Deutsche Börse Group acquires $10m stake in Trumid

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fintech insurtech wealthtech regtech ai cybertech esg news

Deutsche Börse Group has acquired a minority stake in digital corporate bond trading platform Trumid, in a deal worth $10m.

New York-based Trumid is an online credit trading platform, enabling buy-side and sell-side market participants to transact anonymously. The platform has low transaction costs and targets the right participants for transactions during trading periods to help maximise liquidity and price discovery.

The platform simplifies the corporate bond market with its technology and data, giving access to around 32,000 corporate securities.

This capital will help the company improve and expand its technology with both companies set to work together to build products and services for the European market.

Deutsche Börse executive board member and cash markets head Hauke Stars said, “Trumid has already proven its ability to create a new transparent, electronic and efficient credit and bond market place in the US With our investment we will gain new insight into this rapidly evolving market; and therefore, we will find further ways to collaborate,”

Earlier this year Trumid picked up a $28m funding round. The company picked up around $44m in a pair of Series A funding rounds in 2015.

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