Electronic bond trading platform announces monthly activity
NEW YORK, May 8, 2024 /PRNewswire-PRWeb/ -- Trumid, a financial technology company and fixed income electronic trading platform, today announced trade volume and user participation highlights for April 2024.
April Highlights:
- Reported Average Daily Volume (ADV) of $5.5B, up 77% year-over-year.
- Overall market share up 30% and U.S. investment grade market share up 31% versus April 2023.
- U.S. high yield continued to be an area of network strength. High yield traded volume on Trumid was up nearly 50% year-over-year – the third consecutive month of $1B+ ADV trading in high yield. Trumid's U.S. high yield market share was up 22% year-over-year.
- In what was a quieter month for U.S. dollar bond issuance this year, Trumid continued to strengthen its new issue market share. In April, Trumid accounted for an average of around 40% of all new issue secondary trading of deals in the market in the first two days of trading (versus a 2023 platform average of 33%).
- Continued growth was seen in Trumid's individual trading protocols.
- Trumid RFQ logged its eleventh consecutive month of sequential growth with record traded volume, up 27% month-on-month. Continued network adoption saw new monthly records for the number of RFQ initiators and RFQ responders.
- Trumid PT enjoyed record traded volume, up around 15% month-on-month. A record number of counterparties traded each day and over 140 PT lists traded in the month.
- Trumid Swarms saw traded volume increase nearly 50% year-over-year. 80% more users traded each day in the protocol compared to a year ago, demonstrating the powerful network effects of the Trumid protocol ecosystem.
- The expanding breadth of client participation resulted in a 47% year-over-year increase in daily average users trading on the platform. Over 1,300 traders transacted on Trumid for the fourth consecutive month.
- Trumid's fast-growing client network now includes 850+ buy-and sell-side institutions, including 57 major dealers and leading algorithmic liquidity providers.
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.
Media Contact
Trumid Press, Trumid, 1 2126180300, [email protected], www.trumid.com
SOURCE Trumid
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