Trumid is an all-to-all electronic credit trading platform. It is designed to unlock liquidity and make bond and CDS trading easier for institutional clients. The company was founded in 2014 by credit professionals with over 100 years of trading experience and is headquartered in New York City. Trumid is a FINRA registered broker/dealer and SEC-regulated Alternative Trading System (ATS).
Trumid offers anonymous and efficient trading with low transaction costs. By concentrating the attention of the right participants at the right times in trading sessions called Swarms, Trumid maximizes liquidity and provides superior price discovery and best execution. The platform is currently trading high yield, distressed and investment grade securities, and plans to launch CDS in the near future.
Trumid helps buyers and sellers navigate the often-opaque corporate bond market through a combination of technology and data. Trades on Trumid occur in Swarms, trading sessions that launch when compatible orders exist. The “Swarm on Demand” feature gives users the ability to initiate trading sessions on any of roughly 32,000 corporate securities. A combination of lit and dark protocols on the platform allows for match optimization and price discovery.