Tradeweb Markets Inc. reported total trading volume for June 2025 of $52.0 trillion, with average daily volume (ADV) reaching $2.4 trillion, an increase of 25.9% year-over-year. For the second quarter of 2025, total trading volume was a record $165.3 trillion, and ADV was a record $2.6 trillion, up 32.7% year-over-year.
Preliminary average variable fees per million dollars of volume traded for Q2 2025 stood at $2.30, with total preliminary fixed fees for rates, credit, equities, and money markets of $93.8 million. Excluding the impact of the ICD acquisition, June ADV was up 13.0% year-over-year.
CEO Billy Hult noted that Tradeweb closed out the second quarter with a solid performance, reflecting increased client engagement of electronic trading amidst elevated market activity and volatility. This performance demonstrates the continued stickiness and resilience of electronic trading as a core strategy for clients.
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