Electronic bond trading platform announces monthly activity
NEW YORK, June 7, 2024 /PRNewswire-PRWeb/ -- Trumid, a financial technology company and fixed income electronic trading platform, today announced trade volume and user participation highlights for May 2024.
May Highlights:
- Reported Average Daily Volume (ADV) of $5.2B, up 57% year-over-year.
- Overall market share up 33% and U.S. investment grade market share up 36% year-over-year.
- Trumid's strong high yield momentum continued into May. High yield traded volume on Trumid was up 42% year-over-year and market share up 22%. Growth was driven by a mix of elevated new issue and non-new issue high yield traded volume on the platform.
- 44% more users traded each day on Trumid compared to a year ago with the majority of traders transacting in more than one Trumid protocol.
- Trumid RFQ logged its twelfth consecutive month of sequential growth with record traded volume and continued record network adoption.
- Trumid PT set a new high for client engagement as a record number of counterparties traded each day in the protocol. Over 140 PT lists traded in the month.
- Trumid Swarms saw traded volume increase 35% year-over-year. 95% more users traded each day in the protocol compared to a year ago.
- Trumid Attributed Trading (AT) saw record network participation, aided by almost 60 major dealers and leading algorithmic liquidity providers streaming actionable market data into Trumid's AT network.
- Trumid continued its rapid pace of product development through the month. New in-app enhancements included:
- Trumid AutoPilot™ – Trumid's entry into automated trading solutions was rolled out for RFQ. Designed to ensure efficient trade execution, AutoPilot uses pre-determined parameters, set by a client, to allow the platform to seamlessly execute trades on their behalf. Trumid clients that are utilizing this workflow are already finding value with over 60% of their RFQ trades now being auto executed. With a full ecosystem of trading protocols to offer clients, AutoPilot is just the beginning of automation on the Trumid platform.
- Trumid PT Pricer™ – Trumid's newest pre–trade analytics tool also launched in May. Designed to accurately estimate where a PT list should transact, Trumid PT Pricer considers specific features of a list and market context, and ticks in real-time, providing updates on where execution should happen on a Trumid client list. By embedding powerful analytics directly in-app, network clients can leverage Trumid PT Pricer to make more informed trading decisions and execute in one place. Trumid PT Pricer is now available in pre-trade views and coming soon to in-flight session views.
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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