Orrick advised Deutsche Börse Group in its strategic partnership with Trumid, a financial technology company that provides an electronic trading network for corporate bonds.
The Group will invest US$10 million for a minority stake as an add-on to Trumid’s previously disclosed US$28 million financing from earlier this year. Trumid will use the new funding to continue enhancing and expanding its technology offering. Both firms will work together to develop products and services for the European market.
Deutsche Börse Group is one of the largest exchange organizations worldwide. It organizes markets characterized by integrity, transparency and safety for investors who invest capital and for companies that raise capital – markets on which professional traders buy and sell equities, derivatives and other financial instruments according to clear rules and under strict supervision. Deutsche Börse Group, with its services and systems, ensures the functioning of these markets and a level playing field for all participants worldwide.
Trumid Financial, LLC, a FINRA-registered broker-dealer and wholly-owned subsidiary of Trumid Holdings, LLC, is a financial technology company bringing efficiency to credit trading through data, technology and beautifully simple products. Trumid Market Center, the company’s all-to-all electronic trading and market intelligence platform, provides corporate bond market professionals with direct access to anonymous liquidity. Trumid’s products leverage the network effect and data science to empower all credit market participants to make more informed decisions. Trumid was founded in 2014 by credit professionals with over 100 years of trading experience and is headquartered in New York.
The cross-border Orrick team advising Deutsche Börse Group was led by Munich Capital Markets partner Timo Holzborn, who has previously advised Deutsche Börse Group in other matters. The team further included partner Peter Rooney (M&A and Private Equity, New York), associate Maria Bergenhem (M&A and Private Equity, New York) and associate Raoul Müller (M&A and Private Equity, Munich).