New York, September 9, 2024 – Trumid, a financial technology company and fixed income electronic trading platform, today announced trade volume and user participation highlights for August 2024.
August Highlights:
May marked another strong month of growth and deepening platform engagement, with record traded volume in Trumid RFQ and accelerating buy-side adoption across Trumid’s list trading protocols.
- Reported Average Daily Volume (ADV) of $5.0B, up 65% year-over-year.
- Overall market share up 24% year-over-year across U.S. investment grade and high yield corporate bonds.
- Strong client uptake of Trumid RFQ translated into record traded volume and record month-on-month growth in traded volume in August, up around 40% versus July 2024.
- In an active summer month for U.S. dollar bond issuance, Trumid continued to strengthen its new issue market share. Across both investment grade and high yield, Trumid accounted for more than a third of all new issue secondary trading of deals in the market during the first two days of trading. The daily average number of users executing a trade more than doubled year-over-year in Trumid’s Swarms protocol.
- Record platform participation in August resulted in 43% more users trading each day on Trumid compared to a year ago. The majority of traders transacted in more than one Trumid protocol.
- Over 9,000 bonds traded on the platform for the fifth consecutive month and over 1,300 users transacted on Trumid for the eighth consecutive month.
Trumid press
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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.