Tradeweb posts $69.7T in June volume, ADV up 29.5% YoY

Tradeweb Markets Inc. (Nasdaq: TW) reported total trading volume of $69.7 trillion for June 2026, with average daily volume (ADV) of $3.2 trillion, a 29.5% increase year-over-year, according to a company press release.

For the second quarter of 2026, total trading volume reached $194.2 trillion, with ADV of $3.0 trillion, up 18.2% year-over-year. Preliminary average variable fees per million dollars of volume traded were $2.141, and total preliminary fixed fees for rates, credit, equities and money markets were $98.6 million.

The company reported record ADV in U.S. ETFs for June, with U.S. ETF ADV up 83.0% year-over-year to $14.1 billion. International ETF ADV rose 38.9% year-over-year to $4.5 billion.

In rates, swaps/swaptions ADV of one year or greater rose 45.8% year-over-year to $721.6 billion, while total rates derivatives ADV increased 58.9% year-over-year to $1.3 trillion. U.S. government bond ADV rose 20.3% year-over-year to $269.0 billion, and European government bond ADV increased 21.0% year-over-year to $67.3 billion.

In credit, fully electronic U.S. credit ADV rose 29.3% year-over-year to $10.5 billion, while European credit ADV increased 37.5% year-over-year to $3.5 billion. Credit derivatives ADV climbed 62.3% year-over-year to $19.5 billion. Municipal bond ADV declined 9.5% year-over-year to $448 million, in line with a broader market decline of 9.3%.

Repo ADV increased 14.8% year-over-year to $874.2 billion. For the second quarter, Tradeweb reported records in ADV for rates futures, fully electronic U.S. high yield credit, convertibles/swaps/options, and repurchase agreements.

CEO Billy Hult said the results marked the company's "third-best revenue month on record," citing growth in its international client base and increased adoption of its automated trading tool, Tradeweb AiEX.

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