Trumid recently reported its January performance.
The electronic bond trading platform announced “record” monthly activity.
Trumid, a financial technology company and fixed income electronic trading platform, reports record trade volume and user participation highlights for January 2024.
January Highlights shared by Trumid are as follows:
- Record reported average daily volume (ADV) of $6.4B, up 90% year-over-year.
- Record overall market share, up 70% year-over-year.
- Record client engagement with 52% more users trading each day compared to a year ago.
- Over 1,300 traders transacted on Trumid in January.
- Trumid clients were more active than ever on the platform, as strong activity growth from the end of 2023 accelerated into 2024.
Record volume and user engagement in “each of Trumid’s individual trading protocols and across all Trumid traded market segments – Investment Grade, High Yield, and Emerging Market bonds.”
Trumid RFQ enjoyed its eighth consecutive month of sequential growth, “with traded volume up nearly 50% month-on-month.”
As noted in the update, buyside engagement continues “to grow, with 150 buyside traders responding to Trumid RFQs in January alone. Over 1,100 unique users have executed an RFQ trade since launch.”
Trumid PT had record trade volume and user engagement, “representing the growing use of PT for rebalancing, resetting positions, and taking profits.”
Trumid Swarms and Trumid Attributed Trading (AT) enjoyed a record month “for traded volumes and number of clients executing trades.”
Buyside participation drove growth, “with the number of users trading up 50% year-over-year in AT and more than 100% in Swarms.”
Trumid continued to strengthen its new issue market share “with increased user participation and record average daily trading volumes.”
Trumid accounted for “an average of 37% of new issue secondary traded volume in the first two days of trading.”
Trumid saw pronounced activity “in high yield, particularly amid a busy calendar, with a record number of users finding valuable network liquidity in grey and new issue trading.”
Trumid’s January high yield volume was up 23% year-over-year, “despite overall high yield market volume and electronic high yield volume remaining relatively flat.”
As covered, 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.”
Trumid Financial LLC is regulated by the SEC and is a member of FINRA and SIPC.
