Tradeweb Markets reports record March trading volume of $87 trillion

Tradeweb Markets Inc. (NASDAQ: TW) reported record trading volume of $87 trillion for March 2026, with average daily volume reaching $3.8 trillion, representing a 41.8% increase year-over-year.

For the first quarter of 2026, total trading volume reached a record $214.3 trillion with average daily volume of $3.3 trillion, up 31.4% compared to the same period in 2025. The company reported preliminary average variable fees per million dollars of volume traded of $2.211 and total preliminary fixed fees for rates, credit, equities and money markets of $97 million.

The electronic trading platform achieved records across multiple asset classes in March, including U.S. government bonds with average daily volume of $310.1 billion, up 24.4% year-over-year, and European government bonds at $80.8 billion, up 27.4%.

Mortgage trading averaged $315.8 billion daily, representing a 34.3% increase. Swaps and swaptions with terms of one year or longer reached $949.8 billion in average daily volume, up 60.4%.

In credit markets, fully electronic U.S. credit averaged $10.7 billion daily, up 12.3%, while European credit reached $3.2 billion, up 3.2%. Credit derivatives trading averaged $96.2 billion daily, marking a 57.2% increase.

Equity exchange-traded fund trading showed strong growth, with U.S. ETF average daily volume of $13.8 billion, up 36.8%, and international ETF volume of $6.1 billion, up 48.5%.

Money market activity included repo trading at $859.1 billion average daily volume, up 15.9%, while other money markets averaged $297.2 billion, up 0.3%.

The company captured 17.6% market share of fully electronic U.S. high grade TRACE volume and 8.3% of U.S. high yield TRACE volume during the period.

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