Trumid Reports June Performance and Q2 2023 Trading Highlights
New York (PRWEB) July 07, 2023 -- Trumid, a financial technology company and fixed income electronic trading platform, today announced trade volume and user participation highlights for June and Q2 2023.
June Highlights:
· Reported average daily volume (ADV) of $3.2B, up 71% year-over-year.
· Record U.S. high yield market share, nearly doubling year-over-year.
· Over 1,000 users traded on the platform for the sixth month in a row with record user engagement across Trumid’s Anonymous, Attributed Trading, Portfolio, and RFQ trading protocols.
Q2 2023 Highlights:
· Continued network activation drove record overall market share. Both reported traded volume and overall market share grew by almost 70% versus Q2 2022. Trumid’s client network now includes more than 750 buy-and sell-side institutions.
· The number of unique bonds traded daily doubled year-over-year and a record number of users traded on the platform. More than 50% of active institutions on Trumid traded in multiple Trumid trading protocols, benefiting from the unique integration between workflows within the Trumid application.
· Trumid’s new list-based trading protocols continued to gain momentum with clients. Trumid Portfolio Trading saw a 65% quarter-over-quarter increase in the number of lists traded. The protocol is proving particularly valuable at month end with a greater concentration of trades, active traders, and organic volume.
· Trumid announced the launch of its new Request for Quote (RFQ) offering. Clients can initiate, view, and respond to disclosed, fully anonymous, or partially anonymous single bond or list RFQs within one application. RFQ is fully integrated within Trumid’s existing electronic trading platform, combining existing and new workflows to help clients find valuable network liquidity. Active user adoption and client feedback is helping to rapidly advance the protocol with dozens of enhancements deployed just weeks into launch.
· Trumid continued to grow its dealer-to-client protocol, Attributed Trading (AT), providing direct connectivity and access to diversified liquidity. 49 major dealers and leading algorithmic liquidity providers stream actionable market data on 13,800 CUSIPs daily into AT, all of which can be leveraged within Trumid PT and Trumid RFQ.
· Trumid was a leading source of actionable liquidity, especially around new issues. Trumid accounted for one-third of all secondary market trading in newly issued bonds in Q2, proving the immediate and real-time value that Trumid can provide in price transparency in grey and new issue markets. An estimated 28% of this new issue volume on Trumid traded in the grey market. Trumid dominates secondary trading of new issues, with outsized market share in the first several days after issuance.
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 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 an offer would be unlawful under the relevant domestic law. Trumid Financial, LLC is a broker dealer registered with the U.S. Securities and Exchange Commission (“SEC”) and is a member of FINRA and SIPC.
Trumid Press, Trumid, http://www.trumid.com, 1 2126180300, [email protected]
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