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Tradeweb reports March 2024 ADV up 19.9 per cent YoY and first quarter 2024 ADV up 39.1 per cent YoY


Electronic marketplace operator Tradeweb Markets Inc has reported total trading volume for the month of March 2024 of USD36.2 trillion. Average daily volume (ADV) for the month was USD1.81trillion, an increase of 19.9 per cent year-over-year (YoY). 

For the first quarter of 2024, total trading volume was USD116.9 trillion and ADV was a record USD1.90 trillion, an increase of 39.1 per cent YoY, with preliminary average variable fees per million dollars of volume traded of USD2.56.

Tradeweb CEO Billy Hult says: “Our strong volumes across asset classes in March 2024 punctuated a record quarter for Tradeweb. Market volatility remained front and center for our clients, resulting in strong volumes and continued market share gains across our global asset classes. In the first quarter of 2024, in addition to record average daily volumes, we reported a record 17.6 per cent share of fully electronic U.S. High-Grade TRACE, demonstrating the momentum we’ve built and sustained in credit. We are also encouraged to see our recent r8fin acquisition already making positive contributions to our Treasury volumes.”

US ETF ADV was up 23.4 per cent YoY to USD10.5 billion and European ETF ADV was up 8.2 per cent YoY to USD3.0 billion.

Tradeweb writes that US and European institutional ETF volumes continued to grow as more clients embraced Tradeweb’s electronic RFQ protocol. US wholesale ETF volumes also continued to move higher as the customer base expanded.

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