Fixed income e-trading platform, Trumid, has expanded its liquidity offering to include emerging markets bonds. Trumid said it had experienced record growth this year, with volumes up 430% year on year across a growing network of over 500 institutions.
“We’re very excited to be bringing the efficiency and connectivity of Trumid to emerging markets credit trading,” said Trumid founder and chief executive Ronnie Mateo. “We look forward to expanding our trading community to include EM participants and to work together to build best-in-class trading and workflow solutions.”
Trumid has established a dominant position in dealer streaming and bilateral dealer-client trading with its Market Centre platform, which receives streamed liquidity for more than 10,000 bonds each day.
The firm added that its expertise in fixed income, product design, and technology allows it to build an ecosystem of trading solutions tailored to a variety of markets.
In August, Trumid secured $200 million in a funding round led by Dragoneer Investment Group, with funds and accounts managed by both BlackRock and T. Rowe Price also participating.
The funding round, which also included private equity firm TPG, will support Trumid as it looks to expand its trading protocols and global footprint.
“Our investors are established experts in both technology and capital markets,” commented Mateo on the funding round. “They have deep experience working with companies like Trumid to realise the full scope of our vision. We’re thrilled to have them on our team… With our scaled network, top-notch technology, and the capital to expand those efforts, we’re excited to deliver on the next round of great ideas.”