Tradeweb Reports Record June Trading Volumes Amid Broad-Based Market Momentum — Tradeweb Markets Inc.

Event summary

Tradeweb reported $69.7 trillion in total trading volume for June 2026, with an average daily volume (ADV) of $3.2 trillion, up 29.5% year-over-year.
Second-quarter 2026 ADV was $3.0 trillion, an 18.2% YoY increase, with preliminary average variable fees per million dollars of volume traded at $2.141 and total fixed fees of $98.6 million.
Key growth areas included U.S. government bonds (+20.3% YoY), European government bonds (+21.0% YoY), and swaps/swaptions (≥ 1-year) ADV up 45.8% YoY to $721.6 billion.
U.S. ETF ADV surged 83.0% YoY to $14.1 billion, while international ETF ADV rose 38.9% YoY to $4.5 billion.

The big picture

Tradeweb's strong June performance underscores the ongoing shift toward electronic trading across asset classes, driven by institutional and wholesale activity. The company's diversified platform and all-weather model position it well to capitalize on market electronification trends, though fee pressures from lower-margin products like compression activity and portfolio trading remain a watchpoint.

What we're watching

Electronification Pace: How the accelerating adoption of Tradeweb AiEX will impact trading workflows and fee structures across asset classes.
Market Volatility: Whether fluctuating global central bank policies and geopolitical uncertainty will sustain elevated swaps/swaptions activity.
International Expansion: The pace at which Tradeweb can expand its international client base amid diverse trading protocols and regulatory environments.