Trumid, a financial technology company bringing trading efficiency and market intelligence to credit professionals, has announced a record month of activity in March on Trumid Market Center, the company’s electronic bond trading platform. The Trumid platform has a variety of tools and features available to clients that have become increasingly valuable in current market conditions.
In March, Trumid monthly trade volumes surpassed $20B for the second time this year, increasing 490% year-over-year. Trumid’s anonymous protocol proved particularly valuable as a price discovery and execution mechanism during volatile market conditions. User activity hit record levels, with anonymous volumes exceeding January’s record by over 40%. Breadth of liquidity increased as well, with nearly 1,000 unique bonds trading on the platform in March. Fintech News
Grey market and new issue trading were very important for Trumid’s users during the record primary issuance month – 12% of estimated market-wide volume in the month’s 25 most active new issues occurred on the Trumid Market Center. In addition, 8% of estimated market-wide volume in the month’s 25 overall most active securities occurred on Trumid.
Trumid prides itself on a nimble technology infrastructure. In response to rapidly evolving working conditions for its users, Trumid released new functionality in March to occupy less screen real estate and streamline navigation of the platform. “March was an unprecedented month in our lives and the financial markets,” remarked Mike Sobel, President of Trumid. “We are proud to be a trusted technology partner to our clients and to provide flexible solutions for disrupted workflows.”