Trumid Reports September and Q3 2024 Performance

Electronic bond trading platform announces monthly and quarterly activity

NEW YORK, Oct. 7, 2024 /PRNewswire-PRWeb/ -- Trumid, a financial technology company and fixed income electronic trading platform, today announced trade volume and user participation highlights for September and Q3 2024.

September Highlights:

• Record reported Average Daily Volume (ADV) of $6.8B, up 78% year-over-year and 37% month-over-month.
• Each of Trumid's protocols had record client engagement, with a record number of counterparties trading each day in Trumid RFQ, Portfolio Trading (PT), Attributed Trading (AT), and Swarms.
• Trumid RFQ is accelerating in client adoption. A record number of Trumid RFQ initiators and RFQ responders engaged in the month translating into record RFQ traded volume.
• In a very active primary issuance month, Trumid handled more than a third of all new issue secondary trading volume.
• High yield continued to be an area of network strength. Increased client activity in high yield trading drove platform ADV and market share to record highs. High yield average daily traded volume on Trumid was up around 40% versus September 2023.
• 51% more users traded daily on Trumid compared to a year ago. Around 10,000 bonds traded in September – a new record – and over 1,400 traders transacted on the platform – also a new record.

Q3 2024 Highlights:

• Continued network activation drove overall market share up 25% and ADV up 68% versus Q3 2023. Trumid's expanding client network now includes 900 buy-and sell-side institutions.
• The majority of active institutions on the platform traded in multiple Trumid trading protocols, valuing the unique integration between workflows.
• Trumid PT enjoyed its seventh consecutive quarter of sequential growth with record traded volume. Client engagement in the protocol was at its highest level as nearly 500 lists traded in the quarter.
• Trumid RFQ logged its fifth consecutive quarter of sequential growth with record traded volume and client adoption. More than 600 users initiated a Trumid RFQ in Q3 and over 700 users responded to an RFQ.
• Trumid Swarms and Trumid AT saw continued healthy engagement with traded volume up 73% year-over-year in Trumid Swarms and 50% in Trumid AT.
• Trumid's technology, product, and sales teams worked closely with clients, rolling out new features specifically focused on the market's growing need for automated data-driven solutions.

• Analytics: Trumid PT Pricer™

Further enhancements were deployed to Trumid's newest analytics tool. PT Pricer estimates where a list of names should transact as a PT and compares it versus single name execution. PT Pricer is available both pre-trade and in-session and helps to guide clients when determining whether to send single-name Trumid RFQs or PTs.

• Automation: Trumid AutoPilot™ for RFQ

Launched just nine months after Trumid RFQ, Trumid AutoPilot uses pre-determined parameters, set by clients, to allow the platform to seamlessly execute trades on their behalf. Trumid clients that are utilizing this workflow are already finding value with 80% of their RFQ trades auto executed. With a full ecosystem of trading protocols to offer clients, AutoPilot is just the beginning of automation on the Trumid platform.

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