<article><a href="https://www.dealstreetasia.com/?s=Singapore%20Exchange">Singapore Exchange</a> (SGX) has anchored a $53-million funding round in <a href="https://www.dealstreetasia.com/?s=Trumid">Trumid</a>, a venture capital-backed electronic trading platform for corporate bonds based in New York.</article>

<a href="https://www.dealstreetasia.com/?s=Singapore%20Exchange">Singapore Exchange</a> (SGX) has anchored a $53-million funding round in <a href="https://www.dealstreetasia.com/?s=Trumid">Trumid</a>, a venture capital-backed electronic trading platform for corporate bonds based in New York.
The startup, backed by venture capitalist Peter Thiel and hedge fund pioneer George Soros, said it is further scaling up its US corporate bond business with the latest fundraising.
The fresh funds will also support the expansion of protocols, products, and geographies. The round was joined by <a href="https://www.dealstreetasia.com/?s=Deutsche%20Borse Group">Deutsche Borse Group</a>, the German stock exchange operator.
Trumid president Mike Sobel said the partnership with SGX will allow Trumid to gain access to the Asian market, leveraging the Singapore bourse&#8217;s regional expertise and footprint.
&#8220;Asian investor participation in US corporate credit markets is increasingly important. We look forward to leveraging SGX’s established network in Asia to deliver global access to US dollar credit product,” he said.
Trumid, which opened for trading in 2015, is used by a network of 400 buy-side and sell-side institutions. Its electronic trading platform, Trumid Market Center, provides corporate bond market professionals with direct access to liquidity and market intelligence.
Fixed income is one of SGX’s strongest asset classes and an area where it is investing in as part of its multi-asset growth strategy, according to Chew Sutat, Head of Equities and Fixed Income at SGX.
“Our strategic investment in Trumid, backed by the success of its platform to date and the track record of its management team, opens the way for a deeper collaboration and broader opportunities,” Sutat said.
The latest investment brings Trumid&#8217;s total funding raised to $135.3 million. It first raised $8.3 million in March 2015 in a funding round led by Shumway Capital.
The startup also raised $36 million in a venture round led by Founders Fund and George Soros in November 2015 and another venture round in May 2017, raising $38 million led by Deutsche Borse.
Early this week, SGX also led a $44.4-million Series C funding round for logistics technology firm Freightos.
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The startup, backed by venture capitalist Peter Thiel and hedge fund pioneer George Soros, said it is further scaling up its US corporate bond business with the latest fundraising.

SGX leads $53m investment in NY-based electronic trading startup Trumid

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SGX leads $53m investment in NY-based electronic trading startup Trumid

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