Tradeweb Markets reported total trading volume for the month of March 2024 of $36.2 trillion. Average daily volume for the month was $1.81tn, an increase of 19.9 percent year-over-year. For the first quarter of 2024, total trading volume was $116.9tn and ADV was a record $1.90tn, an increase of 39.1% YoY, with preliminary average variable fees per million dollars of volume traded of $2.56. Tradeweb CEO Billy Hult said: “Our strong volumes across asset classes in March 2024 punctuated a record quarter for Tradeweb. Market volatility remained front and center for our clients, resulting in strong volumes and continued market share gains across our global asset classes. In the first quarter of 2024, in addition to record average daily volumes, we reported a record 17.6% share of fully electronic U.S. High-Grade TRACE, demonstrating the momentum we’ve built and sustained in credit. We are also encouraged to see our recent r8fin acquisition already making positive contributions to our Treasury volumes.”
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