©2020 Tradew eb Markets LLC. All rights reserved. The materials and information 

contained herein are proprietary. 

TRADEWEB FIMSAC MUNICIPAL BOND 

MARKET: E-TRADING PERSPECTIVE

OCTOBER 5, 2020
©2020 Tradeweb Markets LLC. All rights reserv ed. The materials and inf ormation contained herein are proprietary .

MSRB ATS Reported Trades 

2
©2020 Tradeweb Markets LLC. All rights reserv ed. The materials and inf ormation contained herein are proprietary .

MSRB Market – Total Volume

3

Max. Volume Avg. Monthly Volume

2008 Muni Volume Feb. $580B $403B
©2020 Tradeweb Markets LLC. All rights reserv ed. The materials and inf ormation contained herein are proprietary .

Tradeweb Active Users

4
©2020 Tradeweb Markets LLC. All rights reserv ed. The materials and inf ormation contained herein are proprietary .

RFQs and Responses on Tradeweb

5
©2020 Tradeweb Markets LLC. All rights reserv ed. The materials and inf ormation contained herein are proprietary .

MSRB Market – Volume 

Retail (<100K Size Bucket)

6

Max. Volume Avg. Monthly Volume

2008 Muni Volume Mar. $19B $17B
©2020 Tradeweb Markets LLC. All rights reserv ed. The materials and inf ormation contained herein are proprietary .

Tradeweb Retail & Institutional Market - Volume

7
©2020 Tradeweb Markets LLC. All rights reserv ed. The materials and inf ormation contained herein are proprietary .

MSRB Muni Market Weekly Buy/Sell Ratio

8
©2020 Tradeweb Markets LLC. All rights reserv ed. The materials and inf ormation contained herein are proprietary .

Disclosures

9

ABOUT TRADEWEB MARKETS

Tradeweb Markets Inc. (Nasdaq: TW) is a leading, global operator of electronic marketplaces for rates, credit, 

equities and money markets. Founded in 1996, Tradeweb provides access to markets, data and analytics, electronic 

trading, straight-through-processing and reporting for more than 40 products to clients in the institutional, wholesale 

and retail markets. Advanced technologies developed by Tradeweb enhance price discovery, order execution and 

trade workflows while allowing for greater scale and helping to reduce risks in client trading operations. Tradeweb 

serves approximately 2,500 clients in more than 65 countries. 

For more information, please go to www.tradeweb.com. 

DISCLOSURES

The information provided has been obtained from sources deemed to be reliable, however Tradeweb does not 

guarantee the accuracy of the information contained in this report. This information is intended for general 

informational purposes only, and should not be used for any investment decisions. None of the information in the 

attached constitutes an offer or solicitation to buy or sell any security or financial product, a recommendation 

concerning any security, financial product or asset class, or an offer to provide investment advice or any other 

service. This presentation shall not be published, reproduced, copied or used without the express written consent of 

Tradeweb Markets.

Tradeweb LLC, Tradeweb Direct LLC, and Dealerweb Inc. are broker-dealers registered with the SEC and members 

of MSRB, FINRA. Tradeweb maintains additional registrations and permissions in jurisdictions globally. Further 

information may be found at http://www.tradeweb.com/Disclosures/.