Market Overview

Trumid Announces Strategic Partnership with Barclays to Advance Corporate Bond Market Structure

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NEW YORK, Feb. 19, 2020 /PRNewswire-PRWeb/ -- Trumid Financial, the New York-based financial technology company and electronic trading platform for corporate bonds, today announced a strategic partnership with Barclays. Barclays will join Trumid's Trading Advisory Committee to collaborate on trading and workflow protocols and future product development.

Trumid's new Attributed Trading protocol, released in 2019, facilitates direct connectivity between dealers and their clients. Attributed Trading allows for liquidity distribution, bilateral negotiation and trade execution, providing pre-trade transparency and valuable data capture. Recent enhancements to this workflow have focused on tools for dealer salespeople, creating operating efficiencies and visibility into trade negotiations and historical counterparty activity. Trumid has worked closely with Barclays and its other strategic partners on this new sales-centric functionality.

"Using technology to maximize productivity and enrich our clients' engagement with Barclays is our top priority," said Drew Mogavero, Co-Head of US Credit Trading. "We are committed to delivering high-quality data, actionable liquidity and insightful market research to our clients in the most efficient way possible."

"We are supportive of the continued growth and expansion of electronification in credit. We believe innovation, competition and diversification of protocols are necessary for a healthy electronic market and are critical to the further evolution of credit trading," added Justin Lada, Global Head of Electronic Strategy for Credit Trading.

Trumid's trading platform aims to bring efficiency to credit trading through data, technology, and intuitively designed products. "User collaboration is at the core of our product and technology development process," said Mike Sobel, President of Trumid. "We're thrilled to add Barclays to our Trading Advisory Committee." Trumid's user network now includes nearly 475 institutions, whose activity drove a 325% increase in trading volumes from January 2019 to January 2020.

About Trumid
Trumid is a financial technology company bringing efficiency to credit trading through data, technology and innovative products. Trumid Market Center, the company's electronic trading platform, provides corporate bond market professionals with direct access to liquidity and market intelligence. Trumid's products leverage the network effect and data science to empower all credit market participants to make more informed decisions. Learn more at: http://www.trumid.com

Information included in this message does not constitute a trade confirmation or an offer or solicitation of an offer to buy/sell securities or any other products. There is no intention to offer products and services in countries or jurisdictions where such an offer would be unlawful under the relevant domestic law.

 

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