Tradeweb September ADV rises 29% YoY to $3.7 trillion
TW•Tradeweb reported September average daily volume of $3.7 trillion, up 29% year over year, and third-quarter ADV of $3.2 trillion, up 22.4%. It repurchased 2 million Class A shares for $210 million in the quarter.
1. Trading volume and buybacks
Tradeweb reported September total trading volume of $81.6 trillion and ADV of $3.7 trillion, up 29% year over year. Third-quarter total volume was $210.3 trillion and ADV was $3.2 trillion, up 22.4%. Preliminary third-quarter average variable fees were $2.09 per $1 million traded, and preliminary fixed fees totaled $99.7 million. The company repurchased 2 million Class A shares for $210 million in the quarter; year-to-date buybacks totaled 4.4 million shares for $449 million.
2. September market segments
U.S. government bond ADV rose 29% to $309.8 billion, while total rates derivatives ADV increased 62.7% to $1.8 trillion.
