On Trumid, some 22,000 corporate bonds are available for traders to scout out demand. “We have been highly impressed with Trumid’s ability to use data and technology in developing an outstanding corporate bond trading platform," Lei Zhang, founder of Hillhouse, said when making the investment. The funding, in addition Trumid’s existing partnership in Singapore, means Sobel, Quinn and Mateo are plotting to eventually enter Asian debt markets. Presently, Trumid trades a small fraction of volume that flows through competitors, but it is targeting a more sizable—and valuable—part of the market. Tradeweb, which does hundreds of billions of dollars a day in electronic trades, reported $21 billion of corporate bond trading volume from January through August.

Source: Forbes February 12, 2020 14:22 UTC