Electronic bond trading platform announces monthly activity
NEW YORK, Aug. 5, 2024 /PRNewswire-PRWeb/ -- Trumid, a financial technology company and fixed income electronic trading platform, today announced trade volume and user participation highlights for July 2024.
July Highlights:
- Reported Average Daily Volume (ADV) of $5.2B, up 59% year-over-year.
- Overall market share up 36% and U.S investment grade market share up 35% versus July 2023.
- Pronounced high yield network activity continued with record U.S. high yield market share, up 29% versus July 2023.
- In an active summer month for U.S. dollar bond issuance, Trumid continued to strengthen its new issue market share. Trumid accounted for an average of approximately 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%).
- Approximately 40% more users traded each day on the platform compared to a year ago. Over 1,300 traders transacted on Trumid for the seventh consecutive month.
- Trumid PT enjoyed record traded volume and record month-on-month growth in traded volume, up 60% versus June 2024. Client engagement in the protocol was at its highest level across counterparties and lists traded.
- Trumid RFQ saw continued growth in client adoption. Over 400 users initiated a Trumid RFQ in July and approximately 600 users responded to an RFQ in July. Trumid RFQ's integrated responder network includes all the top dealers and several leading algorithmic liquidity providers. Over 1,200 unique users have executed an RFQ trade since launch.
- Trumid Swarms continued to be a valuable source of network liquidity in grey and new issue trading as well as secondary liquidity. The daily average number of users executing a trade grew 87% year-over-year in the protocol.
- Trumid Attributed Trading (AT) logged record protocol participation aided by almost 60 major dealers and leading algorithmic liquidity providers streaming actionable market data into AT.
- Trumid's fast-growing client network now includes 880 buy-and sell-side institutions.
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 (212) 618-0300, [email protected] , www.trumid.com
SOURCE Trumid
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