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Securities finance industry news | Tradeweb reports November increase in repo trading activity

Tradeweb, a global operator of electronic marketplaces for rates, credit, stocks and money markets, has reported an increase in repo trading activity for November 2021.

The average daily volume (ADV) of the repo was $367 billion, an increase of 11.1 percent for the month of November compared to November 2020.

The addition of new customers to the platform continued to support growth in global repo activity and retail money market activity continued to be under pressure from low interest rates.

In addition, US exchange-traded fund (ETF) ADV climbed 15.9 percent yoy to $5.5 billion. European ETF ADV fell 8.3 percent year-on-year to $2.5 billion.

Continued growth in institutional client activity contributed to higher volumes in the US, while lower overall market activity weighed on European ETF volumes.

Tradeweb has reported that the total trading volume for November 2021 was $24.2 trillion on electronic marketplaces for rates, credit, stocks and money markets.

In US credit trading, high-quality TRACE market share was a record 23.9 percent, of which 14.3 percent was handled entirely electronically. US high-yield TRACE market share was 10.6 percent, of which 7 percent was fully electronic.

Lee Olesky, CEO of Tradeweb, said: “November was the second busiest month ever for Tradeweb, extending our run of more than 12 consecutive months of year-over-year ADV growth. What’s encouraging about this momentum is the fact that much of our growth has come from tools and protocols that didn’t exist five years ago.

“With innovations such as portfolio trading for credit, direct streams for US Treasuries and RFM trading for swaps, we are building the future of electronic markets with our clients.”

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