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Trumid, a financial technology company and leading fixed income electronic trading platform, has reported record trading volumes and market share for January 2026, with average daily volume reaching $9.9 billion.
The platform's average daily volume grew 44% year-on-year and more than doubled month-on-month, outpacing the 28% year-over-year market-wide volume growth reported by TRACE.
Mike Sobel, Co-CEO & President, Trumid
Mike Sobel, Co-CEO & President, Trumid, said:
"January was another breakout month for Trumid, with investment and client collaboration from 2025 translating into a clear step function in activity to start 2026. We expect the year to bring robust market activity and market structure progress. January reinforced that we're deeply embedded in client workflows and positioned us to continue delivering enhancements and innovation across our broad and engaged client base."
He added:
"We entered 2026 with strong momentum from 2025 and accelerated from there. January saw record overall platform market share, volume, and engagement, driven by broad-based adoption across Trumid RFQ, Portfolio Trading, Swarms, and Attributed Trading, along with a record number of traders transacting daily. Average daily volume reached $9.9 billion, up 44% year-over-year and more than doubling month-over-month."
The platform's overall market share increased 12% year-on-year, whilst its U.S. Investment Grade market share rose 21% over the same period.
List-based trading showed particular strength, with combined Trumid RFQ and Trumid PT average daily volume up 130% year-on-year. Buy-side trader participation increased, with 54% more traders executing daily across both protocols compared with the same period last year.
Sobel noted:
"List trading continues to drive activity growth on Trumid, representing an increasing share of total platform volume. Combined RFQ and Portfolio Trading ADV increased 130% year-over-year in January. This rapid growth is supported by our integrated client network and differentiated workflows, analytics and pricing tools."
Trumid RFQ delivered $1.4 billion in average daily volume, with both traded volume and trade count more than doubling year-on-year and growing more than 50% month-on-month. The platform's liquidity provider network of 86 live participants drove the record volumes, with 87% of eligible RFQ line items executed via Trumid AutoPilot for RFQ without manual intervention.
Trumid PT average daily volume increased 92% year-on-year, outpacing TRACE portfolio trading growth of 73%. The platform recorded a record number of PT lists traded in a single day during month-end activity.
In the new issue secondary trading market, Trumid accounted for approximately 44% of trading in deals during the first two days after issuance across its Swarms and Attributed Trading protocols.
More than 11,800 unique bonds traded on Trumid in January, with over 1,500 traders transacting on the platform.
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