Tradeweb Markets reports June total trading volume $37.5tn, ADV $1.94tn

Tradeweb Markets reported total trading volume for the month of June 2024 of $37.5tn. Average daily volume or ADV for the month was $1.94tn, an increase of 40.9 percent year-over-year . For the second quarter of 2024, total trading volume was $121.0tn and ADV was $1.92tn, an increase of 48.3% YoY, with preliminary average variable fees per million dollars of volume traded of $2.43.2 Tradeweb CEO Billy Hult said: “Tradeweb in Q2 reported double digit, YoY volume growth in rates, credit, money markets and equities. We set new records for quarterly ADV in U.S. government bonds, fully electronic U.S. high yield and repo, as well as capturing record share of fully electronic U.S. high grade credit. The second quarter of 2024 culminated with a strong June, led by a 54% YoY increase in rates ADV and continued momentum in credit ADV – up 67% YoY. U.S. government bond ADV was up 50.8% YoY to $210.7 billion. European government bond ADV was up 17.4% YoY to $50.5bn. U.S. government bond volumes were supported by growth across all client sectors. Increased adoption across a range of protocols and favorable market conditions contributed to the increase in volume. …U.S. credit volumes were driven by increased client adoption, most notably in request-for-quote portfolio trading and Tradeweb AllTrade(R). Tradeweb captured 18.9% share of fully electronic U.S. high grade TRACE, and 8.1% share of fully electronic U.S. high yield TRACE. In Europe, portfolio trading and our unique dealer…