Tradeweb Reports Record Q2 Trading Volume Amid Market Volatility

Tradeweb Markets Inc. posted a record $165.3 trillion in total trading volume for Q2 2025, with average daily volume surging 32.7% year-over-year to $2.6 trillion. June's figures alone hit $52 trillion, buoyed by heightened market activity and institutional adoption of electronic trading platforms.

CEO Billy Hult attributed the growth to persistent client engagement despite April's volatility—driven by shifting central bank policies, U.S. tariff announcements, and Middle East tensions. The resilience of electronic trading during turbulence underscores its entrenched role in modern finance.

Preliminary data shows average variable fees held steady at $2.30 per million dollars traded, while fixed fees across asset classes reached $93.8 million. Excluding August 2024's ICD acquisition, organic June ADV growth remained robust at 13% YoY.