Trumid to Acquire Fellow All-To-All Trading Platform, Electronifie
New York, New York (PRWEB) March 23, 2017 -- Trumid, a financial technology company that improves trading efficiency and market intelligence in the corporate bond market, today announced that it has reached a definitive agreement to acquire fellow all-to-all trading platform, Electronifie. The acquisition will increase the size and diversity of the Trumid user network and strengthen Trumid’s team and technology offering. Following a regulatory approval process, Trumid expects the transaction to close early in the second quarter of 2017.
Upon closing, over 350 institutions will be on board Trumid Market Center, the company’s all-to-all trading network for corporate bonds. This includes 20 of the top 25 asset managers in the world and 60 broker-dealers.
“We pride ourselves on building a strong user network and delivering great products that make corporate bond trading easier. Trumid continuously strives to improve all aspects of our clients’ trading experience,” said Mike Sobel, President of Trumid. “The Electonifie team shares that vision and the combination of our networks will enhance the all-to-all liquidity available on the Trumid platform.”
In addition, Trumid recently closed a $28mm capital raise, with participation from existing lead investors as well as from new partners including CreditEase Fintech Investment Fund. With this capital, Trumid will continue to proactively grow and improve its offering, including its data science effort Trumid Labs, expansion of its salesforce, and development of new products.
SenaHill Securities, LLC served as financial and strategic advisor to Electronifie in the transaction.
About Trumid
Trumid is a financial technology company bringing efficiency to credit trading through data, technology and beautifully simple products. Trumid Market Center, the company’s all-to-all electronic trading and market intelligence platform, provides corporate bond market professionals with direct access to anonymous liquidity. Trumid’s products leverage the network effect and data science to empower all credit market participants to make more informed decisions. Trumid was founded in 2014 by credit professionals with over 100 years of trading experience and is headquartered in New York City. Learn more at: http://www.trumid.com
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 offer would be unlawful under the relevant domestic law.
Erica Schain, Trumid, https://www.trumid.com/, +1 (914) 233-5363, [email protected]
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