Trumid reported average daily trading volume of $9.6 billion for the third quarter of 2026, up 38% from a year earlier, as more clients used multiple execution protocols and automated credit-trading workflows. September ADV reached $9.9 billion, increasing 17% year over year.
The company compared this with estimated market-wide growth of 16% for the quarter and 8% for September, based on volumes reported through FINRA’s TRACE system.
Multiple Protocols Support Quarterly Growth
Trumid operates an electronic marketplace for US dollar-denominated investment-grade, high-yield, distressed and emerging-market bonds. Clients can choose between request-for-quote trading, portfolio trades, dealer streams, and other protocols depending on the size and structure of an order.
During the quarter, 60% of users who traded on Trumid used at least two protocols. Combined ADV across its RFQ and Portfolio Trading services increased 47% year over year, while activity through Swarms and Attributed Trading rose 36%.
Trumid’s growth came alongside broader gains in electronic US credit trading. Tradeweb reported record fully electronic US credit ADV of $11.1 billion in September, up 29.7% year over year, compared with Trumid’s $9.9 billion and 17% increase.
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Automated Workflows Process $170 Billion
Trumid provided additional detail on how that activity is being processed. Its Smart Voice and Smart Swap workflows handled more than $170 billion year to date, while adoption of its Full Self Trading execution agent continued to expand.
The company estimates that the two workflows eliminated about 240,000 manual clicks. Adoption also increased for Full Self Trading, an automated agent that can execute orders across multiple Trumid protocols.
The tool was used for block trades and grey-market activity, with approximately one-third of its orders involving newly issued bonds. New issues were also an important source of September activity.
Trumid reported record numbers of clients transacting and Portfolio Trading lists completed during the month.
On the final day of the quarter, the platform said it handled more than 60% of secondary trading in new bond issues, although it did not disclose the underlying volume or methodology for that market-share calculation.
