Trumid, a financial technology company and fixed income electronic trading platform, announced trade volume and user participation highlights for March and Q1 2025.
Mike Sobel, Co-CEO and President of Trumid said:
“This was our strongest month and quarter yet – a testament to our clients’ trust in Trumid as their go-to destination for electronic credit trading. From deep protocol adoption to record-setting volume and market share, momentum was platform-wide, reflecting deepening network engagement. A record $8.0 billion ADV traded on Trumid in March, up 46% year-over-year.”
March and Q1 2025 highlights include:
- Average Daily Volume (ADV) of $8.0 billion in March, up 46% year-over-year, outpacing TRACE™ reported growth of 21% over the same period.
- Sustained growth in overall market share, up 21% year-over-year across all Trumid traded market segments – Investment Grade, High Yield, and Emerging Market bonds.
Trumid network engagement was at its highest levels across all key platform indicators in Q1 2025, “driving record overall market share and significant market outperformance.”
Trumid ADV increased “22% year-over-year, more than double the 10% year-over-year growth in TRACE-reported market-wide volume.”
13,500+ unique bonds traded on Trumid in Q1 2025 – a new record – and around 1,700 traders “transacted on the platform for the third consecutive quarter.”
Trumid RFQ and PT were major contributors “to year-over-year platform growth, with combined Trumid list-based protocol volume doubling year-over-year.”
Trumid RFQ delivered its seventh consecutive quarter of sequential growth, setting records in “traded volume and client participation. ADV was up 52% quarter-over-quarter and 160% year-over-year.”
Trumid AutoPilot for RFQ steadily gained momentum,” hitting all-time highs across participation, trade count, and list sizes.”
Available for both buy- and sell-side users, clients “value its ease of use and additional safeguards, especially during volatile market conditions.”
Alongside gaining market share and user engagement growth, Trumid also completed a “significant optimization of its code base, technology architecture, and test automation stack in Q1.”
Trumid’s investment in agility has enabled the company “to double its product release cadence toward the goal of continuous delivery in 2025.”
The platform is built and now optimized to scale efficiently – while maintaining the “performance and reliability clients expect.”
Positioned to innovate in close collaboration with its users, Trumid’s clients will experience “the benefits of this technology initiative immediately.”
As reported recently, Trumid, a financial technology company and fixed income electronic trading platform, announced its enhanced Fair Value Model Price (FVMP) predictive pricing model “for corporate bonds, providing users with an intelligent tool for pre-trade analysis, automation, market-making, portfolio management, and other functions across the trading workflow.”
Mutisya Ndunda, Head of Data Strategy and AI said:
“With platform activity surging across Trumid RFQ, Attributed Trading, Portfolio Trading and Swarms, we are producing more unique – and more valuable – platform intelligence and insights to fuel our differentiated data profile, further enhancing the quality, and predictive accuracy of FVMP,”
They added:
“FVMP’s core competency is its blend of sophisticated machine-learning algorithms and statistical quantitative methods to interpret vast datasets and provide real-time, predictive pricing in any market environment. And, as the model continually adapts to new data, that information is weighted dynamically so that FVMP is designed to maintain its accuracy without relying explicitly on historical predictions.”
FVMP predicts prices every 30 seconds for “about 22,000 U.S. dollar-denominated corporate bonds by leveraging trading activity across all sizes, from micro-lots to large block-size trades, from the Trumid platform, along with external data, including TRACE prints.”
It is designed to produce a fully automated “unbiased two-sided market in real time.”
Driven by Trumid’s agile tech stack, FVMP integrates “with trader workflows, providing important pricing intelligence for clients seeking to trade liquid or illiquid investment grade, high yield, or emerging market corporate bonds.”
Among the features and benefits of the enhanced FVMP:
- Richer inputs: Unique intelligence from Trumid’s trading protocols plus publicly available and contributed data
- Frequent updates: Pricing updates every 30 seconds to keep pace with dynamic markets
- Comprehensive coverage: Spanning ~22,000 USD-denominated corporate bonds
- Full automation: Producing unbiased two-sided markets
- Broad applications: Pre-trade analysis, market-making, automation, and portfolio pricing
In addition to FVMP, Trumid has developed and “delivered several data-led workflow solutions for clients.”
Trumid AutoPilot for RFQ, “an automated trading solution, was unveiled in 2024 and 81% of eligible Trumid RFQ line items executed “no touch” in February 2025.”
Similarly, Trumid PT Pricer, which estimates where “a list of names should transact as a portfolio trade versus single name execution, has played a significant role in the growth of that protocol.”
Over the past four years, Trumid has built its Data and Intelligence, and Automation teams by “adding experienced cross-industry experts in artificial intelligence and machine learning, pricing and analytics, trade automation, and software engineering.”
Most recently, the company announced the “appointment of Ryan Gwin to focus on the design, development, and distribution of customized data sets to clients.”