Tradeweb reports December average daily volume $1.46T up 43.3% YoY

Tradeweb Markets reported total trading volume for the month of December 2023 of $28.9 T. Average daily volume or ADV for the month was $1.46tn, an increase of 43.3% year-over-year YoY . For the fourth quarter of 2023, total trading volume was $104.4tn and ADV was $1.68tn, an increase of 56.9% YoY, with preliminary average variable fees per million dollars of volume traded of $2.54. Billy Hult, Tradeweb CEO, said: “Historic interest rate moves, geopolitical uncertainty and ongoing market volatility helped drive a 2023 resurgence in fixed income. Despite a challenging start to the year, we reported a 27.6% YoY increase in average daily volume for the full year and broke numerous volume records across rates, credit, equities and money markets. The fourth quarter was particularly strong in rates, and in December we reported a record 18.2% share of fully electronic U.S. High Grade TRACE for the month.”