Electronic bond trading platform announces record monthly activity
NEW YORK, March 7, 2024 /PRNewswire-PRWeb/ -- Trumid, a financial technology company and fixed income electronic trading platform, today announced record trade volume and user participation highlights for February 2024.
February Highlights:
- Record reported average daily volume (ADV) of $6.4B, up 73% year-over-year.
- Record high yield market share, up 43% year-over-year and 11% month-on-month.
- Record client engagement with 48% more users trading daily on the platform compared to a year ago. Over 1,300 traders transacted on Trumid for the second month in a row.
- Trumid's growing client network of 838 buy-and sell-side institutions were active across each of Trumid's individual trading protocols in February. A record number of unique users executed a trade across one or more of all Trumid protocols in the month.
- Trumid PT traded a record number of lists with a record number of counterparties trading each day. The protocol is proving particularly valuable at month end, capturing a greater concentration of trades, active traders, and organic volume.
- Trumid RFQ saw continued client adoption with new monthly records for the number of RFQ initiators and RFQ responders within the Trumid network. A record number of unique users traded Trumid RFQs in February. The daily average number of users trading in Trumid RFQ has grown over 3x since the launch of Trumid Disclosed RFQ in May 2023.
- Trumid Swarms enjoyed a record month for reported average daily volume, up 79% year-over-year. 30% more traders transacted daily in the protocol than a year ago.
- Trumid continued to strengthen its new issue market share across both investment grade and high yield, accounting for an average of 43% of new issue secondary traded volume in the first two days of trading. A record number of users traded new issues on Trumid across a variety of sectors and capital structures in February.
- Trumid's strong high yield momentum continued into February with a record number of users engaging across all Trumid trading protocols driving ADV and market share to record highs. Trumid's February high yield volume was up around 50% versus February 2023.
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. Trumid Financial, LLC is a broker dealer registered with the U.S. Securities and Exchange Commission ("SEC") and is a member of FINRA and SIPC.
Media Contact
Trumid Press, Trumid, 1 2126180300, [email protected], www.trumid.com
SOURCE Trumid
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