Trumid, an all-to-all electronic credit trading platform, has announced the launch of the Trumid Market Center which has been designed to unlock liquidity for all market participants by giving them efficient and anonymous access to a network of their peers.
Since the original platform was launched last year, the startup firm has attracted a network of nearly 275 onboarded institutions from the buy side and the sell side. The company focuses on institutional-sized trades, with an average trade size over $2 million.
Mike Sobel, President of Trumid, said: “Since our launch last year, we have been focused on bringing our technology fully in-house, increasing functionality, flexibility, and ease of use. We are quite proud to be able to iterate so quickly, incorporating all that we’ve learned into a fully proprietary platform.”
Swarm on Demand
The firm’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.
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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.
“Electronic trading of corporate bonds expanded in 2015,” added 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.”
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 customisable interface, watch lists and preferences, tailored notifications, and protocols designed to optimise execution and ‘hit rates.’