Tradeweb Investor Presentation Deck
Total Addressable Market Details ¹
($ in trillion, ADV)
Rates
US Treasuries
Mortgages
Rate Derivatives
European Government Bonds
Other
Total Rates
Credit
US Investment Grade
US High Yield
European Credit
Credit Derivatives
Municipal Bonds
Emerging Markets
Total Rates
Equities (ETFs)'
US ETFs
European ETFs
Total Equities (ETFs)
Money Markets
Repo (Excluding Bilateral)
Total Money Markets
2015
$0.55
27
$0.21
$1.21
$0.12
$0.02
$2.11
2015
$0.02
$0.01
$0.01
$0.05
$0.01
$0.02
$0.11
2015
$0.08
$0.00
$0.08
2015
$1.6
$1.61
2016
$0.57
$0.21
$1.46
$0.12
$0.02
$2.38
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2016
$0.02
$0.01
$0.01
$0.05
$0.01
$0.02
$0.12
2016
$0.08
$0.00
$0.08
2016
$1.6
$1.63
2017
$0.56
$0.21
$1.89
$0.12
$0.0
$2.79
2017
$0.02
$0.01
$0.01
$0.05
$0.01
$0.02
$0.12
2017
$0.07
$0.00
$0.07
2017
$1.8
$1.82
2018
$0.61
$0.22
$2.34
$0.11
02
$3.30
2018
$0.02
$0.01
$0.01
$0.07
$0.01
$0.02
$0.14
2018
$0.10
$0.01
$0.11
2018
$1.9
$1.93
2019
$0.65
$0.25
$2.70
$0.12
$0.02
$3.74
2019
$0.02
$0.01
$0.01
$0.06
$0.01
$0.02
$0.14
2019
$0.09
$0.01
$0.10
2019
$2.3
$2.34
2020
$0.66
$0.29
$2.28
$0.11
$0.03
$3.37
2020
$0.03
$0.01
$0.01
$0.08
$0.01
$0.02
$0.16
2020
$0.13
$0.01
$0.14
2020
$2.4
$2.36
2021
$0.69
$0.28
$2.01
$0.12
$0.03
$3.12
2021
$0.02
$0.01
$0.01
$0.07
$0.01
$0.02
$0.15
2021
$0.14
$0.01
$0.15
2021
$2.9
$2.89
6M 22
$0.72
$0.26
$2.63
$0.13
$0.03
$3.76
6M 22
$0.03
$0.01
$0.01
$0.12
$0.01
$0.02
$0.20
6M22
$0.22
$0.01
$0.23
6M 22
$3.9
$3.85
Tradeweb
'15-6M 22 CAGR
4%
3%
12%
0%
5%
9%
'15-6M22 CAGR
7%
5%
3%
13%
7%
2%
9%
'15-6M22 CAGR
15%
14%
15%
1. Total ADV by asset class is based on public industry sources and Tradeweb internal estimates and for the purposes of this slide, total ADVs and Tradeweb ADVs omit volumes in products where the total market ADV
cannot be sourced reliably: APAC excluding Japan government bonds in rates, Chinese bonds in credit, equity derivatives in equities, and commercial paper, agency discount notes and certificates of deposits in money
markets. Total market size for all products included in each asset class is based on ADV through 6M22 except for EUGV and EM Debt, which are an average of the previous four quarters. Public sources by asset
class: rates (SIFMA, TRACE, CLARUS, AFME, JSDA); credit (TRACE, TRAX, CLARUS, SIFMA, CFETS, EMTA); equities (CBOE, Flowtraders); money markets (N.Y. Fed).
2. Total ADV for equities is based on ETF volumes only.
'15-6M22 CAGR
13%
13%View entire presentation