Trumid Announces Growth Financing

NEW YORK, Sept. 18, 2018 /PRNewswire-PRWeb/ -- Trumid, a financial technology company and electronic trading platform for corporate bonds, has received a growth capital investment to further scale its US corporate bond business as well as to support the expansion of protocols, products and geographies. To date, the size of the financing round is US$53mm.

Trumid has a large and diverse user network of 400 buy-side and sell-side institutions. Trumid's daily trading volume last quarter was over 3x higher than the prior-year period, and more traders have utilized the platform each month since the fourth quarter of 2017.

"This has been a major growth year for Trumid. This capital round enables us to continue delivering innovative solutions to the market and to expand our product footprint. We're thrilled about the new partners we've brought on board as well as the continued support from our existing investors," said Mike Sobel, President of Trumid.

Trumid's financing round was anchored by Singapore Exchange (SGX), a leading multi-asset exchange in Asia.

"Fixed income, which is one of SGX's strongest asset classes, is an area we are investing in as part of our multi-asset growth strategy. Our strategic investment in Trumid, backed by the success of its platform to date and the track record of its management team, opens the way for a deeper collaboration and broader opportunities," said Chew Sutat, Head of Equities and Fixed Income, SGX.

The partnership will allow Trumid to gain access to the Asian market, leveraging SGX's regional expertise and footprint. "Asian investor participation in US corporate credit markets is increasingly important. We look forward to leveraging SGX's established network in Asia to deliver global access to US dollar credit product," added Sobel.

This strategic relationship complements Trumid's existing partnership with Deutsche Börse Group, which also participated in this financing round.

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. Trumid was founded in 2014 by credit professionals with over 100 years of trading experience and is headquartered in New York City. Learn more at: http://www.trumid.com

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SOURCE Trumid