Bond market operator, Trumid, reported record trade volume and user participation in January 2024, claiming average daily volume (ADV) of US$6.4 billion, up 90% year-over-year (YoY) across combined investment grade (IG) and high yield (HY).
Trumid reported a January high yield volume increase of 23% YoY, despite overall high yield market volume and electronic high yield volume remaining relatively flat.
The firm also saw its volume and user engagement in each of its individual trading protocols and across all Trumid traded market segments – investment grade, high yield and emerging markets bonds – reach new heights.
Trumid RFQ enjoyed its eighth consecutive month of sequential growth, with traded volume up nearly 50% month-on-month. The firm said buy side engagement continues to grow, with 150 buyside traders responding to Trumid RFQs in January. More than 1,100 unique users have reportedly executed an RFQ trade since launch.
Trumid Swarms and Trumid Attributed Trading (AT) protocols saw increased buy side participation with the number of users trading up 50% YoY in AT and more than 100% in Swarms.
Trumid continued to strengthen its new issue market share with increased user participation and record average daily trading volumes. Trumid reportedly accounted for an average of 37% of new issue secondary traded volume in the first two days of trading.
©Markets Media Europe 2024
