Tradeweb tops $100 trillion in trading volumes

Year-to-date trading volumes at Tradeweb surpassed the $100 trillion mark in September, topping its overall trading volume last year.

Tradeweb’s total trading volumes have hit $100 trillion so far this year, already surpassing its full-year volumes for all of 2017.

The electronic trading platform provider has said that it also set a new record for trade volumes in September, with activity year-on-year and month-on-month increased in nearly all products on the platform.

Average daily volume for Tradeweb was $592 billion in rates, credit, money markets and equities in September this year, up 27.5% compared to the prior year, and up 19.5% compared to August. At the same time, average daily trades totalled 42,639 in September.

Tradeweb said this is the highest monthly volume it has ever recorded, after stating in August that it was on track for a record year in fixed, derivatives and exchange-traded funds (ETFs).

A record was also set in US high-grade credit, where average daily volume at Tradeweb surpassed $2 billion per day in September, and electronic volumes in high-grade credit represented 3.8% of volume reported via TRACE for the month. Rates derivatives also surged 40% year-on-year due to growth in trading on its swap execution facility and strong activity on its multilateral trading facility (MTF).

The fixed income and derivatives electronic trading specialist has had a busy year after confirming plans to branch out into cash equities in May as part of a new partnership with Plato.

Both firms are developing a block trading platform that allows traders to aggregate and source broker principal risk to provide the buy-side with more control over orders and the opportunity to match and negotiate trades on a regulated venue.   

More recently, Tradeweb launched a new platform with its request-for-quote (RFQ) functionality for US equity options. The client-to-dealer trading platform was designed to improve access to liquidity in the growing US options market.