Trumid Lifts April Credit ADV to $10.2 Billion as Rivals Post Double-Digit Declines
Updated
Updated · The DESK · May 13
Trumid Lifts April Credit ADV to $10.2 Billion as Rivals Post Double-Digit Declines
1 articles · Updated · The DESK · May 13
Trumid reported $10.2 billion in April average daily volume, up 1% from March and 34% from a year earlier, standing out in a weaker US electronic credit market.
FINRA TRACE showed combined US high-yield and investment-grade ADV fell 15% month on month to $60 billion, while lower volatility and tighter credit spreads weighed on activity at larger rivals.
MarketAxess's US credit ADV dropped 24% from March to $8.3 billion, including $6.8 billion in investment grade and $1.5 billion in high yield, implying about 14% of TRACE volume.
Tradeweb's US credit ADV fell 14.5% month on month to $9.1 billion, though its fully electronic high-yield flow still rose 7% to $1.3 billion.
Trumid said RFQ and portfolio-trading ADV climbed 44% year on year, RFQ alone jumped 118%, and Smart Voice processed $1 billion over the month, suggesting protocol gains helped it outgrow the broader slowdown.
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