Activity on the Tradeweb European ETF marketplace soared to a record-breaking EUR25.9 billion in October, beating February’s previous best performance by EUR 1.9 billion.
During the month, the proportion of transactions processed via Tradeweb’s Automated Intelligent Execution (AiEX) tool exceeded 45 per cent, a new monthly record and significantly up from September’s 39.2 per cent figure.
Adriano Pace, head of equities (Europe) at Tradeweb, says: “We saw ETF volumes reach new heights in October, a month that will be remembered for the surge in market volatility, notably affecting US stocks. Despite the market stress, our platform metrics remained strong, and clients were able to unlock liquidity and efficiently execute their orders.”
Total consolidated US ETF notional value traded in October 2018 meanwhile, rose by a huge 273 per cent year over the year to USD 17.4 billion. Total volume traded year to date of USD81.5 billion has already exceeded full-year 2017 volume of USD 55.2 billion by 47.6 per cent.
“Our prediction in September that the fourth quarter of 2018 would be busy certainly came to fruition – notional value traded this month almost tripled year over year,” says Adam Gould, Head of US Equities at Tradeweb. “The rising rates and declining equities of ‘Red October’ were reflected real-time by robust US ETF Trading on Tradeweb, which experienced an outsized concentration in equity focused-fund activity. Throughout, our systems performed efficiently and resiliently, facilitating a number of large single trades.”
