Tradeweb has released its send quarter financial results, reporting $297.1 million in quarterly revenues, up 13.9% compared to prior year period, and US$1.2 trillion average daily volume (ADV) for the quarter, an increase of 20.4% compared to prior year period, with record ADV in swaps/swaptions ≥ 1-year; fully electronic US investment grade; municipal bonds and repurchase agreements.
Lee Olesky, chairman and CEO at Tradeweb Markets, commented, “Tradeweb delivered another quarter of robust year-over-year revenue growth thanks to strong contributions from multiple asset classes, showcasing our differentiated and diversified business model. While complex macroeconomic conditions and continued rates volatility made for challenging global markets, we saw increased adoption and engagement with a range of trading protocols. Institutional and wholesale clients continued to be active this quarter, and a surge in retail trading volumes was led by municipal bonds and US Treasuries.
The firm has also engaged in projects to support diversity in the market, with its Spotlight Dealer Diversity Program, developed with input from the dealer and buy-side communities to promote diverse dealers on the Tradeweb platform, launched in June.
“More recently, we were delighted to announce that Thomas Pluta will succeed Billy Hult as president of Tradeweb when Billy succeeds me as CEO on January 1, 2023,” said Olesky. “We remain sharply focused on collaborating with clients through challenging markets and positioning Tradeweb for continued growth.”
