Tradeweb Reports YTD Activity08.07.2018
Tradeweb posted its Monthly Activity Report for July, which captures fixed income, derivatives and ETF trading volume on the platform for the first 7 months of the year.
Most noteworthy trends include:
- Strong Year Shaping Up for Trading Firms: Through July of 2018, year-to-date trading volume on the Tradeweb platform is up 40%, putting the firm on pace for a record year of trading activity in 2018.
- Derivatives Post Strongest Growth: A great deal of this growth is being driven by activity in rates derivatives, which have seen their July 2018 average daily volumes (ADV) increase 158.4% year-over-year.
- Credit & Equities Derivatives Volumes Climb: Global equity derivatives ADV is up 351.55% and global credit derivatives volume is also up 80.16% year-over-year on the Tradeweb platform.
- Retail Trading Activity Shows Shift to Shorter Maturities: Corporate and municipal debt trading activity executed by financial advisors and RIAs has shifted to shorter maturities, with 26% of ADV now focused on 1-3 year maturity securities, up from 21% a year ago.
- World Cup/Mid-Week U.S. Independence Day Slow July Monthly Volumes: While year-to-date volumes continue to surge, monthly volumes for July did slow vs. June totals. The slow-down was most pronounced in the first half of the month, which was punctuated by a mid-week Independence Day holiday in the U.S. and eight mid-week World Cup games. As evidence of the estimated impact, ADV of U.S. Treasuries rose 15.6% and U.S. High-Grade Credit increased 46.6% on Tradeweb platforms in the second half of July.
The full Tradeweb Monthly Activity Report for July 2018 is available here.
Stephanie Dumont and Ola Persson of FINRA reflect on advances in fixed income transparency.
Investors lack confidence in fixed income data and believe only half is really reliable.
The consortium is creating the first open market electronic trading platform for syndicated loans and CLOs.
Buy-side users can access Tradeweb’s RFQ process while strengthening relationships with diverse dealers.
The Treasury is soliciting public feedback on additional post-trade data transparency.