ION Markets, a global provider of trading platforms, analytics, and risk management solutions for capital markets, announces the connection of its LatentZero order management system (OMS) to Trumid, a financial technology company and fixed income electronic trading platform.
The link adds connectivity to ION Markets’ fast, accurate OMS “for all markets and brokers worldwide, across every asset class.”
For asset managers, high-speed, precise order management is “vital.”
Critical information is “required in real time.” However, many firms “rely on a mixture of redundant, isolated systems, and manual processes.” This makes it challenging “to control costs and keep pace with shifting regulations.”
As a key player focused on electronic bond trading platform, Trumid says it “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 for its global community of users.” The integration between LatentZero OMS and Trumid supports all Trumid trading protocols and is designed “to deliver best execution by utilizing automated and innovative technologies.”
It will allow users “to interact with a wider group of buy-and sell-side market participants, provide greater access to liquidity and trading opportunities, and simultaneously ensure the compliance of trades from LatentZero OMS.”
Trumid brings “an extensive and diverse client network of over 720 institutions.”
In Q1 2023, Trumid “reported record trade volume, overall market share, and user participation with average daily volume (ADV), up 81% year-over-year.”
Trumid reportedly “offers users protocol flexibility, supporting a full ecosystem of trading protocols in one application.”
From the LatentZero integration, traders can “access both anonymous (session based) and attributed trading workflows (dealer streams and portfolio trading) on Trumid.” All activity is consistent “with investment directives, risk, and compliance checks.”
The connection between parties also “provides users with access to Trumid’s integrated market data intelligence tools, delivering enhanced transparency across the trade lifecycle and an aggregated view of the market.”
The personalized experience “includes smart notifications to help guide and inform trading decisions.”
Lauren Burd, Head of Product Sales, Trumid, said:
“We’re excited to extend our integration with ION Markets, to drive innovation and enhance trading workflows for our mutual clients across all Trumid trading protocols. The Trumid platform offers a unique pre-trade experience and a large pocket of diverse liquidity. Our integration with LatentZero OMS creates efficiency and helps to minimize operational risk for traders. We look forward to continued collaboration with ION, especially as we expand into list-based trading.”
Steven Strange, Head of Product (Asset Management) at ION Markets, comments:
“We’re committed to meeting the evolving needs of our clients, offering technology innovation and workflow automation to help them transform their businesses. We’re equally passionate that compliance checks are built into every stage of the lifecycle, guaranteeing an audit trail for less complicated reporting. The connection to Trumid through ION LatentZero OMS will provide access to leading market intelligence tools and improve workflow efficiency across the full trade lifecycle.”
As noted in the update, 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.”