Trumid, a New York-based technology vendor focused on the corporate bond market, has come to terms to Electronifie, a competitor that also specializes in corporate bonds.
The deal is expected to close in early Q2 of 2017. Terms of the deal were not disclosed. Once approved, over 350 firms will sit on Trumid Market Center, the vendor’s all-to-all trading network for corporate bonds.
“We pride ourselves on building a strong user network and delivering great products that make corporate bond trading easier. Trumid continuously strives to improve all aspects of our clients’ trading experience,” said Mike Sobel, president of Trumid, in a statement. “The Electronifie team shares that vision and the combination of our networks will enhance the all-to-all liquidity available on the Trumid platform.”
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