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<p class="MsoNormal">Tradeweb Markets, a NASDAQ-listed operator of electronic marketplaces for rates, credit, equities and money markets, saw a reversal in its two-month growth in October 2022. The operator's total trading volume for October came in at $21.3 trillion, which is a -15% decline month-over-month (MoM) from <a href="https://www.financemagnates.com/institutional-forex/tradeweb-sees-2-month-volume-growth-posts-251-trillion-in-september/">the $25.1 trillion posted</a> in September. </p><blockquote class="twitter-tweet"><p dir="ltr" lang="en">Today we reported total October 2022 trading volume of $21.3tn and average daily volume of $1.05tn. Read more here: <a href="https://t.co/8yOd9tQBzO">https://t.co/8yOd9tQBzO</a> <a href="https://t.co/E4KIqMQTyE">pic.twitter.com/E4KIqMQTyE</a></p>-- Tradeweb (@Tradeweb) <a href="https://twitter.com/Tradeweb/status/1588135635000430594?ref_src=twsrc%5Etfw">November 3, 2022</a></blockquote><p class="MsoNormal">Earlier in July, Tradeweb's total monthly volume <a href="https://www.financemagnates.com/institutional-forex/tradewebs-trading-volumes-drop-16-mom-in-july-to-22-trillion/">dropped -16%</a> from $26.1 trillion in June to $22 trillion. However, the volume <a href="https://www.financemagnates.com/institutional-forex/tradewebs-trading-volume-increases-by-6-to-234-trillion-in-august/">rose 6%</a> to $23.4 trillion in August and improved further by 7.3% in September before relapsing below its July performance.  </p><p class="MsoNormal">Furthermore, the operator's average daily volume (ADV) in October 2022 slumped -by 12% MoM and -16.5% year-over-year (YoY) to $1.05 trillion. The ADV reached $1.20 trillion in September. </p><p class="MsoNormal">In contrast, Tradweb recently reported <a href="https://www.financemagnates.com/institutional-forex/tradeweb-markets-q3-revenue-jumps-82-ceo-lee-olesky-to-retire/">an 8.2% increase</a> in its revenue for the third quarter of 2022. The numbers came in at $287.1 million. The electronic marketplaces operator also said it saw a record ADV during the quarter. </p><p class="MsoNormal">Market Breakdown </p><p class="MsoNormal">Finance Magnates' analysis of the figures shared by Tradeweb shows that Tradeweb experienced mixed growth across all its markets. </p><p class="MsoNormal">In the rates market, the US  government bond ADV dropped -0.9% MoM to $128.1 billion and sank further by -14% YoY. The same thing happened to the European government bond which came in at $37.8 billion in October, representing a -9% MoM slump but a 4.2% YoY growth. </p><p class="MsoNormal">"U.S. government bond activity was lower YoY, as industry volumes declined. While U.S. government bond activity in institutional markets was modestly lower, we saw a record in average daily trades, up 61.2% YoY," Tradeweb explained.</p><p class="MsoNormal">Unlike the rates market, the credit market recorded some growth. The fully electronic US credit's ADV improved 5% MoM and 15.2% YoY to $4.4 billion in October. However, the ADV of the European credit remained flat, returning $1.7 billion in October just like it did in September. On a year-over-year basis, nonetheless, this represents -an 8.6% drop in the daily average. Also in the rates market, municipal bonds in the credit market posted an impressive 20% MoM and 147% YoY growth in their daily average volumes. In contrast, Tradeweb's credit derivates ADV collapsed -57%MoM to $15.9 billion but improved 39.3% YoY.</p><p class="MsoNormal">In the <a href="https://www.financemagnates.com/terms/e/equities/" target="_blank" id="d6e02698-4c6b-44dd-ab57-9ff12763325c_2" class="terms__main-term">equities</a> market,  Tradweb's exchange-traded funds (ETFs) posted a marginal 1.3% MoM ADV growth but got a better 55.4% YoY boost in daily average. This is as the US EFT ADV came in at $7.7 billion in October. In contrast, the operator's European ETF ADV declined -12.5% MoM and -6.8% YoY to $2.1 billion, which is down from $2.4 billion in September. </p><p class="MsoNormal">In the money market, the ADV of repurchase agreements (repos) traded on Tradeweb decreased -2.1% MoM to $373.3 billion, which is down from $381.2 billion in September. However, on a YoY basis the repo ADV jumped 13.6%. </p><p class="MsoNormal">"Continued client adoption of Tradeweb's electronic trading solutions drove Global Repo activity, despite significant <a href="https://www.financemagnates.com/terms/v/volatility/" target="_blank" id="7fd330d9-8855-4c31-9770-cb52b328c117_1" class="terms__secondary-term">volatility</a> in money markets and sustained elevated usage of the Federal Reserve's reverse repo facility. Retail money markets activity reached a record high as rates continued to rise," Tradeweb explained. </p>

This article was written by Solomon Oladipupo at www.financemagnates.com.