Trumid, which provides an all-to-all electronic trading platform for corporate bonds, announced that over $1 billion in volume has been traded on its new Trumid Market Center.
The Trumid Market Center launched on June 30. Almost 300 institutions from both the sell and buy sides have been setup on the platform, with 80 percent of those users having been active on the platform and with over one-third having executed trades, according to the company.
Earlier this year, Trumid's president, Mike Sobel, detailed the firm's new "Swarm on Demand" capabilities where users can initiate a swarm ─ the term the company uses to describe its trading sessions ─ on any bond, at any point during the day.
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