Tradeweb Markets Inc. (NASDAQ: TW) shares lost ground first thing Friday. The company, a global leader in electronic trading across asset classes, today reported total trading volume for the month of August 2026 of $61.2 trillion (tn). Average daily volume for the month was $2.8tn, an increase of 13.7% year-over-year.
In August, U.S. government bond ADV was up 28.9% YoY to $282.5 billion (bn). European government bond ADV was up 22.2% YoY to $54.1bn.
This morning’s news release also reports U.S. government bond ADV was driven by robust institutional and wholesale activity. Similarly, European government bond ADV was driven by strong volumes in our institutional client channel. Activity in both the U.S. and Europe was supported by a growing number of clients trading across a diverse set of trading protocols.
Mortgage ADV was down 9.2% YoY to $210.7bn.
To-Be-Announced activity moderated YoY as long-end Treasury yields moved sharply higher, with the number of accounts trading broadly unchanged. Tradeweb's specified pool platform saw its third-highest monthly trade count on record supported by a 10% YoY increase in accounts trading.
Swaps/swaptions = 1-year ADV was up 27.3% YoY to $553.0bn and total rates derivatives ADV was up 21.0% YoY to $1.1tn.
Swaps/swaptions = 1-year saw stronger risk trading activity YoY, driven by shifting global central bank policy expectations and persistent uncertainty surrounding the inflation and economic growth outlook.
TW shares opened lower by 49 cents to $104.85
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