Record Trading at Tradeweb: A Triumph of Transactions

Tradeweb reports an impressive trading volume of $56.1 trillion for September 2024, up from $50.9 trillion in August. The average daily volume (ADV) reached $2.63 trillion this month, compared to $2.21 trillion in August, marking a remarkable year-over-year increase of 68.3%. In the third quarter, Tradeweb recorded a total volume of $147.5 trillion, with an ADV of $2.21 trillion. This reflects an annual increase of 55.3%. The preliminary average variable fees per million dollars traded amounted to $2.29. Excluding the impact of the ICD acquisition completed on August 1, ADV increased by 50.3% year-over-year in September, while ADV in the third quarter rose by 42.7%. According to CEO Billy Hult, it was "our best quarter ever with record volumes across multiple asset classes." In September, the average daily volume (ADV) for U.S. Treasuries rose by 59.8% year-over-year to $232.2 billion. In contrast, European government bonds recorded an ADV increase of 16.7% to $49.5 billion.