Trumid Partners with Infoalgo for Connectivity12.12.2019 By Rob Daly Editor-at-Large
Inforalgo, the Capital Markets data automation specialist, has announced a new partnership with the fast-growing financial technology company, Trumid. The alliance will see Inforalgo provide on-demand integration to Trumid Market Center, the firm’s electronic bond trading platform, easing straight-through processing (STP).
The partnership, formed initially in response to a specific client request, will benefit a broad spectrum of clients engaged in US-dollar corporate bond trading. Trumid’s trade volume grew 230% year-over-year in November, with an average daily trading volume of $480m. Trumid’s client network has also continued to expand this year, now totaling more than 450 buy- and sell-side institutions.
Once built, the integration will be added to Inforalgo’s already extensive library of adapters. This in turn will broaden the trading potential of financial institutions, by providing easy connectivity into more trading venues to enable painless STP. Fuller connectivity, meanwhile, could enable richer management information, as well as regulatory transparency and automated reporting in compliance with prominent financial markets regimes globally.
For Trumid, the partnership will streamline the trading process for corporate bond clients which, increasingly, are transacting electronically.
“Traditionally, the majority of bond trading activity has been very manual. However, electronic trading, and transaction management in general, are rapidly growing. In turn, connectivity becomes much more relevant – presenting the opportunity to streamline processes and improve efficiency,” commented Josh Hershman, Chief Operating Officer at Trumid.
Offering a wide spectrum of integration options to existing clients and prospects will further promote growth in Trumid’s business, by prioritizing STP through smart, automated data flow and removing the need to key in data manually between systems.
“Connectivity is significant in our market. The more connections a vendor has, the easier it is to use that platform,” Hershman said. “Trumid is already connected to multiple OMS and EMS providers, and Inforalgo gives us another important connection used by our clients. This is a win-win-win – for us, for Inforalgo, and for our clients.”
“By working together to provide fast and efficient STP, Inforalgo and Trumid are able to ensure that Trumid’s clients have maximum options, removing the barrier that STP integration can create when attracting new clients,” added Phil Flood, Chief Commercial Officer at Inforalgo in London, UK. “Meanwhile, existing clients need to increase volumes, or new features might become available that mutual clients can take advantage of, and a direct connection can transform the possibilities here too.”
Chris White of ViableMkts and BondCliQ is introducing a new conference model.
Market-Implied Probability of Default provides an early warning signal by quantifying market sentiment.
Tradeweb notes the industry has a refreshingly simple litmus test for what innovation gets adopted and what ge...
The acquisition extends the vendor's SaaS offerings to private debt markets.
Buy side needs consolidated liquidity on a single platform.