Tradeweb reports higher Q2 revenue and stronger electronic trading adoption
Tradeweb posted Q2 2026 revenue of $559 million, up 9%, citing stronger client activity and a risk-on backdrop with growth accelerating into June.
Management described the quarter as less reliant on volatility spikes, pointing instead to deeper client engagement and broader adoption of electronic trading.
International revenue rose 14%, contributing 65% of total growth, with gains across rates, credit, equities, and market data.
U.S. Treasuries share increased to 22.5%; institutional Treasuries revenue rose nearly 15%, supported by AiEX and momentum in basis and multi-leg trading.
Global swaps revenue rose 13% with total share at 24.1%; adjusted EBITDA margin was 54.4% as higher tech spending offset operating leverage.
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