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News articleYahoo Finance· February 5, 2026

Tradeweb Reports Record January 2026 Total Trading Volume of $65.5 Trillion and Record Average Daily Volume of $3.1 Trillion

View original at finance.yahoo.com
Tradeweb Reports Record January 2026 Total Trading Volume of $65.5 Trillion and Record Average Daily Volume of $3.1 Trillion January 2026 ADV up 26.2% YoY NEW YORK, February 05, 2026--(BUSINESS WIRE)--Tradeweb Markets Inc…
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  • Tradeweb serves more than 3,000 clients in more than 85 countries and facilitated more than $2.6 trillion in notional value traded per day over past four fiscal quarters

    80% confidence
  • Tradeweb captured 17.5% share of fully electronic U.S. high grade TRACE and 7.1% share of U.S. high yield TRACE

    80% confidence
  • Increased hedge fund and systematic account activity along with heightened credit volatility led to increased SEF and MTF credit default swaps activity

    80% confidence
  • TBA volumes set a new monthly record with increased outright and relative-value activity primarily driven by heightened intra-month basis volatility following the GSE MBS Purchase Program announcement

    80% confidence
  • Global institutional ETF volumes were up over 55% year-over-year as client base widened and adoption of automated trading functionality continued to grow

    80% confidence
  • In U.S. repo markets, strong growth was driven by effects of Fed's balance sheet unwind, and RRP balances remained close to zero for majority of month

    80% confidence
  • Swaps/swaptions increase driven by continued global political tensions and easing of U.S. inflation

    80% confidence
  • Record European government bond ADV was driven by strong volumes across institutional and wholesale client channels

    80% confidence
  • Record European credit volumes were driven by increased adoption of protocols including record traded volume in AiEX tool

    80% confidence
  • January 2026 ADV of $3.1 trillion represents an increase of 26.2% year-over-year

    80% confidence

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Late-September 2026 brought a dense run of clinical readouts: Novo Nordisk's CagriSema data at EASD, Lilly's ADtouch results for EBGLYSS, and Merck's tulisokibart Phase 2b result. Lilly's $2.9B Merida Biosciences acquisition and the 2026-11-14 FDA PDUFA date for ivonescimab sit alongside these as the main deal and regulatory events. AI-designed drugs such as rentosertib, and speculative AI-linked trial ventures such as QAIAx, are moving from hype toward clinical validation. Broader AI-sector regulatory and legal friction (Tesla Cybercab probe, xAI Minnesota ruling, OpenAI lawsuits) shows rising scrutiny that could spill into AI-driven healthcare.
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Apple Inc.
The observation date (2025-12-27) precedes Q1 2026, making it logically impossible to have actual Q1 2026 cash data at that point. Q1 2026 would not end until March 31, 2026. Additionally, the magnitude of the difference ($45.3B vs $132.42) is implausibly large even as a normal quarterly change for Apple. While different fiscal periods can show different values, the timing relationship here suggests a data integrity issue rather than legitimate period-over-period variation.
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