AFTAs 2016: Best Trading Infrastructure Provider—Trumid Financial
Trumid takes home the win in the category's inaugural year.
Trumid Financial has done just that in the corporate bond trading space with its latest offering, Trumid Market Center, which focuses on the user experience. The platform is built specifically for trading protocols native to corporate bonds, as opposed to a number of competing platforms, which are ostensibly equity trading platforms repackaged, repurposed and released under different names.
The ability to create a product geared to meet the direct needs of corporate bond traders comes from the New York-based vendor compiling a team that has deep knowledge of the industry, according to Mike Sobel, president of Trumid.
“Our team spent decades transacting in this market, and this experience allows Trumid to collaborate with our users to build a platform that fits into their workflow and lets them trade what they want, when they want,” Sobel says.
The focus on user experience has been a major goal of Market Center since its creation. Sobel says the firm recently introduced a number of new interface and protocol features aimed at addressing the idiosyncrasies of the credit market.
Those features include offering Swarms on Demand, which allows users to initiate Swarms (trading sessions that launch when compatible orders exist) on approximately 32,000 corporate securities. The firm has also added a Likelihood to Trade Score (LTS) that helps traders find bonds that seem likely to be traded in the near term.
The firm’s network of users weighs in at almost 300 buy-side and sell-side firms. It took just over a month for Market Center, which was launched in July 2016, to hit $1 billion in volume traded.
However, all the features in the world don’t matter if the platform doesn’t have buy-in participation from end-users. That hasn’t been a problem for Trumid, even in its early days. The firm’s network of users weighs in at almost 300 buy-side and sell-side firms. It took just over a month for Market Center, which was launched in July 2016, to hit $1 billion in volume traded.
And while the firm has shown early signs of success, Trumid gives no indication of slowing down its drive to address customers’ needs.
“Since the company’s initial launch in April 2014, Trumid had been focused on bringing our technology fully in-house, increasing functionality, flexibility, and ease-of-use,” Sobel says. “We learned a lot through analysis and collaboration with our clients to ensure the new platform meets and anticipates their needs.”
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
Witad Awards 2024: Rising star (vendor) – data, engineering & product development—Roberta Bill, SmartStream Technologies
Roberta Bill, product manager at SmartStream Technologies, wins rising star (vendor) – data, engineering & product development, in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: Technology leader of the year (end-user)—Sejal Shah, BNP Paribas India Services
Sejal Shah, director and head of Global Markets IT BNP Paribas India Services, wins technology leader of the year (end-user) in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: Reference data professional of the year (end-user)—Ludmilla Morgunova, BNP Paribas
Ludmilla Morgunova, Java developer on BNP Paribas’ Referential Data Platform, wins reference data professional of the year (end-user) in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: Vendor professional of the year (trading and risk)—Mina Wallace, SS&C Algorithmics
Mina Wallace, general manager and senior vice president of the risk management business unit at SS&C Algorithmics, wins the vendor professional of the year (trading and risk) in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: Above and beyond award (vendor)—Susan Bennett, Tradeweb
Susan Bennett, managing director, global head of product marketing at Tradeweb, wins the above and beyond award (vendor) in the 2024 Women in Technology and Data Awards.
Women in Technology & Data Awards 2024: All the winners and why they won
WatersTechnology honored the winners of the 36 categories in the 2024 Women in Technology & Data Awards, who were announced at a sit-down lunch in London on International Women's Day on March 8.
AFTAs 2023: Best new technology introduced over the last 12 months (data & data services)—SS&C Aloha
Northern Trust: Improving transparency across the asset servicing market
Northern Trust won three categories in the 2023 American Financial Technology Awards. Paul d’Ouville, global head of technology solutions and servicing at Northern Trust, discusses his firm’s fourth consecutive win in the Best reporting initiative…
Most read
- Women in Technology & Data Awards 2024: All the winners and why they won
- Witad Awards 2024: Above and beyond award (vendor)—Susan Bennett, Tradeweb
- Fighting FAIRR: Inside the bill aiming to keep AI and algos honest