Securities finance regional news | Repo ADV climbs 39.4% YoY for April, says Tradeweb

Repo average daily volume traded on the Tradeweb platform increased 39.4 per cent year-over-year to US$598.2 billion for April 2024.

A rise in client adoption of Tradeweb’s electronic repo trading platform drove record global repo activity for the month.

This was also impacted by quantitative tightening, increased collateral supply, and current rates market activity, whereby more assets were moved from the Federal Reserve’s reverse repo facility to money markets.

The global operator of electronic marketplaces for rates, credit, equities and money markets reports that the ADV across all asset classes for the month of April reached a record US$1.94 trillion, an increase of 69.1 per cent YoY.

US government bond ADV was up 70.7 per cent YoY to US$205.3 billion. European government bond ADV was also on the rise by 23.9 per cent to US$45.6 billion.

For swaps and swaptions, ADV climbed 118.9 per cent YoY for April to US$475.7 billion. Total rates derivatives ADV also increased, rising 127.8 per cent YoY to US$796.0 billion.

In credit markets, fully electronic US credit ADV was up 96.1 per cent YoY to US$8.0 billion, while European credit ADV was up 19.4 per cent YoY to US$2.3 billion.

US credit volumes reflected continued client adoption across Tradeweb protocols, the US-based firm says, including request-for-quote (RFQ), portfolio trading and Tradeweb AllTrade.

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