New York, January 9, 2024 – Trumid, a financial technology company and fixed income electronic trading platform, today announced trade volume and user participation highlights for December and for the full year of 2023.
December Highlights:
- 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 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 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.
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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.