ION upgrades connectivity to support Trumid’s direct liquidity
“We are eager to continue working with ION to provide these traders with access to Trumid’s anonymous liquidity pool.”
ION Markets has upgraded its connectivity to support Trumid and its disclosed dealer-to-client negotiation protocol, Attributed Trading.
The protocol runs through the ION Credit solution, thus allowing Trumid to provide additional benefits, including access to diverse market data sources, powerful automation for Axe and Run management, and ION’s advanced pricing engine.
Access to Trumid’s anonymous liquidity pool
Trumid is a global provider of trading solutions for capital markets and is specialized in bond trading, with its platform offering differentiated trading solutions for its community of users.
The fintech firm features a proprietary Attributed Trading protocol that provides liquidity directly to its institutional clients.
The Trumid gateway supports Axe contribution and post-trade functionalities, providing flexible negotiation options for users. ION Credit’s upgraded solution builds on previous versions and, among other things, adds market data sources and enhances the pricing engine.
ION Credit’s automation features give traders sophisticated inquiry management and configurable auto-negotiation. Covering multiple markets, the ION Desktop user interface allows dealers to manage workflows for multiple markets from a single screen. This allows orders, trades, and allocations to flow seamlessly downstream.
ION Credit’s fully modular technology easily scales with businesses, integrates with third-party systems and technologies, and offers intelligent quote management.
Lauren Burd, Head of Product Sales at Trumid, said: “An important goal at Trumid is to promote efficiency and streamline our client’s workflows. Our continued collaboration with ION has enabled sell-side traders to distribute their axes seamlessly and negotiate with their clients bilaterally. We are eager to continue working with ION to provide these traders with access to Trumid’s anonymous liquidity pool.”
Andrea Alberio, Product Manager at ION Markets, commented: “We’re passionate about innovation and workflow automation, working closely with our customers to meet their evolving needs and transform their businesses. We are particularly excited to support Trumid through ION Credit, which overcomes the complexity and fragmentation of credit markets and equips users to deliver fast, accurate service.”.
JP Morgan joined Trumid protocol
In December 2021, the banking giant joined Trumid’s trading platform and client network as a strategic partner.
J.P. Morgan will utilize Trumid’s protocol and both firms will work together to integrate workflows and deliver innovative market structure solutions for the credit market.
Trumid uses a differentiated approach to fintech which has driven 72% year-over-year total reported volume growth in the month of November and a 55% increase in users executing trades daily.
Its agile thought process has allowed Trumid to expand its set of trading protocols that integrate with its users’ workflows and offer an ecosystem of liquidity options.