Electronic Bond Trading Gains Ground
- TruMid saw January volume more than double to $2 billion
- It’s ‘here to stay,’ even as Wall Street maintains its grip
This article is for subscribers only.
Electronic trading in the $8 trillion U.S. corporate-bond market is beginning to heat up.
In January, TruMid Financial LLC, a bond-trading startup backed by billionaires Peter Thiel and George Soros, recorded its best month ever with over $2 billion in volume, more than double the same period in 2017. The growing success of the 2015 venture is the latest sign that new technology is making its mark on the bond market, even as Wall Street maintains a strong grip on a business still done by phone or chat, where larger trades still pose a challenge.