Credit ATS operator Trumid is working on providing an evaluated pricing model to its users, according to company officials.

Trumid has not decided whether it would deliver the new offering via its existing Bond Stream feature, Mike Sobel, president of Trumid, told Markets Media.

“It remains to be seen, but we will continue to expand upon the concept,” he said.

Bond Stream, which Trumid announced earlier this year, scans Finra’s Trace trade-reporting database, highlights recent trade prints, and indicates to users which items on their watchlists may be liquid enough to trade.

“If you think holistically about what Bond Stream is, it’s a market signal that happens to be in the form of a trade report,” said Sobel.

The evaluated pricing model would use the same Trace data as well as data taken from the ATS, which the system deems relevant to users based on their profiles on the platform.

In other Trumid news, the ATS operator expects to close its acquisition of rival credit ATS Electronifie, which the companies announced in March, in the coming weeks.
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“We are in the tail end of closing the deal,” he said. “We’re in the Finra review process since we both are licensed broker-dealers and there is an additional layer of scrutiny.”

However, this has not slowed Trumid from integrating Electronifie personnel into the organization. “We’re adding some very talented people across our organization and we already are feeling the benefits from that,” said Sobel.

Trumid is also taking this time to educate Electronifie clients about the Trumid liquidity pool. “That is so they can hit the ground running once we have a combined network in several weeks,” said Sobel.

Since Trumid’s and Electronifie’s platforms rely on OpenFin’s operating layer, Electronifie clients will have instant access to Trumid’s platform the day the deal closes without needing to deploy new software. “From a technology perspective, users will find it business as usual, which is completely essential,” he added.