Trumid is reporting its December performance and 2023 trading highlights.
Trumid, which is an electronic bond trading platform, has announced monthly activity and year-end highlights.
Trumid, a financial technology company and fixed income electronic trading platform, shared recently its trade volume and user participation highlights for the month of December 2023 and for the full year of 2023.
Trumid shared December Highlights as follows:
- Reported average daily volume (ADV) of $2.9B, up 110% year-over-year.
- Overall market share up 70% year-over-year across U.S. high yield and investment grade corporate bonds.
- Over 1,000 users traded on the platform for the twelfth consecutive month.
2023 Highlights:
- Increased client activity and protocol adoption by a growing and engaged user network of over 800 buy-and sell-side institutions. Reported trade volume grew 73% year-over-year.
- Record market share with 67% market share growth year-over-year across U.S. high yield and investment grade corporate bonds.
- Expanding breadth of client participation and rapid adoption of new protocols resulted in 50% increase in daily average users trading on the platform.
With a rebound in primary activity, Trumid claims that it “continued to be a leading source of liquidity with record market share of 32.5% in market wide new issue secondary traded volume in the first two days of trading.”
Trumid also announced its expansion “into list-based trading in February with the launch of Trumid Portfolio Trading (PT).”
In May, Trumid announced the network-wide “launch of its new Request for Quote (RFQ) offering.” The addition of Trumid PT and RFQ resulted “in significant growth contributions on the platform.”
- 150 unique users executed a PT trade in 2023.
- RFQ saw consecutive month-over-month growth with close to 1,000 users executing an RFQ trade since its mid-year launch.
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.”
As noted in the update, Trumid explains that it is focused on “optimizing the credit trading experience by combining agile technology and market expertise, with a focus on product design.”
According to the firm, 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.”
