Tradeweb Markets reported total trading volume of $67.5tn for July 2026, with average daily volume rising 23.3 per cent year on year to $2.9tn.

The electronic trading platform, listed on Nasdaq, recorded particularly strong growth in derivatives, with swaps and swaptions of one year or longer up 45.3 per cent to $564.5bn in average daily volume. Total rates derivatives volume rose 49.9 per cent to $1.2tn daily.

The company attributed the derivatives growth to reactions to global central bank policy, geopolitical tensions affecting energy prices and inflation concerns. Compression activity, which generates lower fees, increased 55 per cent year on year.

US government bond trading averaged $258bn daily, up 26.1 per cent, while European government bond volume rose 20.8 per cent to $61.4bn. Mortgage-related trading increased 7.3 per cent to $241.4bn.

In credit markets, fully electronic US credit trading rose 15.7 per cent to $9.4bn daily. Tradeweb captured 18.8 per cent of fully electronic US high-grade corporate bond trading as measured by TRACE data. Credit derivatives doubled year on year to $21.1bn daily, driven by hedge fund and systematic account activity.

Exchange-traded fund volumes showed strong growth, with US ETF trading up 50.6 per cent to $11.4bn daily and international ETF volume rising 31.3 per cent to $4bn.

Repo trading averaged $832.9bn daily, up 7.2 per cent, supported by the effects of the Federal Reserve’s balance sheet reduction and ongoing geopolitical uncertainty in Europe.

Municipal bond trading fell 7.7 per cent to $456m daily, broadly in line with the wider market decline.