Tradeweb Markets reports February trading volume $50.3T, ADV up 33% to $2.49T

Tradeweb Markets (TW) reported total trading volume for the month of February 2025 of $50.3T. Average daily volume ADV for the month was $2.49T , an increase of 33.1% year-over-year. Excluding the impact of the ICD acquisition, which closed on August 1 total ADV for the month of February was up 18.2% YoY. In February 2025, Tradeweb records included: ADV in U.S. government bonds ADV in fully electronic U.S. high yield credit ADV in European credit February 2025 Highlights : U.S. government bond ADV was up 21.3% YoY to $252.2 B . European government bond ADV was up 12.7% YoY to $57.4B. U.S. and European government bond activity remained strong in February. Record U.S. Treasuries ADV was led by record activity across the institutional and wholesale client channels, while European government bond ADV was driven by strong volumes across our institutional client channel. A diverse set of clients continued to trade on the platform, with growing adoption across a wide range of trading protocols. Mortgage ADV was up 21.0% YoY to $227.7B.