The Tradeweb European-listed ETF marketplace defied the traditional summer slowdown in July, with average daily volumes (ADV) rising 55.2 per cent year-over-year and more than doubling since July 2017 to USD 1.5 billion per day.
Trading activity was consistent throughout the month, amid plunging negative yields and a reversal in interest rate expectations.
Tradeweb says the main drivers behind the platform’s ongoing growth include the quality and certainty of execution, the ability to trade in large-size, but also the increased adoption of innovative Tradeweb features, such as its Automated Intelligent Execution (AiEX) tool. During July, the proportion of automated transactions on Tradeweb climbed to 68%, a new monthly record.
The MiFID II tailwind has also been another growth factor, as it helped boost investor confidence in the depth of the European ETF market.