quarter of 2024 also saw record figures, with a total trading volume of $147.5 trillion and an ADV of $2.21 trillion, up 55.3% from the previous year.
CEO Billy Hult attributes this outstanding performance to strong organic growth and contributions from recent acquisitions like Yieldbroker, r8fin, and ICD. Tradeweb has witnessed substantial volume increases in various asset classes, particularly in U.S. government bonds and fully electronic U.S. high-grade credit.
In the rates category, U.S. government bond ADV surged 59.8% year-over-year to $232.2 billion, while European government bond ADV grew by 16.7% to $49.5 billion. Mortgage ADV rose 32.3% to $240.2 billion, influenced by market volatility and a crucial Federal Reserve meeting in September. Swaps and swaptions saw a 73.1% increase in ADV to $576.3 billion, with total rates derivatives ADV up 79.1% to $1.02 trillion.
Credit markets also experienced robust growth, with fully electronic U.S. credit ADV up 77.0% to $8.6 billion and European credit ADV increasing by 27.9% to $2.7 billion. U.S. credit volumes benefitted from greater client adoption of trading protocols, while European credit volumes were buoyed by record European portfolio trading.
In conclusion, Tradeweb's record-breaking performance showcases its strong financial metrics and market position. With a focus on enhancing the client experience and maintaining its leading position in portfolio trading, Tradeweb is poised for continued success in the electronic marketplace sector. Analyzing the company's financial health and market performance can provide valuable insights for investors looking to capitalize on this growth trajectory.