New York, September 8, 2023 – Trumid, a financial technology company and fixed income electronic trading platform, today announced trade volume and user participation highlights for the month of August 2023.
August Highlights:
- Reported average daily volume (ADV) of $3B, up 44% year-over-year.
- Increased high yield asset manager participation was seen across all Trumid protocols in August with U.S high yield market share up 65% versus August 2022.
- The number of unique bonds traded on Trumid doubled year-over-year with August setting a new all-time high. Over 1,000 users transacted on the platform for the eighth consecutive month.
- Increased buy- and sell-side client adoption of Trumid’s newer list-based trading protocols drove record Trumid RFQ and record Trumid PT traded volumes in August. Over 900 traders have used RFQ since launch. The number of PT lists traded on the platform was up 36% month-on-month.
- Trumid rolled out its newest RFQ workflow innovation – Grey RFQ trading. Trumid clients can now trade grey bonds using Trumid RFQ, providing a unique workflow for trading and price discovery into new bonds coming to market. Trumid dominates secondary trading of new issues with outsized market share in the first several days after issuance. Over 1,200 clients have transacted in new issues on Trumid year-to-date, accounting for approximately one-third of all secondary market trading in new issues. Roughly 25% of this volume on Trumid traded in the grey market.
Trumid press
press@trumid.com
+1 (212) 618-0300
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.