Trumid, a Fixed Income Electronic Trading Platform, Reports Latest Performance

Trumid is reporting the latest March performance and Q1 2024 trading highlights.

Trumid, an electronic bond trading platform, has shared its monthly and quarterly activity in a new blog post.

Trumid, a financial technology company and fixed income electronic trading platform, reveals its latest trade volume and user participation highlights for March and Q1 2024.

According to Trumid, the March Highlights are as follows:

  • Reported average daily volume (ADV) of $5.5B, up 72% year-over-year.
  • Overall market share up 43% year-over-year across U.S. high yield and investment grade corporate bonds.
  • Pronounced high yield network activity continued with high yield ADV up 44% versus March 2023.
  • Trumid PT and RFQ set new highs for traded volume and user engagement as a record number of counterparties traded each day in both protocols.
  • 51% more users traded daily on the platform compared to a year ago. Over 1,300 traders transacted on Trumid for the third consecutive month.

Q1 2024 Highlights shared by Trumid:

  • Record traded volume and user engagement translated into record overall market share in each of Trumid’s individual trading protocols and across all Trumid traded market segments – Investment Grade, High Yield, and Emerging Market bonds.
  • Average daily volume was up 79% versus Q1 2023.
  • A record number of unique users executed a trade across one or more of all Trumid protocols.

Trumid PT markets its fifth consecutive quarter of sequential growth “with record traded volume, up around 90% quarter-over-quarter.”

A record number of counterparties traded each day and over 300 PT lists traded in the quarter.

Trumid RFQ reports its third consecutive quarter of sequential growth “with record traded volume, up nearly.”

40% quarter-over-quarter. Over 500 users initiated “a Trumid RFQ in Q1 and over 600 users responded to an RFQ in Q1.”

The daily average number of users trading in Trumid RFQ “has grown over 3x since the launch of Trumid Disclosed RFQ in May 2023.”

Trumid Swarms and Trumid Attributed Trading (AT) posted “a record quarter for traded volumes and number of clients executing trades. Buyside participation drove growth, with the number of users trading up 43% year-over-year in AT and more than 130% in Swarms.”

In the context of a busy new issue calendar, Trumid continued “to strengthen its new issue market share. Across both investment grade and high yield, Trumid accounted for a record average of 38% of all new issue secondary traded volume in the first two days of trading.”

Trumid’s strong high yield momentum from 2023 “continued into the first quarter of 2024 with record user engagement driving high yield ADV and market share to record highs.”

Trumid’s high yield ADV was “up 37% year-over-year and market share up 31% year-over-year. Growth was driven by a mix of elevated new issue activity and a record number of seasoned bonds trading across protocols.”

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.”

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