New York, June 7, 2024 – Trumid, a financial technology company and fixed income electronic trading platform, today announced trade volume and user participation highlights for May 2024.
May Highlights:
- Reported Average Daily Volume (ADV) of $5.2B, up 57% year-over-year.
- Overall market share up 33% and U.S. investment grade market share up 36% year-over-year.
- Trumid’s strong high yield momentum continued into May. High yield traded volume on Trumid was up 42% year-over-year and market share up 22%. Growth was driven by a mix of elevated new issue and non-new issue high yield traded volume on the platform.
- 44% more users traded each day on Trumid compared to a year ago with the majority of traders transacting in more than one Trumid protocol.
- Trumid RFQ logged its twelfth consecutive month of sequential growth with record traded volume and continued record network adoption.
- Trumid PT set a new high for client engagement as a record number of counterparties traded each day in the protocol. Over 140 PT lists traded in the month.
- Trumid Swarms saw traded volume increase 35% year-over-year. 95% more users traded each day in the protocol compared to a year ago.
- Trumid Attributed Trading (AT) saw record network participation, aided by almost 60 major dealers and leading algorithmic liquidity providers streaming actionable market data into Trumid’s AT network.
- Trumid continued its rapid pace of product development through the month. 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 over 60% of their RFQ trades now being auto executed. With a full ecosystem of trading protocols to offer clients, AutoPilot is just the beginning of automation on the Trumid platform.
- Trumid PT Pricer™ – Trumid’s newest pre–trade analytics tool also launched in May. Designed to accurately estimate where a PT list should transact, Trumid PT Pricer considers specific features of a list and market context, and ticks in real-time, providing updates on where execution should happen on a Trumid client list. By embedding powerful analytics directly in-app, network clients can leverage Trumid PT Pricer to make more informed trading decisions and execute in one place. Trumid PT Pricer is now available in pre-trade views and coming soon to in-flight session views.
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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.