Tradeweb Markets Inc. announced record total trading volume for September 2024, reaching $56.1 trillion. The average daily volume (ADV) for the month was a record $2.63 trillion, marking a substantial 68.3% increase year-over-year.
For the third quarter of 2024, Tradeweb achieved a record total trading volume of $147.5 trillion, with average daily volume climbing to a record $2.21 trillion, up 55.3% year-over-year. Preliminary average variable fees per million dollars of volume traded for the quarter stood at $2.29.
CEO Billy Hult highlighted that the third quarter was the company's best ever, with record volumes in multiple asset classes, driven by strong organic growth and contributions from recent acquisitions including Yieldbroker, r8fin, and ICD. Excluding the impact of the ICD acquisition, September ADV was up 50.3% year-over-year, and Q3 ADV was up 42.7% year-over-year.
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