TRACE Monthly Volume Report

This data provides total and average daily trading volumes for the prior month in corporate, agency and securitized products reported to TRACE. Learn more about corporate, agency and other bonds.

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About the Data

Data Sources TRACE (Trade Reporting and Compliance Engine), the FINRA-developed vehicle that facilitates the mandatory reporting of over-the-counter transactions in eligible fixed income securities.
Data Collection Trades is a count of valid trades reported to TRACE. All broker-dealers who are FINRA member firms have an obligation to report transactions in TRACE-eligible securities under an SEC-approved set of rules. 
Time Period Reports contain volume data per month for trades executed between 00:00:00 Eastern Time on the 1st of the month and 23:59:59 Eastern Time on the last day of the month. Monthly Volume Reports are available starting  January 2017 until present. 
Data Purpose The TRACE Monhtly Volume Report is a complement to the Real Time Data Feeds and illustrates monthly capped average size trading volumes reported to TRACE.
Publish Schedule Data for the prior month is published on the third business day of the month.
Amendments If previously published data is updated, the corrected numbers will be published when the next report is issued and the corrected numbers will be contained in the report moving forward. 
Support Materials See About TRACE Monthly Volume Reports for report legend and details.
Notes

The following describes how volume is aggregated for the data.

  • Trades executed between 00:00:00 Eastern Time on the 1st of the month and 23:59:59 Eastern Time on the last day of the month.
  • Trades is a count of valid trades reported to TRACE.
  • Par Value is the sum of reported trade sizes (uncapped), expressed in millions of U.S. dollars.
  • Trades and Par Value include 144A transactions.
  • For CORP, CONV, CHRC, ELN, AGCY, and ABS, only S1 trades are included.
  • The “ATS” category includes the sell side of a trade executed on an ATS (including ATS sales to non-members or non-member affiliates). The category excludes a FINRA member sell to an ATS. This approach considers the multiple trade reports required for some ATS transactions and standardizes volumes across different ATS business models.
  • The “Interdealer” category includes the sell side of a trade executed between FINRA members outside of an ATS (i.e. dealer-to-dealer trades).
  • The “Dealer-to-Customer” category includes all trades (buys and sells) reported by a FINRA member against non-members or non-member affiliates. The category excludes ATS transactions with non-members and non-member affiliates (those trades are represented in the “ATS and Interdealer” category as noted above).
Available Formats XLSX File Download
Support For additional information regarding the TRACE Monthly Volume Report, please contact TRACE Data Services at (888) 507-3665.