Trumid, a financial technology company and fixed income
electronic trading platform, today announced trade volume and user
participation highlights for June and Q2 2024.
NEW
YORK, July 9, 2024 /PRNewswire-PRWeb/ -- June
Highlights:
- Reported Average Daily Volume (ADV) of $4.7B, up 47% year-over-year.
- Overall market share up 27% across U.S. high yield and
investment grade corporate bonds.
- Trumid PT set a new high for client engagement as a record
number of counterparties traded each day in the protocol.
- Around 40% more users traded daily on the platform compared to
a year ago. Over 1,300 traders transacted on Trumid for the
sixth consecutive month.
Q2 2024 Highlights:
- Increased client activity and protocol adoption were driven by
a growing and engaged user network of more than 860 buy-and
sell-side institutions. ADV grew 61% versus Q2 2023 and overall
market share was up 30%.
- The majority of traders transacted in more than one Trumid
protocol, proving the benefits of offering clients everything they
need in one place - valuable network liquidity, a broad range of
trading protocols, integrated pre-trade pricing tools, market data,
and post-trade analytics, and automated corporate bond spotting and
hedging technology.
- Trumid PT enjoyed its sixth consecutive quarter of sequential
growth with record traded volume, up around 40%
quarter-over-quarter. A record number of counterparties traded each
day and over 450 PT lists traded in
the quarter.
- Trumid RFQ logged its fourth consecutive quarter of sequential
growth with record traded volume, up nearly 40%
quarter-over-quarter. Around 600 users initiated a Trumid RFQ in Q2
and around 700 users responded to an RFQ in Q2. Trumid RFQ's
integrated responder network includes all the top dealers and
several leading algorithmic liquidity providers.
- Trumid Swarms and Trumid Attributed Trading saw continued
growth and engagement with traded volume up over 40% year-over-year
in each protocol.
- Trumid continued to strengthen its new issue market share.
Across both investment grade and high yield, Trumid accounted for
an average of 36% of all market wide new issue secondary traded
volume in the first two days of trading.
- Trumid's strong high yield momentum continued into the second
quarter of 2024. Trumid's high yield ADV was up 32% year-over-year
and market share was up 17%. Growth was driven by a mix of elevated
new issue and non-new issue high yield traded volume on the
platform.
- Trumid continued its rapid pace of product development through
the quarter. New in-app enhancements included:
- Trumid AutoPilot™ – Trumid's entry into automated trading
solutions was rolled out for RFQ. Designed to ensure efficient
trade execution, AutoPilot uses pre-determined parameters, set by a
client, to allow the platform to seamlessly execute trades on their
behalf. Trumid clients that are utilizing this workflow are already
finding value with around 60% of their RFQ trades now being auto
executed.
- Trumid PT Pricer™ – Trumid's newest analytics tool launched in
May. PT Pricer estimates where a list of names should transact as a
PT and compares versus single name execution. The PT Pricer
accounts for list features and market context, and ticks in
real-time, providing live updates on where a list may be priced by
estimating transaction costs as a distance to mid. Analytics are
available both pre-trade and in-session.
Trumid press
+1 (212) 618-0300
press@trumid.com
About Trumid
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. Learn
more at www.trumid.com.
© 2024 Trumid Holdings LLC and its affiliates. All rights
reserved. Trumid Financial LLC is regulated by the SEC and is a
member of FINRA and SIPC. Information included in this message does
not constitute a trade confirmation or an offer or solicitation of
an offer to buy/sell securities or any other products. There is no
intention to offer products and services in countries or
jurisdictions where such an offer would be unlawful under the
relevant domestic law.
Media Contact
Trumid Press, Trumid, 1 2126180300, press@trumid.com,
www.trumid.com
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SOURCE Trumid