TransFICC secures £19m Series B funding led by Citadel Securities
The fixed income technology specialist has raised £19m from backers including Citadel Securities and BlackFin Tech.
TransFICC provides low-latency connectivity and workflow services for fixed income and derivatives markets. The company builds trading technology to address fragmentation, complex workflows and regulatory demands for banks and the buy-side.
TransFICC has raised £19m in a Series B funding round led by Citadel Securities, with participation from BlackFin Tech and existing investors. The company provides low-latency connectivity and workflow services for fixed income and derivatives markets.
Structural changes such as algorithmic trading growth and increased exchange volumes have driven demand for automated solutions. TransFICC plans to use the capital to support its technology expansion, including its TransACT platform and global data centre hosting capabilities.
The business counts 20 market participants and three exchange groups among its clients, having previously secured backing from institutional investors including Citi, HSBC and ING.
From the founder
"Wide-ranging structural changes, including the increased adoption of algo tools, the growth of all-to-all markets and the rise of Fixed Income ETFs are driving volumes up, creating increased demand for automated solutions. TransFICC launched TransACT (Automated Customer Trading) last year to address this need in Credit and is now extending asset class coverage to Government Bonds, IRS and Repo."
Steve Toland
Co-Founder at TransFICC
Investor perspective
"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."
Michele Foradori
Representative, BlackFin Tech
