TransFICC, a specialist in low-latency connectivity and workflow services for the Fixed Income and Derivatives markets, has successfully completed a $25m Series B investment. Leading the round was Citadel Securities, with significant participation from BlackFin Tech and a group of existing investors.
This new investment brings TransFICC’s total funding to $50m. Other notable contributors include AlbionVC, Citi, HSBC, Illuminate Financial, ING, and neosfer, the innovation unit of Commerzbank Group.
TransFICC focuses on providing essential infrastructure to the Fixed Income markets. The company is recognized for its innovative solutions that enable market participants to efficiently trade various Fixed Income products electronically.
The fresh capital will be used to expand TransFICC’s product offerings and increase its market presence. Recently, the company launched TransACT, an Automated Customer Trading platform, initially for Credit markets. This platform is now extending its reach to include Government Bonds, IRS, and Repo, in response to rising demands for automated trading solutions driven by structural changes in the market such as the rise of Fixed Income ETFs and all-to-all markets.
Additionally, TransFICC has been enhancing its technological infrastructure. The company has developed data centre hosting capabilities in North America, Europe, and Asia, which supports the hosting of client applications on the TransFICC platform to minimize latency. Plans are in place to further improve venue and workflow support, allowing clients to connect more quickly and cost-effectively.
Amit Bhuchar from Citadel Securities commented on the partnership, saying, “Citadel Securities has a long history of developing innovative solutions to help our clients and partners address their most complex liquidity and execution challenges. We are pleased to partner with TransFICC to shape the future of Fixed Income market making through increased automation, connectivity and efficiency.”
Michele Foradori from BlackFin Tech added, “TransFICC is providing a piece of critical infrastructure for Fixed Income markets. We are excited by the pace of innovation taking place in this space and fully embrace Steve, Judd and Tom’s vision to make TransFICC the go-to solution for all market participants to electronically trade any Fixed Income product.”
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