Trumid’s Market Center Hits Record $1 Billion Trade Volume In First Month
Trumid.com – New York, NY – Trumid, an all-to-all electronic trading platform for corporate bonds, announced today that over $1B in volume has traded on its new Trumid Market Center, which launched just over one month ago. The Trumid Market Center is designed to unlock liquidity for all market participants by giving them efficient and anonymous access to a network of their peers, which currently includes nearly 300 institutions from the buy side and sell side. Since launch, 80% of these users have been active on the platform and over one-third have executed trades.
“Over the past month, we’ve seen consistent growth in order and trade volumes, as well as user engagement of the platform,” said Mike Sobel, President of Trumid. “We worked hard to develop a platform that integrates with our clients’ workflow and is effective in getting trades done. We’re encouraged to see our users having successful experiences on a daily basis and getting increasingly comfortable with the platform during these summer months. The first $1B in volume is an exciting milestone and we look forward to continued growth.”
Trumid’s new Market Center is focused on driving strong user experiences. The company has introduced a number of new interface and protocol features that respond to the idiosyncrasies of the credit market. Trades on Trumid occur in Swarms, trading sessions that launch when compatible orders exist. The new platform introduces “Swarm on Demand,” whereby users have the ability to initiate Swarms on any of approximately 30,000 corporate securities at any time during the trading day.
“Our goal is to empower our users to do what they want, when they want,” said Ronnie Mateo, CEO of Trumid. “Between our Swarms on Demand, the combination of lit and dark protocols, and our tailored notifications and customizable interface, we are trying to provide an efficient and easy-to-use experience for our clients.”
Trumid helps buyers and sellers navigate the often-opaque corporate bond market through a combination of technology and data. The company remains focused on institutional-sized trades, with an average trade size of $2 million.
Trumid is an all-to-all electronic trading platform designed to make corporate bond trading easier. The company was founded in 2014 by credit professionals with over 100 years of combined trading experience and is headquartered in New York City. With total trade volumes of nearly $5 billion since inception, Trumid offers anonymous and efficient trading with low transaction costs. The fintech start up recently launched Trumid Market Center, which includes expanded functionality to allow its users to access liquidity on the platform on their own terms. The Trumid platform currently supports trading in investment grade, high yield and distressed corporate bonds. Find us at: http://www.trumid.com
The regulator may also modernize rules related to the definition of an exchange.
The firm also reported record emerging markets commission revenue.
Lack of connection between the two markets in China has resulted in poor price discovery and liquidity.
Volumes of sustainable debt surpassed $1.6 trillion in 2021.
The consolidated quote system for corporate bonds has raised funds to expand outside the US.