"Libertarian" venture capitalist Peter Thiel and billionaire George Soros are leading a $25 million investment in electronic bond-trading startup TruMid Financial LLC, reports Bloomberg.
TruMid’s method of providing bond market liquidity borrows from a concept pioneered by Goldman Sachs, and known as GSessions. Instead of a continuous market for each security, TruMid runs what it calls “swarms,” or brief sessions where asset managers and dealer banks can come together to buy and sell a particular bond, according to Bloomberg.
-RW
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