Electronic bond trading platform announces monthly activity and year-end highlights
NEW YORK, Jan. 9, 2024 /PRNewswire-PRWeb/ -- Trumid, a financial technology company and fixed income electronic trading platform, today announced trade volume and user participation highlights for December and for the full year of 2023.
- Reported average daily volume (ADV) of $2.9B, up 110% year-over-year.
- Overall market share up 70% year-over-year across U.S. high yield and investment grade corporate bonds.
- Over 1,000 users traded on the platform for the twelfth consecutive month.
- Increased client activity and protocol adoption by a growing and engaged user network of over 800 buy-and sell-side institutions. Reported trade volume grew 73% year-over-year.
- Record market share with 67% market share growth year-over-year across U.S. high yield and investment grade corporate bonds.
- Expanding breadth of client participation and rapid adoption of new protocols resulted in 50% increase in daily average users trading on the platform.
- With a rebound in primary activity, Trumid continued to be a leading source of liquidity with record market share of 32.5% in market wide new issue secondary traded volume in the first two days of trading.
- Trumid announced its expansion into list-based trading in February with the launch of Trumid Portfolio Trading (PT). In May, Trumid announced the network-wide launch of its new Request for Quote (RFQ) offering. The addition of Trumid PT and RFQ resulted in significant growth contributions on the platform.
- 150 unique users executed a PT trade in 2023.
- RFQ saw consecutive month-over-month growth with close to 1,000 users executing an RFQ trade since its mid-year launch.
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.
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.