Soros Fund Management (SFM) is reportedly backing TruMid, a bond trading startup staffed by traders formerly at Goldman Sachs and other tier one firms. The firm is one of a number of startups hoping to take advantage of growing demand for digital bond trading at a time where many, including regulators, are concerned about reduced liquidity. TruMid launched in earlier this month 20﻿15, initially trading high-yield and distressed bonds; it added investment-grade bonds April and plans to launch CDS trading in 4Q15. Trading on the platform is focused on 10 minute periods, called swarms, designed to focus liquidity in pre-defined windows. Representatives from SFM have declined to comment.
Soros Fund Management (SFM) is reportedly backing TruMid, a bond trading startup staffed by traders formerly at Goldman Sachs and other tier one firms. The firm is one of a number of startups hoping to take advantage of growing demand for digital bond trading at a time where many, including regulators, are concerned about reduced liquidity. TruMid launched in April 20﻿15, initially trading high-yield and distressed bonds; it added investment-grade bonds earlier this month and plans to launch CDS trading in 4Q15. Trading on the platform is focused on 10 minute periods, called swarms, designed to focus liquidity in pre-defined windows. Representatives from SFM have declined to comment.