Repo ADV rises 4.4% for September, reports Tradeweb
06 October 2026 US
Image: Suparto/stock.adobe.com
Repo average daily volume (ADV) traded on the Tradeweb platform saw a rise of 4.4 per cent year-on-year (YoY) to US$847.3 billion for September.
According to the firm, the strong global repo ADV was supported by increased client participation across the platform YoY.
In the US, growth was driven by higher outstanding US Treasury balances compared to September 2025.
Additionally, balances in the Federal Reserve's reverse repo facility (RRP) remained close to zero for most of the month
In Europe, repo markets proved highly resilient, with activity underpinned by robust collateral demand and repriced interest rate expectations after the European Central Bank鈥檚 September rate tightening.
The firm reports that ADV across all asset classes for the month of September reached US$3.7 trillion, up 29 per cent YoY.
US government bond ADV climbed 29 per cent YoY to US$309.8 billion, while European government bond ADV hiked 29.2 per cent YoY to US$81.4 billion.
For swaps and swaptions, ADV was up 51.2 per cent YoY for the month to US$924 billion. Total rates derivatives ADV also increased, up 62.7 per cent YoY to US$1.8 trillion.
In credit markets, fully electronic US credit ADV rose by 29.7 per cent YoY to US$11.1 billion, while European credit ADV jumped 10.8 per cent YoY to US$3.2 billion.
According to the firm, the strong global repo ADV was supported by increased client participation across the platform YoY.
In the US, growth was driven by higher outstanding US Treasury balances compared to September 2025.
Additionally, balances in the Federal Reserve's reverse repo facility (RRP) remained close to zero for most of the month
In Europe, repo markets proved highly resilient, with activity underpinned by robust collateral demand and repriced interest rate expectations after the European Central Bank鈥檚 September rate tightening.
The firm reports that ADV across all asset classes for the month of September reached US$3.7 trillion, up 29 per cent YoY.
US government bond ADV climbed 29 per cent YoY to US$309.8 billion, while European government bond ADV hiked 29.2 per cent YoY to US$81.4 billion.
For swaps and swaptions, ADV was up 51.2 per cent YoY for the month to US$924 billion. Total rates derivatives ADV also increased, up 62.7 per cent YoY to US$1.8 trillion.
In credit markets, fully electronic US credit ADV rose by 29.7 per cent YoY to US$11.1 billion, while European credit ADV jumped 10.8 per cent YoY to US$3.2 billion.
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