Repo ADV climbs 28.2% YoY for April, says Tradeweb
06 May 2025 US
Image: AITTHIPHONG/stock.adobe.com
Repo average daily volume (ADV) traded on the Tradeweb platform increased 28.2 per cent year-over-year (YoY) to US$766.7 billion for April.
The record global repo trading activity was supported by increased client participation across the platform.
In the US, growth was driven by the lasting effects of the Fed鈥檚 balance sheet unwind, combined with balances still remaining relatively low at the reverse repo facility.
While in Europe, volumes and market activity continued to grow and were primarily driven by volatility caused by the current geopolitical landscape, according to Tradeweb.
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 US$2.7 trillion, up 38.6 per cent YoY.
US government bond ADV was up 41.5 per cent YoY to US$290.4 billion. European government bond ADV grew 29.1 per cent to US$58.9 billion.
For swaps and swaptions, ADV climbed 10.1 per cent YoY for the month to US$523.8 billion. Total rates derivatives ADV also increased, rising 22.1 per cent YoY to US$971.9 billion.
In credit markets, fully electronic US credit ADV was up 9.2 per cent YoY to US$8.8 billion, while European credit ADV grew 18.4 per cent YoY to US$2.7 billion.
The record global repo trading activity was supported by increased client participation across the platform.
In the US, growth was driven by the lasting effects of the Fed鈥檚 balance sheet unwind, combined with balances still remaining relatively low at the reverse repo facility.
While in Europe, volumes and market activity continued to grow and were primarily driven by volatility caused by the current geopolitical landscape, according to Tradeweb.
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 US$2.7 trillion, up 38.6 per cent YoY.
US government bond ADV was up 41.5 per cent YoY to US$290.4 billion. European government bond ADV grew 29.1 per cent to US$58.9 billion.
For swaps and swaptions, ADV climbed 10.1 per cent YoY for the month to US$523.8 billion. Total rates derivatives ADV also increased, rising 22.1 per cent YoY to US$971.9 billion.
In credit markets, fully electronic US credit ADV was up 9.2 per cent YoY to US$8.8 billion, while European credit ADV grew 18.4 per cent YoY to US$2.7 billion.
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