October 4, 2018 / 9:50 AM / 14 days ago

September a record volume month for bond, derivatives trading: Tradeweb

LONDON, Oct 4 (Reuters) - Trading of fixed income, derivatives and exchange traded funds on Tradeweb surged to its highest ever monthly volume in September, the trading platform said on Thursday.

Average daily trading volumes of $592.4 billion led to a 27.5 percent year-on-year increase in trading for September, up 19.5 percent on August.

September volumes were led by 25 percent increase in U.S. Treasury trading, while European government bond trading increased 20.3 percent, Tradeweb data showed.

“This surge coincided with increasing government bond yields in the U.S. and Europe,” Tradeweb said in a press release.

Solid U.S. economic data on Wednesday helped propel U.S. Treasury 10-year yields to their highest in seven years, while expectations for tighter monetary policy globally has prompted heaving selling across major bond markets in recent weeks.

Tradeweb said that year-to-date trading volumes have now surpassed $100 trillion, topping the total volume for 2017.

In credit, the average daily trading volume in U.S. high-grade credit topped $2 billion threshold for first time, Tradeweb said. (Reporting by Virginia Furness; editing by Dhara Ranasinghe)

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