TransFICC Secures $25M to Revolutionize Fixed Income Market Connectivity
TransFICC, a leader in low-latency connectivity and workflow solutions for the Fixed Income and Derivatives markets, has recently announced a successful $25 million Series B investment. This funding round was spearheaded by Citadel Securities, with notable contributions from BlackFin Tech and a number of existing investors.
Overview of the Funding Round
This latest investment elevates TransFICC’s total funding to an impressive $50 million. Key investors in this round include:
- AlbionVC
- Citi
- HSBC
- Illuminate Financial
- ING
- neosfer, the innovation unit of Commerzbank Group
Expanding Fixed Income Market Infrastructure
TransFICC is dedicated to enhancing infrastructure within the Fixed Income markets. The company is renowned for its innovative solutions that facilitate efficient electronic trading of various Fixed Income products.
Utilization of New Capital
The newly acquired capital will be instrumental in:
- Expanding TransFICC’s product offerings
- Increasing market presence
A significant recent development is the launch of TransACT, an Automated Customer Trading platform, originally designed for Credit markets. This platform is now broadening its scope to include Government Bonds, IRS, and Repo, addressing the growing demand for automated trading solutions. This demand is largely driven by structural changes in the market, including the rise of Fixed Income ETFs and all-to-all markets.
Technological Advancements
To further enhance its service offerings, TransFICC has made strides in its technological infrastructure. The company now boasts data center hosting capabilities across:
- North America
- Europe
- Asia
These advancements support the hosting of client applications on the TransFICC platform, significantly reducing latency. Plans are underway to improve venue and workflow support, enabling clients to connect more swiftly and cost-effectively.
Industry Insights
Amit Bhuchar from Citadel Securities expressed enthusiasm about the partnership, stating, “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 also shared his excitement, noting, “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 the vision of Steve, Judd, and Tom to make TransFICC the go-to solution for all market participants to electronically trade any Fixed Income product.”
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