Repo ADV climbs 15.6% YoY for December, reports Tradeweb
08 January 2026 US
Image: Silhouette Media/stock.adobe.com
Repo average daily volume (ADV) traded on the Tradeweb platform climbed 15.6 per cent YoY to US$787.7 billion for December.
According to Tradeweb, record global repo trading activity was supported by increased client participation across the platform.
Additionally, balances in the Fed’s reverse repo facility (RRP) remained close to zero for the majority of the month.
In Europe, strong activity was driven primarily by dealers actively managing balance sheet and regulatory constraints into year-end, with funding levels remaining orderly.
The global operator of electronic marketplaces for rates, credit, equities, and money markets reports that ADV across all asset classes for the month of December reached US$2.8 trillion, up 27.5 per cent YoY.
US government bond ADV was up 5.7 per cent YoY to US$222.1 billion. European government bond ADV was up 46.5 per cent YoY to US$53.4 billion.
For swaps and swaptions, ADV was up 39.5 per cent YoY for the month to US$572.4 billion. Total rates derivatives ADV also increased, rising 64.5 per cent YoY to US$1.1 trillion.
In credit markets, fully electronic US credit ADV was up 8.1 per cent YoY to US$7.5 billion, while European credit ADV jumped 16.6 per cent YoY to US$2.1 billion.
According to Tradeweb, record global repo trading activity was supported by increased client participation across the platform.
Additionally, balances in the Fed’s reverse repo facility (RRP) remained close to zero for the majority of the month.
In Europe, strong activity was driven primarily by dealers actively managing balance sheet and regulatory constraints into year-end, with funding levels remaining orderly.
The global operator of electronic marketplaces for rates, credit, equities, and money markets reports that ADV across all asset classes for the month of December reached US$2.8 trillion, up 27.5 per cent YoY.
US government bond ADV was up 5.7 per cent YoY to US$222.1 billion. European government bond ADV was up 46.5 per cent YoY to US$53.4 billion.
For swaps and swaptions, ADV was up 39.5 per cent YoY for the month to US$572.4 billion. Total rates derivatives ADV also increased, rising 64.5 per cent YoY to US$1.1 trillion.
In credit markets, fully electronic US credit ADV was up 8.1 per cent YoY to US$7.5 billion, while European credit ADV jumped 16.6 per cent YoY to US$2.1 billion.
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