Trumid's February ADV Surges 37% YoY, Hitting $10.2B Milestone

Event summary

  • Trumid's Average Daily Volume (ADV) hit a record $10.2B in February 2026, up 37% year-over-year.
  • List trading volume (RFQ + Portfolio Trading) surged 90% YoY, with Trumid RFQ volume up 148% YoY.
  • Overall platform market share increased 13% YoY, with U.S. Investment Grade market share up 23% YoY.
  • More than 11,000 unique bonds traded on Trumid for the third consecutive month.
  • Trumid handled 47% of all secondary trading in the first two days after issuance.

The big picture

Trumid's record ADV and market share gains reflect the accelerating shift toward electronic trading in fixed income markets. The surge in list trading and block-liquidity inquiries highlights asset managers' growing preference for efficient, scalable trading solutions. As new issuance volumes remain high, Trumid's dominance in secondary trading post-issuance positions it as a key player in the evolving credit trading ecosystem.

What we're watching

Sustainable Growth
Whether Trumid can maintain this pace of ADV growth amid potential market volatility.
Protocol Diversification
How the performance of legacy protocols like Swarms and Attributed Trading will evolve.
Client Engagement
The impact of deepening client engagement on long-term platform stickiness and revenue.

Related topics

Market Share