Companies
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Trumid
Fintech
Trumid is a New York-based electronic trading platform specifically designed for trading corporate bonds, aiming to bring more efficient, electronic trading technology to a market that has historically relied heavily on manual, phone-based trading.
-$27.77
5.63%
30 days ago
$493.11
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Trumid was founded in 2014 by Mike Sobel, based on the observation that the corporate bond market, unlike equities markets which have been dominated by highly automated, electronic trading for decades, has historically remained much more reliant on manual, phone- and relationship-based trading between institutional investors and bond dealers, a market structure that many market participants and observers have argued creates less efficient price discovery and higher trading costs than a more electronically automated market structure might achieve, given how much of corporate bond trading still depends on individual traders manually communicating and negotiating trades over the phone rather than through automated electronic order matching systems more common in equity markets. Trumid's platform provides electronic trading technology specifically designed for corporate bond trading, aiming to bring more of the automated, electronic order matching and price transparency benefits that have long characterized equity market trading to the historically less electronically automated corporate bond market, addressing persistent industry discussion about corporate bond market structure inefficiency relative to more electronically mature equity markets. The company has built relationships with a range of institutional bond market participants, including asset managers, hedge funds, and bond dealers, working to build sufficient trading liquidity and participant adoption on its electronic platform to make it a genuinely useful alternative or complement to traditional phone-based corporate bond trading, a challenge common to electronic trading platforms in historically less automated markets, since a trading platform's usefulness depends significantly on achieving sufficient participant adoption and liquidity to reliably find trading counterparties, creating a chicken-and-egg adoption challenge that new electronic trading venues in less automated markets must work to overcome. Trumid has positioned its technology as part of a broader industry-wide trend toward increasing electronic trading adoption in corporate bond markets, a trend that has gradually accelerated over the past decade even as corporate bonds have generally electronified more slowly than equity markets did decades earlier. The company's customers span institutional bond market participants including asset managers and bond dealers. Trumid has raised substantial venture funding from investors including CPP Investments, Point72 Ventures, and Citadel Securities, reaching unicorn status, competing with other electronic bond trading platforms including MarketAxess and Tradeweb.
FOR QUALIFIED INSTITUTIONAL AND ACCREDITED INVESTORS ONLY: Under federal securities laws, private market investments on this platform are available exclusively to Institutional and Accredited Investors. Verification of status required before investing. Private investments involve significant risks including illiquidity, potential loss of principal, and limited disclosure requirements. "Augment" refers to Augment Markets, Inc. and its affiliates. Augment Markets, Inc. is a technology company offering software and data services, not a bank or financial institution. Cash Accounts are provided by Modern Treasury Corp. financial institution partners and through Augment's technology. Augment does not act as a money services business, provide money transmission, or serve as a custodian of funds. Funds held in your Cash Account are not FDIC insured unless expressly disclosed. Full terms available in the Augment Cash Account Agreement. Brokerage services are offered through Augment Capital, LLC, an affiliated broker-dealer and member FINRA/SIPC. "Investment accounts" are not brokerage accounts and do not hold customer funds or securities. Investment advisory services are offered through Augment Advisors, LLC, an SEC-registered investment adviser. Registration with the SEC does not imply a certain level of skill or training. Neither Augment Advisors, LLC nor Augment Capital, LLC provide legal or tax advice; consult your attorney or tax professional regarding your specific situation. For additional information, please refer to Augment Advisors, LLC's Form ADV Part 2A (Firm Brochure) and FINRA BrokerCheck.
