Tradeweb turns attention to automating larger trades in credit
CEO: “In 2023, as we’re entering 2024, there are still clients that pick up the phone and do trades like it’s 1994.”
Tradeweb has published its highest ever third-quarter revenues, up 14.4% against the same quarter in 2022.
The record results were driven by a surge in revenue from US Treasuries, the market that Tradeweb originated in. Revenue from Treasuries surged 17% year-on-year to hit a new high this quarter.
On the company’s third quarter earnings call, CEO Billy Hult attributed the growth in Treasuries to increased adoption of Tradeweb’s RFQ+ function and a record average daily volume on its
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