Trumid has launched List Optimizer, a tool intended to help credit traders decide whether to execute a group of bonds as a portfolio trade or through requests for quotes. The company announced the launch on 2 November.[1]
The tool uses Trumid’s pricing and liquidity information to assess a list at both portfolio and individual-bond level. Its comparison focuses on expected net proceeds, so the decision concerns the economics of the complete package as well as the apparent price of each security.[1]
For a list containing both purchases and sales, List Optimizer can compare a combined portfolio trade with separate bid-wanted-in-competition and offer-wanted-in-competition lists. This matters because the value a dealer assigns to the package can differ from the sum of prices available for isolated bonds.[1]
The execution choice
| Route | What the trader is evaluating |
|---|---|
| Portfolio trade | A price for the package of bonds as a whole |
| RFQ-based execution | Competitive quotes for the relevant bonds or lists |
| Mixed buy/sell list | Whether to keep both sides in one package or split them |
| Live handoff | Move from the comparison into the supported execution workflow |
Trumid says the tool connects the analytical comparison to live quotation and execution workflows. That makes it a protocol-selection aid within a trader’s existing list process, rather than a separate report that must be manually translated into orders.[1]
Expected proceeds remain an estimate until executable quotes are obtained. A model can indicate which route is attractive under its pricing assumptions, while live dealer responses, list composition and changing liquidity determine the transaction actually available. The launch does not include an independently measured saving across client trades.[1]
Sources & further reading
- Trumid Launches List Optimizer, Advancing Data-Driven Protocol Selection in Credit Trading Trumid · 2 Nov 2026 · Accessed 4 Nov 2026