Trumid launches new tools to make e-bond trading easier
Soros-backed Trumid Financial has launched Market Center, its new all-to-all digital marketplace for corporate bonds and CDS. The new product aims to unlock liquidity by facilitating efficient and anonymous access within its network of dealers from both the buy-side and the sell-side. The new platform introduces “Swarm on Demand”, a feature which gives users the ability to initiate Swarms on any of the securities on its system at any time during the day, sweeping a combination of lit and dark protocols. The company also announced it has raised $10m from a group led by Delphi Financial, adding to the $26m raised in a previous round that included George Soros and Peter Thiel.

“Electronic trading of corporate bonds expanded in 2015,” said Ronnie Mateo, Founder and CEO of Trumid. “Liquidity is consistently one of our clients’ biggest concerns and they are eager to join us in our efforts to make trading easier.”

Trumid, an all-to-all electronic credit trading platform, has announced the launch of the Trumid Market Center. The new product is designed to unlock liquidity for all market participants by giving them efficient and anonymous access to a network of their peers. Since the launch of its original platform last year, the FinTech startup has attracted a network of nearly 275 onboarded institutions from the buy side and the sell side. Trumid remains focused on institutional-sized trades, with an average trade size over $2 million.

“Since our launch last year, we have been focused on bringing our technology fully in-house, increasing functionality, flexibility, and ease of use,” said Mike Sobel, President of Trumid. “In a year of operating, we have learned a lot through analysis and collaboration with our clients to ensure the new platform meets and anticipates their needs. We are quite proud to be able to iterate so quickly, incorporating all that we’ve learned into a fully proprietary platform.”

Trumid’s new Market Center is focused on driving strong user experiences. The company has introduced a number of new interface and protocol features that respond to the idiosyncrasies of the credit market. Trumid helps buyers and sellers navigate the often-opaque corporate bond market through a combination of technology and data. Trades on Trumid occur in Swarms, trading sessions that launch when compatible orders exist. The new platform introduces “Swarm on Demand,” whereby users have the ability to initiate Swarms on any of roughly 32,000 corporate securities at any time during the trading day.

Key Features of Trumid’s Market Center Include:



“Swarm on Demand” – Trading sessions launched when compatible orders exist

Combination of lit and dark protocols, optimizing matches and enabling price discovery

Tailored notifications based on user preferences and inputs

Customizable interface that seamlessly integrates into both buy side and sell side users’ workflow

“Electronic trading of corporate bonds expanded in 2015,” said Ronnie Mateo, Founder and CEO of Trumid. “We are confident that this will continue to increase, and we are witnessing great enthusiasm from our users. Liquidity is consistently one of our clients’ biggest concerns and they are eager to join us in our efforts to make trading easier.”

All elements of Trumid’s Market Center are compatible for integration with its users’ own order management and trading systems, making for an efficient and seamless user experience. Additional new features include a customizable interface, watch lists and preferences, tailored notifications, and protocols designed to optimize execution and ‘hit rates.’

About Trumid

Trumid is an all-to-all electronic trading platform designed to unlock liquidity for institutional clients and make bond and CDS trading easier. The company was founded in 2014 by credit professionals with over 100 years of trading experience and is headquartered in New York City. With trade volumes of nearly $4 billion and an average trade size of over $2 million, Trumid offers anonymous and efficient trading with low transaction costs. By concentrating the attention of the right users at the right times in trading sessions called Swarms, Trumid maximizes liquidity and provides superior price discovery and best execution. Find us at: http://www.trumid.com