Electronic bond trading platform announces monthly activity
NEW YORK, June 7, 2023 /PRNewswire-PRWeb/ -- Trumid, a financial technology company and fixed income electronic trading platform, today announced trade volume and record user participation for the month of May.
May Highlights:
· Reported average daily volume (ADV) of $3.3B, up 72% year-over-year.
· Record overall market share, up 71% versus May 2022 with more than 50% market share growth in U.S. high yield and investment grade U.S. corporate bonds.
· Over 1,000 users traded on the platform for the fifth consecutive month with record user engagement across Trumid's Anonymous, Attributed Trading, Portfolio, and RFQ trading protocols. 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.
· May saw the busiest primary calendar in over a year. Trumid dominated secondary trading of new issues, with outsized market share in the first several days after issuance. Trumid accounted for an estimated one-third of all secondary market trading in newly issued bonds in May, proving the immediate and real-time value that Trumid can provide in price transparency in grey and new issue markets.
· Trumid announced the network-wide launch of its new Request for Quote (RFQ) offering. Trumid clients can now initiate, view, and respond to disclosed, fully anonymous, or partially anonymous single bond or list RFQs within Trumid's existing electronic trading platform. Trumid announced its expansion into list-based trading in February with the launch of Trumid Portfolio Trading. Hundreds of high yield, investment grade, and emerging market portfolio trades have been facilitated since launch.
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
Trumid Press, Trumid, 1 212 618 0300, [email protected]
SOURCE Trumid
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