{"success":true,"data":{"pressRelease":{"id":"81903","rtpr_id":"nBw1jGWhza","ticker":"TW","exchange":"NASDAQ","all_tickers":["TW"],"title":"Tradeweb Reports June 2026 Total Trading Volume of $69.7 Trillion and Average Daily Volume of $3.2 Trillion","author":"Business Wire","published_at":"2026-07-07T11:30:00.351Z","article_body":"Tradeweb Reports June 2026 Total Trading Volume of $69.7 Trillion and Average\nDaily Volume of $3.2 Trillion\n\nJune 2026 ADV up 29.5% YoY\n\nSecond Quarter 2026 ADV up 18.2% YoY\n\nTradeweb Markets Inc. (Nasdaq: TW), a global leader in electronic trading\nacross asset classes, today reported total trading volume for the month of\nJune 2026 of $69.7 trillion (tn). Average daily volume (\"ADV\") for the month\nwas $3.2tn, an increase of 29.5 percent (%) year-over-year (\"YoY\"). For the\nsecond quarter of 2026, total trading volume was $194.2tn and ADV was $3.0tn,\nan increase of 18.2% YoY, with preliminary average variable fees per million\ndollars of volume traded of $2.14(1) and total preliminary fixed fees for\nrates, credit, equities and money markets of $98.6 million (mm)(1).\n\nTradeweb CEO Billy Hult said: \"Tradeweb delivered strong year-over-year volume\ngrowth in June, marking our third-best revenue month on record, and wrapping\nup a quarter of broad-based momentum across our global business. Three key\nthemes stood out during the month: the performance of our all-weather model\neven as volatility moderated; strong volume growth in our international client\nbase; and the accelerating adoption of Tradeweb AiEX, as clients continue to\nembed automation deeper into every stage of their trading workflows. Together,\nthese themes underscore the diversification of our platform and the long-term\ntrajectory toward greater electronification across markets.\"\n\nRecord Highlights:\n\nFor June of 2026, Tradeweb records included:\n\n\n * ADV in U.S. ETFs\n\nFor the second quarter of 2026, Tradeweb records included:\n\n\n * ADV in rates futures\n\n * ADV in fully electronic U.S. high yield credit\n\n * ADV in convertibles/swaps/options\n\n * ADV in repurchase agreements\n\nJune 2026 Highlights\n\nRATES\n\n\n * U.S. government bond ADV was up 20.3% YoY to $269.0 billion (bn). European\ngovernment bond ADV was up 21.0% YoY to $67.3bn.\n\n\n* Strong U.S. government bond ADV was driven by strong institutional and\nwholesale activity. Similarly, European government bond ADV was driven by\nstrong volumes in our institutional client channel. Strong activity in the\nU.S. and Europe was supported by an increased number of clients trading across\na diverse set of trading protocols.\n\n\n\n\n * Mortgage ADV was up 13.5% YoY to $257.1bn.\n\n\n* To-Be-Announced (\"TBA\") activity was primarily driven by increased trading\nYoY\nfrom asset managers and hedge funds, alongside strong contributions from\ngovernment sponsored enterprises, banks and mortgage originators. Tradeweb's\nspecified pool platform posted its second-highest monthly ADV on record and\nmatched an all-time high in dealer participation, reflecting continued\nmomentum in client adoption and an expanding dealer roster.\n\n\n\n\n * Swaps/swaptions ≥ 1-year ADV was up 45.8% YoY to $721.6bn and total rates\nderivatives ADV was up 58.9% YoY to $1.3tn.\n\n\n* Swaps/swaptions ≥ 1-year saw stronger risk trading activity YoY driven by\nfluctuating global central bank policy expectations and evolving geopolitical\nuncertainty contributing to the eventual energy price normalization. This was\nsupported by a 38% YoY increase in compression activity, which carries a\nrelatively lower fee per million (\"FPM\"). 2Q26 compression activity as a\npercentage of swaps/swaptions ≥ 1-year was higher than 1Q26.\n\n\n\n\nCREDIT\n\n\n * Fully electronic U.S. credit ADV was up 29.3% YoY to $10.5bn and European\ncredit ADV was up 37.5% YoY to $3.5bn.\n\n\n* U.S. credit volumes were driven by continued client adoption of trading\nprotocols, most notably in Request-for-Quote (\"RFQ\"), Portfolio Trading\n(\"PT\"), and Tradeweb AllTrade®. Tradeweb captured 20.2% share of fully\nelectronic U.S. high grade TRACE and 8.4% share of U.S. high yield TRACE, as\nmeasured by Tradeweb. We also reported 26.9% total share of U.S. high grade\nTRACE and 10.6% total share of U.S. high yield TRACE. European credit volumes\nwere driven by a diverse set of protocols, particularly PT and Tradeweb\nAutomated Intelligent Execution (AiEX), both of which achieved records in\nJune. Global cash credit PT ADV increased by 51.6% YoY, with non-comp PT(2)\nADV up 66.8% YoY. PT carries a relatively lower FPM as compared to the broader\ncash credit average, with non-comp PT carrying a lower FPM than PT overall.\n\n\n\n\n * Municipal bonds ADV was down 9.5% YoY to $448mm.\n\n\n* Municipal bond volumes performed in line with the broader market which was\ndown 9.3%(3) YoY.\n\n\n\n\n * Credit derivatives ADV was up 62.3% YoY to $19.5bn.\n\n\n* Increased hedge fund and systematic account activity YoY led to increased\nswap\nexecution facility (\"SEF\") and multilateral trading facility (\"MTF\") credit\ndefault swaps activity.\n\n\n\n\nEQUITIES\n\n\n * Record U.S. ETF ADV was up 83.0% YoY to $14.1bn and International ETF ADV was\nup 38.9% YoY to $4.5bn.\n\n\n* Stronger global ETF volumes YoY were driven by robust activity in our\ninstitutional and wholesale channels, as the client base grew and clients'\nadoption of our automated trading functionality continued to grow YoY.\n\n\n\n\nMONEY MARKETS\n\n\n * Repo ADV was up 14.8% YoY to $874.2bn.\n\n\n* Strong global repo ADV was supported by increased client participation\nacross\nthe platform YoY. In the U.S., strong growth was driven by the effects of the\nFed’s balance sheet unwind. Additionally, balances in the Fed’s reverse\nrepo facility (\"RRP\") remained close to zero for the majority of the month,\nwith a small spike at month end. In Europe, despite Bank of England's steady\npolicy rate, we saw continued strong growth driven by high collateral demand\nand shifting European Central Bank policy rates.\n\n\n\n\n * Other Money Markets ADV was up 1.0% YoY to $278.5bn.\n\n\n* Other money markets ADV was driven by Tradeweb ICD Portal activity from both\nexisting and new client additions. This was partially offset by less client\ndemand for commercial paper and discount notes YoY. \n\n\n\n\nPlease refer to the report posted to\nhttps://www.tradeweb.com/newsroom/monthly-activity-reports/\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.tradeweb.com%2Fnewsroom%2Fmonthly-activity-reports%2F&esheet=54566172&newsitemid=20260707520693&lan=en-US&anchor=https%3A%2F%2Fwww.tradeweb.com%2Fnewsroom%2Fmonthly-activity-reports%2F&index=1&md5=6f8d90c1ab785775479e0a1a59455eba)\nfor complete information and data related to our historical monthly, quarterly\nand yearly ADV and total trading volume across asset classes.\n\nAbout Tradeweb Markets\n\nTradeweb Markets Inc. (Nasdaq: TW) is a leading, global operator of electronic\nmarketplaces for rates, credit, equities and money markets. Founded in 1996,\nTradeweb provides access to markets, data and analytics, electronic trading,\nstraight-through-processing and reporting for more than 50 products to clients\nin the institutional, wholesale, retail and corporates markets. Advanced\ntechnologies developed by Tradeweb enhance price discovery, order execution\nand trade workflows while allowing for greater scale and helping to reduce\nrisks in client trading operations. Tradeweb serves more than 3,000 clients in\nmore than 85 countries. On average, Tradeweb facilitated more than $2.9\ntrillion in notional value traded per day over the past four fiscal quarters.\nFor more information, please go to www.tradeweb.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.tradeweb.com%2F&esheet=54566172&newsitemid=20260707520693&lan=en-US&anchor=www.tradeweb.com&index=2&md5=57082899dd50e5c5335c78db95577050)\n.\n\nBasis of Presentation\n\nAll reported amounts are presented in U.S. dollars, unless otherwise\nindicated. In determining the reported U.S. dollar amounts for non-U.S. dollar\ndenominated securities, the non-U.S. dollar amount for a particular month is\ntranslated into U.S. dollars generally based on the monthly average foreign\nexchange rate for the prior month. Volumes presented in this release exclude\nvolumes generated by (i) unbilled trial agreements, (ii) products billed on an\nagreement basis where we do not calculate notional value, and (iii) products\nthat are not rates, credit, equities or money markets products. Please see the\nfootnotes on page 3 of the full report for information regarding how we\ncalculate market share amounts presented in this release.\n\nAmounts for preliminary average variable fees per million dollars of volume\ntraded and preliminary fixed fees for rates, credit, equities and money\nmarkets included in this release and in the related report are subject to the\ncompletion of management’s final review and our other financial closing\nprocedures and therefore are subject to change.\n\nBeginning with the publication of the December 2024 Monthly Activity Report,\nTradeweb adjusted its methodology for reflecting acquisitions in its reported\naverage daily volume figures. For average daily volume derived from\nacquisitions, the denominator is now the number of trading days that have\nelapsed from the acquisition date to the end date of the reporting period, and\nnot the total number of trading days in the reporting period, which was the\nprevious methodology. Beginning in December 2024, this methodology was applied\nretroactively to restate the impact of both 2024 acquisitions; the average\ndaily volume attributable to acquisitions occurring prior to 2024 was not\nrestated.\n\nDay counts generally reflect all SIFMA trading days, where applicable. As\nrecommended by SIFMA, Good Friday, April 3, 2026 was an official trading day\nfor U.S. Fixed Income markets. However, due to holiday-abbreviated hours\n(markets closed at 12:00 PM EDT) and limited trading activity, we have\nexcluded April 3, 2026 as a trading day for all U.S. products. All trading\nvolume from that day is included in April 2026 monthly totals.\n\nMarket and Industry Data\n\nThis release and the complete report include estimates regarding market and\nindustry data that we prepared based on our management’s knowledge and\nexperience in the markets in which we operate, together with information\nobtained from various sources, including publicly available information,\nindustry reports and publications, surveys, our clients, trade and business\norganizations and other contacts in the markets in which we operate. In\npresenting this information, we have made certain assumptions that we believe\nto be reasonable based on such data and other similar sources and on our\nknowledge of, and our experience to date in, the markets in which we operate.\nWhile such information is believed to be reliable for the purposes used\nherein, no representations are made as to the accuracy or completeness thereof\nand we take no responsibility for such information.\n\nForward-Looking Statements\n\nThis release contains forward-looking statements within the meaning of the\nfederal securities laws. Statements related to, among other things, our\noutlook and future performance, the industry and markets in which we operate,\nour expectations, beliefs, plans, strategies, objectives, prospects and\nassumptions and future events are forward-looking statements.\n\nWe have based these forward-looking statements on our current expectations,\nassumptions, estimates and projections. While we believe these expectations,\nassumptions, estimates and projections are reasonable, such forward-looking\nstatements are only predictions and involve known and unknown risks and\nuncertainties, many of which are beyond our control. These and other important\nfactors, including those discussed under the heading “Risk Factors” in the\ndocuments of Tradeweb Markets Inc. on file with or furnished to the SEC, may\ncause our actual results, performance or achievements to differ materially\nfrom those expressed or implied by these forward-looking statements. In\nparticular, preliminary average variable fees per million dollars of volume\ntraded and preliminary fixed fees for rates, credit, equities and money\nmarkets are subject to the completion of management’s final review and our\nother financial closing procedures and therefore are subject to change. Given\nthese risks and uncertainties, you are cautioned not to place undue reliance\non such forward-looking statements. The forward-looking statements contained\nin this release are not guarantees of future events or performance and future\nevents, our actual results of operations, financial condition or liquidity,\nand the development of the industry and markets in which we operate, may\ndiffer materially from the forward-looking statements contained in this\nrelease. In addition, even if future events, our results of operations,\nfinancial condition or liquidity, and events in the industry and markets in\nwhich we operate, are consistent with the forward-looking statements contained\nin this release, they may not be predictive of events, results or developments\nin future periods.\n\nAny forward-looking statement that we make in this release speaks only as of\nthe date of such statement. Except as required by law, we do not undertake any\nobligation to update or revise, or to publicly announce any update or revision\nto, any of the forward-looking statements, whether as a result of new\ninformation, future events or otherwise, after the date of this release.\n\n(1) See pg. 7 of the report available at\nhttps://www.tradeweb.com/newsroom/monthly-activity-reports/\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.tradeweb.com%2Fnewsroom%2Fmonthly-activity-reports%2F&esheet=54566172&newsitemid=20260707520693&lan=en-US&anchor=https%3A%2F%2Fwww.tradeweb.com%2Fnewsroom%2Fmonthly-activity-reports%2F&index=3&md5=7019ffea087e63f92eb992a166657d24)\nfor the detailed breakdown of preliminary average variable fees per million\ndollars of volume traded for each underlying asset class, as well as\npreliminary fixed fees by asset class.\n\n(2) Non-comp PT defined as a portfolio trade sent to a single dealer.\n\n(3) Based on data from MSRB.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260707520693/en/\n(https://www.businesswire.com/news/home/20260707520693/en/)\n\nMedia contacts:\n\nDaniel Noonan, Tradeweb\n\n+1 646 767 4677\n\nDaniel.Noonan@Tradeweb.com \n(mailto:Daniel.Noonan@Tradeweb.com) \n\n\nSavannah Steele, Tradeweb\n\n+1 646 767 4941\n\nSavannah.Steele@Tradeweb.com \n(mailto:Savannah.Steele@Tradeweb.com) \n\n\nEloise Doolan, Tradeweb\n\n+1 347 930 3055\n\nEloise.Doolan@Tradeweb.com \n(mailto:Eloise.Doolan@Tradeweb.com) \n\n\nInvestor contacts:\n\nAshley Serrao, Tradeweb\n\n+1 646 430 6027\n\nAshley.Serrao@Tradeweb.com \n(mailto:Ashley.Serrao@Tradeweb.com) \n\n\nSameer Murukutla, Tradeweb\n\n+1 646 767 4864\n\nSameer.Murukutla@Tradeweb.com (mailto:sameer.murukutla@tradeweb.com)\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw1jGWhza","title":"Tradeweb Reports June 2026 Total Trading Volume of $69.7 Trillion and Average Daily Volume of $3.2 Trillion","author":"Business Wire","ticker":"TW","created":"2026-07-07T11:30:00.351Z","tickers":["TW"],"exchange":"NASDAQ","article_body":"Tradeweb Reports June 2026 Total Trading Volume of $69.7 Trillion and Average\nDaily Volume of $3.2 Trillion\n\nJune 2026 ADV up 29.5% YoY\n\nSecond Quarter 2026 ADV up 18.2% YoY\n\nTradeweb Markets Inc. (Nasdaq: TW), a global leader in electronic trading\nacross asset classes, today reported total trading volume for the month of\nJune 2026 of $69.7 trillion (tn). Average daily volume (\"ADV\") for the month\nwas $3.2tn, an increase of 29.5 percent (%) year-over-year (\"YoY\"). For the\nsecond quarter of 2026, total trading volume was $194.2tn and ADV was $3.0tn,\nan increase of 18.2% YoY, with preliminary average variable fees per million\ndollars of volume traded of $2.14(1) and total preliminary fixed fees for\nrates, credit, equities and money markets of $98.6 million (mm)(1).\n\nTradeweb CEO Billy Hult said: \"Tradeweb delivered strong year-over-year volume\ngrowth in June, marking our third-best revenue month on record, and wrapping\nup a quarter of broad-based momentum across our global business. Three key\nthemes stood out during the month: the performance of our all-weather model\neven as volatility moderated; strong volume growth in our international client\nbase; and the accelerating adoption of Tradeweb AiEX, as clients continue to\nembed automation deeper into every stage of their trading workflows. Together,\nthese themes underscore the diversification of our platform and the long-term\ntrajectory toward greater electronification across markets.\"\n\nRecord Highlights:\n\nFor June of 2026, Tradeweb records included:\n\n\n * ADV in U.S. ETFs\n\nFor the second quarter of 2026, Tradeweb records included:\n\n\n * ADV in rates futures\n\n * ADV in fully electronic U.S. high yield credit\n\n * ADV in convertibles/swaps/options\n\n * ADV in repurchase agreements\n\nJune 2026 Highlights\n\nRATES\n\n\n * U.S. government bond ADV was up 20.3% YoY to $269.0 billion (bn). European\ngovernment bond ADV was up 21.0% YoY to $67.3bn.\n\n\n* Strong U.S. government bond ADV was driven by strong institutional and\nwholesale activity. Similarly, European government bond ADV was driven by\nstrong volumes in our institutional client channel. Strong activity in the\nU.S. and Europe was supported by an increased number of clients trading across\na diverse set of trading protocols.\n\n\n\n\n * Mortgage ADV was up 13.5% YoY to $257.1bn.\n\n\n* To-Be-Announced (\"TBA\") activity was primarily driven by increased trading\nYoY\nfrom asset managers and hedge funds, alongside strong contributions from\ngovernment sponsored enterprises, banks and mortgage originators. Tradeweb's\nspecified pool platform posted its second-highest monthly ADV on record and\nmatched an all-time high in dealer participation, reflecting continued\nmomentum in client adoption and an expanding dealer roster.\n\n\n\n\n * Swaps/swaptions ≥ 1-year ADV was up 45.8% YoY to $721.6bn and total rates\nderivatives ADV was up 58.9% YoY to $1.3tn.\n\n\n* Swaps/swaptions ≥ 1-year saw stronger risk trading activity YoY driven by\nfluctuating global central bank policy expectations and evolving geopolitical\nuncertainty contributing to the eventual energy price normalization. This was\nsupported by a 38% YoY increase in compression activity, which carries a\nrelatively lower fee per million (\"FPM\"). 2Q26 compression activity as a\npercentage of swaps/swaptions ≥ 1-year was higher than 1Q26.\n\n\n\n\nCREDIT\n\n\n * Fully electronic U.S. credit ADV was up 29.3% YoY to $10.5bn and European\ncredit ADV was up 37.5% YoY to $3.5bn.\n\n\n* U.S. credit volumes were driven by continued client adoption of trading\nprotocols, most notably in Request-for-Quote (\"RFQ\"), Portfolio Trading\n(\"PT\"), and Tradeweb AllTrade®. Tradeweb captured 20.2% share of fully\nelectronic U.S. high grade TRACE and 8.4% share of U.S. high yield TRACE, as\nmeasured by Tradeweb. We also reported 26.9% total share of U.S. high grade\nTRACE and 10.6% total share of U.S. high yield TRACE. European credit volumes\nwere driven by a diverse set of protocols, particularly PT and Tradeweb\nAutomated Intelligent Execution (AiEX), both of which achieved records in\nJune. Global cash credit PT ADV increased by 51.6% YoY, with non-comp PT(2)\nADV up 66.8% YoY. PT carries a relatively lower FPM as compared to the broader\ncash credit average, with non-comp PT carrying a lower FPM than PT overall.\n\n\n\n\n * Municipal bonds ADV was down 9.5% YoY to $448mm.\n\n\n* Municipal bond volumes performed in line with the broader market which was\ndown 9.3%(3) YoY.\n\n\n\n\n * Credit derivatives ADV was up 62.3% YoY to $19.5bn.\n\n\n* Increased hedge fund and systematic account activity YoY led to increased\nswap\nexecution facility (\"SEF\") and multilateral trading facility (\"MTF\") credit\ndefault swaps activity.\n\n\n\n\nEQUITIES\n\n\n * Record U.S. ETF ADV was up 83.0% YoY to $14.1bn and International ETF ADV was\nup 38.9% YoY to $4.5bn.\n\n\n* Stronger global ETF volumes YoY were driven by robust activity in our\ninstitutional and wholesale channels, as the client base grew and clients'\nadoption of our automated trading functionality continued to grow YoY.\n\n\n\n\nMONEY MARKETS\n\n\n * Repo ADV was up 14.8% YoY to $874.2bn.\n\n\n* Strong global repo ADV was supported by increased client participation\nacross\nthe platform YoY. In the U.S., strong growth was driven by the effects of the\nFed’s balance sheet unwind. Additionally, balances in the Fed’s reverse\nrepo facility (\"RRP\") remained close to zero for the majority of the month,\nwith a small spike at month end. In Europe, despite Bank of England's steady\npolicy rate, we saw continued strong growth driven by high collateral demand\nand shifting European Central Bank policy rates.\n\n\n\n\n * Other Money Markets ADV was up 1.0% YoY to $278.5bn.\n\n\n* Other money markets ADV was driven by Tradeweb ICD Portal activity from both\nexisting and new client additions. This was partially offset by less client\ndemand for commercial paper and discount notes YoY. \n\n\n\n\nPlease refer to the report posted to\nhttps://www.tradeweb.com/newsroom/monthly-activity-reports/\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.tradeweb.com%2Fnewsroom%2Fmonthly-activity-reports%2F&esheet=54566172&newsitemid=20260707520693&lan=en-US&anchor=https%3A%2F%2Fwww.tradeweb.com%2Fnewsroom%2Fmonthly-activity-reports%2F&index=1&md5=6f8d90c1ab785775479e0a1a59455eba)\nfor complete information and data related to our historical monthly, quarterly\nand yearly ADV and total trading volume across asset classes.\n\nAbout Tradeweb Markets\n\nTradeweb Markets Inc. (Nasdaq: TW) is a leading, global operator of electronic\nmarketplaces for rates, credit, equities and money markets. Founded in 1996,\nTradeweb provides access to markets, data and analytics, electronic trading,\nstraight-through-processing and reporting for more than 50 products to clients\nin the institutional, wholesale, retail and corporates markets. Advanced\ntechnologies developed by Tradeweb enhance price discovery, order execution\nand trade workflows while allowing for greater scale and helping to reduce\nrisks in client trading operations. Tradeweb serves more than 3,000 clients in\nmore than 85 countries. On average, Tradeweb facilitated more than $2.9\ntrillion in notional value traded per day over the past four fiscal quarters.\nFor more information, please go to www.tradeweb.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.tradeweb.com%2F&esheet=54566172&newsitemid=20260707520693&lan=en-US&anchor=www.tradeweb.com&index=2&md5=57082899dd50e5c5335c78db95577050)\n.\n\nBasis of Presentation\n\nAll reported amounts are presented in U.S. dollars, unless otherwise\nindicated. In determining the reported U.S. dollar amounts for non-U.S. dollar\ndenominated securities, the non-U.S. dollar amount for a particular month is\ntranslated into U.S. dollars generally based on the monthly average foreign\nexchange rate for the prior month. Volumes presented in this release exclude\nvolumes generated by (i) unbilled trial agreements, (ii) products billed on an\nagreement basis where we do not calculate notional value, and (iii) products\nthat are not rates, credit, equities or money markets products. Please see the\nfootnotes on page 3 of the full report for information regarding how we\ncalculate market share amounts presented in this release.\n\nAmounts for preliminary average variable fees per million dollars of volume\ntraded and preliminary fixed fees for rates, credit, equities and money\nmarkets included in this release and in the related report are subject to the\ncompletion of management’s final review and our other financial closing\nprocedures and therefore are subject to change.\n\nBeginning with the publication of the December 2024 Monthly Activity Report,\nTradeweb adjusted its methodology for reflecting acquisitions in its reported\naverage daily volume figures. For average daily volume derived from\nacquisitions, the denominator is now the number of trading days that have\nelapsed from the acquisition date to the end date of the reporting period, and\nnot the total number of trading days in the reporting period, which was the\nprevious methodology. Beginning in December 2024, this methodology was applied\nretroactively to restate the impact of both 2024 acquisitions; the average\ndaily volume attributable to acquisitions occurring prior to 2024 was not\nrestated.\n\nDay counts generally reflect all SIFMA trading days, where applicable. As\nrecommended by SIFMA, Good Friday, April 3, 2026 was an official trading day\nfor U.S. Fixed Income markets. However, due to holiday-abbreviated hours\n(markets closed at 12:00 PM EDT) and limited trading activity, we have\nexcluded April 3, 2026 as a trading day for all U.S. products. All trading\nvolume from that day is included in April 2026 monthly totals.\n\nMarket and Industry Data\n\nThis release and the complete report include estimates regarding market and\nindustry data that we prepared based on our management’s knowledge and\nexperience in the markets in which we operate, together with information\nobtained from various sources, including publicly available information,\nindustry reports and publications, surveys, our clients, trade and business\norganizations and other contacts in the markets in which we operate. In\npresenting this information, we have made certain assumptions that we believe\nto be reasonable based on such data and other similar sources and on our\nknowledge of, and our experience to date in, the markets in which we operate.\nWhile such information is believed to be reliable for the purposes used\nherein, no representations are made as to the accuracy or completeness thereof\nand we take no responsibility for such information.\n\nForward-Looking Statements\n\nThis release contains forward-looking statements within the meaning of the\nfederal securities laws. Statements related to, among other things, our\noutlook and future performance, the industry and markets in which we operate,\nour expectations, beliefs, plans, strategies, objectives, prospects and\nassumptions and future events are forward-looking statements.\n\nWe have based these forward-looking statements on our current expectations,\nassumptions, estimates and projections. While we believe these expectations,\nassumptions, estimates and projections are reasonable, such forward-looking\nstatements are only predictions and involve known and unknown risks and\nuncertainties, many of which are beyond our control. These and other important\nfactors, including those discussed under the heading “Risk Factors” in the\ndocuments of Tradeweb Markets Inc. on file with or furnished to the SEC, may\ncause our actual results, performance or achievements to differ materially\nfrom those expressed or implied by these forward-looking statements. In\nparticular, preliminary average variable fees per million dollars of volume\ntraded and preliminary fixed fees for rates, credit, equities and money\nmarkets are subject to the completion of management’s final review and our\nother financial closing procedures and therefore are subject to change. Given\nthese risks and uncertainties, you are cautioned not to place undue reliance\non such forward-looking statements. The forward-looking statements contained\nin this release are not guarantees of future events or performance and future\nevents, our actual results of operations, financial condition or liquidity,\nand the development of the industry and markets in which we operate, may\ndiffer materially from the forward-looking statements contained in this\nrelease. In addition, even if future events, our results of operations,\nfinancial condition or liquidity, and events in the industry and markets in\nwhich we operate, are consistent with the forward-looking statements contained\nin this release, they may not be predictive of events, results or developments\nin future periods.\n\nAny forward-looking statement that we make in this release speaks only as of\nthe date of such statement. Except as required by law, we do not undertake any\nobligation to update or revise, or to publicly announce any update or revision\nto, any of the forward-looking statements, whether as a result of new\ninformation, future events or otherwise, after the date of this release.\n\n(1) See pg. 7 of the report available at\nhttps://www.tradeweb.com/newsroom/monthly-activity-reports/\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.tradeweb.com%2Fnewsroom%2Fmonthly-activity-reports%2F&esheet=54566172&newsitemid=20260707520693&lan=en-US&anchor=https%3A%2F%2Fwww.tradeweb.com%2Fnewsroom%2Fmonthly-activity-reports%2F&index=3&md5=7019ffea087e63f92eb992a166657d24)\nfor the detailed breakdown of preliminary average variable fees per million\ndollars of volume traded for each underlying asset class, as well as\npreliminary fixed fees by asset class.\n\n(2) Non-comp PT defined as a portfolio trade sent to a single dealer.\n\n(3) Based on data from MSRB.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260707520693/en/\n(https://www.businesswire.com/news/home/20260707520693/en/)\n\nMedia contacts:\n\nDaniel Noonan, Tradeweb\n\n+1 646 767 4677\n\nDaniel.Noonan@Tradeweb.com \n(mailto:Daniel.Noonan@Tradeweb.com) \n\n\nSavannah Steele, Tradeweb\n\n+1 646 767 4941\n\nSavannah.Steele@Tradeweb.com \n(mailto:Savannah.Steele@Tradeweb.com) \n\n\nEloise Doolan, Tradeweb\n\n+1 347 930 3055\n\nEloise.Doolan@Tradeweb.com \n(mailto:Eloise.Doolan@Tradeweb.com) \n\n\nInvestor contacts:\n\nAshley Serrao, Tradeweb\n\n+1 646 430 6027\n\nAshley.Serrao@Tradeweb.com \n(mailto:Ashley.Serrao@Tradeweb.com) \n\n\nSameer Murukutla, Tradeweb\n\n+1 646 767 4864\n\nSameer.Murukutla@Tradeweb.com (mailto:sameer.murukutla@tradeweb.com)\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-07-07T11:30:00.409019253Z","server_sent_at_ms":1783423800409},"received_at":"2026-07-07T11:30:00.521Z","source_url":"https://www.businesswire.com/news/home/20260707520693/en/"},"analysis":{"id":"71020","press_release_id":"81903","analysis_json":{"industry":{"label":"Software","sector":"Information Technology"},"redFlags":[],"eventType":"operations_update","narrative":"Tradeweb reported June 2026 total trading volume of $69.7 trillion, with average daily volume (ADV) of $3.2 trillion, representing a 29.5% year-over-year increase.\n\nFor the second quarter of 2026, total volume reached $194.2 trillion with ADV of $3.0 trillion, up 18.2% YoY. Preliminary fixed fees for the quarter were $98.6 million, and average variable fees were $2.14 per million dollars traded.\n\nCEO Billy Hult noted that June was the company's third-best revenue month on record, driven by strong growth in institutional and wholesale channels, particularly in ETFs (up 83% YoY) and rates derivatives (up 58.9% YoY).","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Tradeweb posts record-breaking volume growth with June ADV up 29.5% YoY, signaling strong tailwinds in electronic trading adoption."},"keyFigures":{"eps":0,"epsBeat":0,"revenue":0,"drugName":"","guidance":"","revenueYoy":0,"dealValueUsd":0,"phaseOfTrial":"","offeringPrice":0,"sharesOffered":0,"customDimensions":{"q2_adv":"$3.0 trillion","june_adv":"$3.2 trillion","repo_adv":"$874.2 billion","q2_adv_yoy":"18.2%","us_etf_adv":"$14.1 billion","int_etf_adv":"$4.5 billion","june_adv_yoy":"29.5%","mortgage_adv":"$257.1 billion","repo_adv_yoy":"14.8%","us_credit_adv":"$10.5 billion","us_etf_adv_yoy":"83.0%","euro_credit_adv":"$3.5 billion","int_etf_adv_yoy":"38.9%","q2_total_volume":"$194.2 trillion","us_gov_bond_adv":"$269.0 billion","mortgage_adv_yoy":"13.5%","euro_gov_bond_adv":"$67.3 billion","june_total_volume":"$69.7 trillion","us_credit_adv_yoy":"29.3%","euro_credit_adv_yoy":"37.5%","swaps_swaptions_adv":"$721.6 billion","us_gov_bond_adv_yoy":"20.3%","euro_gov_bond_adv_yoy":"21.0%","credit_derivatives_adv":"$19.5 billion","swaps_swaptions_adv_yoy":"45.8%","q2_preliminary_fixed_fees":"$98.6 million","credit_derivatives_adv_yoy":"62.3%","total_rates_derivatives_adv":"$1.3 trillion","total_rates_derivatives_adv_yoy":"58.9%","q2_avg_variable_fees_per_million":"$2.14"}},"quotedText":"Tradeweb delivered strong year-over-year volume growth in June, marking our third-best revenue month on record, and wrapping up a quarter of broad-based momentum across our global business.","namedEntities":{"people":[{"name":"Billy Hult","role":"CEO"},{"name":"Daniel Noonan","role":"Media Contact"},{"name":"Savannah Steele","role":"Media Contact"},{"name":"Eloise Doolan","role":"Media Contact"},{"name":"Ashley Serrao","role":"Investor Contact"},{"name":"Sameer Murukutla","role":"Investor Contact"}],"products":["Tradeweb AiEX","Tradeweb AllTrade","Tradeweb ICD Portal","specified pool platform"],"companies":[{"name":"Tradeweb Markets Inc.","ticker":"TW","relationship":"filer"}],"dollarAmounts":[{"amount":"$69.7 trillion","context":"June 2026 total trading volume"},{"amount":"$3.2 trillion","context":"June 2026 average daily volume"},{"amount":"$194.2 trillion","context":"Q2 2026 total trading volume"},{"amount":"$3.0 trillion","context":"Q2 2026 average daily volume"},{"amount":"$2.14","context":"Q2 2026 preliminary average variable fees per million dollars"},{"amount":"$98.6 million","context":"Q2 2026 preliminary fixed fees"},{"amount":"$269.0 billion","context":"June 2026 U.S. government bond ADV"},{"amount":"$67.3 billion","context":"June 2026 European government bond ADV"},{"amount":"$257.1 billion","context":"June 2026 Mortgage ADV"},{"amount":"$721.6 billion","context":"June 2026 Swaps/swaptions >= 1-year ADV"},{"amount":"$1.3 trillion","context":"June 2026 total rates derivatives ADV"},{"amount":"$10.5 billion","context":"June 2026 Fully electronic U.S. credit ADV"},{"amount":"$3.5 billion","context":"June 2026 European credit ADV"},{"amount":"$448 million","context":"June 2026 Municipal bonds ADV"},{"amount":"$19.5 billion","context":"June 2026 Credit derivatives ADV"},{"amount":"$14.1 billion","context":"June 2026 U.S. ETF ADV"},{"amount":"$4.5 billion","context":"June 2026 International ETF ADV"},{"amount":"$874.2 billion","context":"June 2026 Repo ADV"},{"amount":"$278.5 billion","context":"June 2026 Other Money Markets ADV"}]},"materialImpact":{"score":3,"reasoning":"Strong operational momentum with June ADV up 29.5% YoY and Q2 ADV up 18.2% YoY. The release highlights record volumes in key asset classes (ETFs, rates futures) and explicitly notes June was the third-best revenue month on record, signaling strong top-line growth."},"tickerRelevance":{"others":[],"primary":"TW"},"globalImportance":45,"audienceRelevance":50,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"strong_operational_growth","sectorWeight":"high","householdBrandBoost":"low","marketCapAdjustment":"neutral","retailFavoriteBoost":"low"}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"bullish","material_impact_score":3,"narrative":"Tradeweb reported June 2026 total trading volume of $69.7 trillion, with average daily volume (ADV) of $3.2 trillion, representing a 29.5% year-over-year increase.\n\nFor the second quarter of 2026, total volume reached $194.2 trillion with ADV of $3.0 trillion, up 18.2% YoY. Preliminary fixed fees for the quarter were $98.6 million, and average variable fees were $2.14 per million dollars traded.\n\nCEO Billy Hult noted that June was the company's third-best revenue month on record, driven by strong growth in institutional and wholesale channels, particularly in ETFs (up 83% YoY) and rates derivatives (up 58.9% YoY).","key_figures":{"eps":0,"epsBeat":0,"revenue":0,"drugName":"","guidance":"","revenueYoy":0,"dealValueUsd":0,"phaseOfTrial":"","offeringPrice":0,"sharesOffered":0,"customDimensions":{"q2_adv":"$3.0 trillion","june_adv":"$3.2 trillion","repo_adv":"$874.2 billion","q2_adv_yoy":"18.2%","us_etf_adv":"$14.1 billion","int_etf_adv":"$4.5 billion","june_adv_yoy":"29.5%","mortgage_adv":"$257.1 billion","repo_adv_yoy":"14.8%","us_credit_adv":"$10.5 billion","us_etf_adv_yoy":"83.0%","euro_credit_adv":"$3.5 billion","int_etf_adv_yoy":"38.9%","q2_total_volume":"$194.2 trillion","us_gov_bond_adv":"$269.0 billion","mortgage_adv_yoy":"13.5%","euro_gov_bond_adv":"$67.3 billion","june_total_volume":"$69.7 trillion","us_credit_adv_yoy":"29.3%","euro_credit_adv_yoy":"37.5%","swaps_swaptions_adv":"$721.6 billion","us_gov_bond_adv_yoy":"20.3%","euro_gov_bond_adv_yoy":"21.0%","credit_derivatives_adv":"$19.5 billion","swaps_swaptions_adv_yoy":"45.8%","q2_preliminary_fixed_fees":"$98.6 million","credit_derivatives_adv_yoy":"62.3%","total_rates_derivatives_adv":"$1.3 trillion","total_rates_derivatives_adv_yoy":"58.9%","q2_avg_variable_fees_per_million":"$2.14"}},"named_entities":{"people":[{"name":"Billy Hult","role":"CEO"},{"name":"Daniel Noonan","role":"Media Contact"},{"name":"Savannah Steele","role":"Media Contact"},{"name":"Eloise Doolan","role":"Media Contact"},{"name":"Ashley Serrao","role":"Investor Contact"},{"name":"Sameer Murukutla","role":"Investor Contact"}],"products":["Tradeweb AiEX","Tradeweb AllTrade","Tradeweb ICD Portal","specified pool platform"],"companies":[{"name":"Tradeweb Markets Inc.","ticker":"TW","relationship":"filer"}],"dollarAmounts":[{"amount":"$69.7 trillion","context":"June 2026 total trading volume"},{"amount":"$3.2 trillion","context":"June 2026 average daily volume"},{"amount":"$194.2 trillion","context":"Q2 2026 total trading volume"},{"amount":"$3.0 trillion","context":"Q2 2026 average daily volume"},{"amount":"$2.14","context":"Q2 2026 preliminary average variable fees per million dollars"},{"amount":"$98.6 million","context":"Q2 2026 preliminary fixed fees"},{"amount":"$269.0 billion","context":"June 2026 U.S. government bond ADV"},{"amount":"$67.3 billion","context":"June 2026 European government bond ADV"},{"amount":"$257.1 billion","context":"June 2026 Mortgage ADV"},{"amount":"$721.6 billion","context":"June 2026 Swaps/swaptions >= 1-year ADV"},{"amount":"$1.3 trillion","context":"June 2026 total rates derivatives ADV"},{"amount":"$10.5 billion","context":"June 2026 Fully electronic U.S. credit ADV"},{"amount":"$3.5 billion","context":"June 2026 European credit ADV"},{"amount":"$448 million","context":"June 2026 Municipal bonds ADV"},{"amount":"$19.5 billion","context":"June 2026 Credit derivatives ADV"},{"amount":"$14.1 billion","context":"June 2026 U.S. ETF ADV"},{"amount":"$4.5 billion","context":"June 2026 International ETF ADV"},{"amount":"$874.2 billion","context":"June 2026 Repo ADV"},{"amount":"$278.5 billion","context":"June 2026 Other Money Markets ADV"}]},"model_name":"qwen3_6_27b_awq","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-07-07T15:20:22.545Z","global_importance":45,"audience_relevance":50,"importance_components":{"tickerTier":"mid-cap","eventGravity":"strong_operational_growth","sectorWeight":"high","householdBrandBoost":"low","marketCapAdjustment":"neutral","retailFavoriteBoost":"low"}},"durationMs":128509,"modelName":"george-droid-qwen-72b"}}