Trumid Launches Portfolio Trading Protocol
Electronic bond trading platform announces expansion into list-based trading
NEW YORK, Feb. 28, 2023 /PRNewswire-PRWeb/ -- Trumid, a financial technology company and fixed income electronic trading platform, today announced the launch of portfolio trading on Trumid. Designed to simplify and extend electronic portfolio trading for institutional clients and dealers, Trumid Portfolio Trading (PT) is the newest addition to Trumid's ecosystem of protocols and trading solutions — delivering multiple workflows to traders in a single unified application.
Trumid began rolling out its new PT solution to clients in late 2022. The first release focused on making the basics easy: an integrated electronic solution for clients to efficiently submit, evaluate, negotiate, and execute portfolio trades, with a clean and simple user interface. Designed and built in close collaboration with network participants, Trumid PT includes:
- Efficient desk collaboration tools to enable sell-side traders at the same dealer to collaborate in real-time on inquiries.
- Access to Trumid's Fair Value Model Price (FVMP™). Trumid's proprietary real time bond pricing service is embedded in the workflow, covering approximately 20,000 USD-denominated corporate bonds. Trumid clients increasingly view and rely on FVMP for best execution.
- List processing for up to 3,000 line items. Large lists can be efficiently managed through the platform with rapid pricing and post-trade delivery. Analytics for portfolio trades with 3,000 line items across eight dealers in competition can be recalculated in under one second.
- Flexible negotiation features to allow buy-side clients to fully negotiate within the application.
- Straight-through processing to leading OMS providers and proprietary systems.
Trumid Portfolio Trading is seamlessly integrated with Trumid's dealer-to-client protocol, Attributed Trading (AT), offering a data enriched approach to portfolio trading. 44 dealers and algorithmic liquidity providers stream actionable market data on more than 13,000 CUSIPs daily into AT, all of which can be leveraged within the portfolio trading protocol.
"Trumid PT is quickly gaining momentum as clients demonstrate their trust in us by embedding our new protocol in their daily workflow," said Mike Sobel, Co-CEO and President of Trumid. "Week after week we're seeing more users of Trumid PT, with larger lists by overall size and number of line items, and executions flowing smoothly. Trumid's clients continue to value our fast and intuitive UI and the unique integration between our protocols."
Jason Quinn, Chief Product Officer of Trumid said, "In just two months, we have significantly streamlined what was historically a very complex workflow for our clients and this is only the beginning. We have a rich pipeline of features and functionality to come. This month, we deployed multiple platform-wide net spotting sessions across all our trading protocols, including Trumid PT. Clients can choose when and how to spot with enhanced access to our competitive rates liquidity and rapid net hedging."
Trumid continues to expand its rates automation tools to deliver best-in-class rates flexibility. In addition to spotting trades at the time of execution, and at 4:00 p.m. ET, Trumid users can also elect to spot trades at 11:00 a.m., 3:00 p.m., and 4:30 p.m. ET.
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 member of FINRA and SIPC.
Media Contact
Press, Trumid, 1 212-618-0300, [email protected]
SOURCE Trumid
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