Trumid Reports October Performance

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Nov 08, 2024, 08:00 ET

Electronic bond trading platform announces monthly activity

NEW YORK, Nov. 8, 2024 /PRNewswire/ -- Trumid, a financial technology company and fixed income electronic trading platform, today announced trade volume and user participation highlights for October 2024.

October Highlights:

Reported Average Daily Volume (ADV) of $6.5B, up 52% year-over-year.
Overall market share up 19% year-over-year across U.S. investment grade and high yield corporate bonds.
- Trumid PT growth continued, setting new highs for client engagement across counterparties and lists traded. 206 PT lists traded on Trumid in October – a new record.
- Trumid RFQ accelerated in client adoption. A record number of Trumid RFQ initiators and RFQ responders engaged in the protocol in October, translating into the third consecutive month of record traded volume. Over 900 onboarded buy-and sell-side institutions are available to participate and respond to Trumid RFQs, with a fully integrated RFQ responder network of major dealers and leading algorithmic liquidity providers.
- Trumid AutoPilot™ for RFQ saw record participation and list sizes in the month. Launched just nine months after Trumid RFQ, AutoPilot uses pre-determined parameters, set by clients, to allow the platform to seamlessly execute trades on their behalf. Available for both buy-and sell-side users, AutoPilot supports mixed lists of up to 500 line-items.
- Trumid Swarms saw healthy engagement in grey and new issue liquidity as well as secondary liquidity. In what was one of the slower new issue months this year, Trumid still accounted for an average of 40% of new issue secondary trading of deals in the market during the first two days of trading. The daily average number of users executing a trade in Trumid Swarms grew 66% year-over-year.
- Trumid Attributed Trading (AT) enjoyed increased overall participation aided by almost 60 major dealers and leading algorithmic liquidity providers streaming actionable market data into Trumid's AT network. AT traded volume was up over 40% year-over-year.
Over 10,000 bonds traded on Trumid in October – a new record – and over 1,400 traders transacted on the platform for the second month in a row.

Trumid press
+1 (212) 618-0300
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About Trumid
Trumid is a financial technology company and fixed income electronic trading platform focused on US dollar-denominated Investment Grade, High Yield, Distressed, and Emerging Market bonds. Trumid optimizes the credit trading experience by combining agile technology and market expertise, with a focus on product design. The result is a differentiated ecosystem of protocols and trading solutions delivered within one intuitive platform. Learn more at www.trumid.com.

© 2024 Trumid Holdings LLC and its affiliates. All rights reserved. Trumid Financial LLC is regulated by the SEC and is a member of FINRA and SIPC. Information included in this message does not constitute a trade confirmation or an offer or solicitation of an offer to buy/sell securities or any other products. There is no intention to offer products and services in countries or jurisdictions where such an offer would be unlawful under the relevant domestic law.

SOURCE Trumid