Tradeweb Markets Inc. (NASDAQ: TW) shares gained sharply Thursday. The company, a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today reported total trading volume for the month of November 2024 of $48.8 trillion. Average daily volume (ADV) for the month was $2.35tn, an increase of 30.5 percent (%) year-over-year (YoY). Excluding the impact of the ICD acquisition, which closed on August 1, 2024, total ADV for the month of November was up 14.9% YoY.
In November 2024, Tradeweb records included:
• ADV in U.S. government bonds
• ADV in global repurchase agreements
November 2024 Highlights
RATES
• U.S. government bond ADV was up 50.3% YoY to $246.0 billion (bn). European government bond ADV was up 18.7% YoY to $53.1bn.
• Record U.S. government bond activity was driven by record institutional and wholesale volumes. European government bond volumes were driven by an increased number of clients trading on the platform and increased client adoption of our diverse trading protocols, as well as heightened market volatility amid the U.S. election and French political uncertainties.
• Mortgage ADV was up 22.5% YoY to $230.6bn.
• To-Be-Announced (TBA) activity remained healthy YoY despite declining macro volatility. Volumes transacted on Tradeweb’s specified pool platform continued to grow, driven by a record number of clients executing on the platform.
TW shares climbed $4.77, or 3.6%, to $139.14.
