While swap execution facilities are still in an early stage of development, there is some evidence that trading activity is picking up, with Tradeweb Markets has seen more than a 20-fold increase in average daily trading volume on TW SEF (swap exchange facility) for interest rate swaps (IRS) during the first two weeks of September compared to its first two weeks of trading last October.
The average daily trading volume has now increased to more than $20 billion, and the number of clients trading derivatives on Tradeweb has also grown over 400% to over 110 institutional clients.
“SEF trading has absolutely exploded on platforms like Tradeweb since they launched less than a year ago,” says Lee Olesky, CEO of Tradeweb Markets. “Market share for electronic trading of interest rate derivatives has increased from less than ten percent of overall volume before SEFs to about half of all IRS trades today.”
Tradeweb's SEF Grows Over 20-Fold Since Opening
Tradeweb Markets has seen more than a 20-fold increase in average daily trading volume on TW SEF (swap exchange facility) for interest rate swaps (IRS) during the first two weeks of September compared to its first two weeks of trading last October.
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