TransFICC Secures $25 Million Investment to Advance Fixed Income Trading

TransFICC, a company specializing in connectivity and workflow solutions for fixed income and derivatives markets, has announced a successful $25 million Series B funding round. The investment was led by Citadel Securities, with participation from BlackFin Tech and existing investors. This latest funding brings TransFICC's total investment to $50 million.

The company intends to use the new capital to further develop its automated trading solutions and expand its connectivity services. According to a statement from TransFICC, the funding will support the growth of its TransACT platform, which automates customer trading, and extend its asset class coverage beyond credit to include government bonds, IRS, and repo.

Amit Bhuchar from Citadel Securities commented on the investment, 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 of BlackFin Tech also expressed enthusiasm, saying, "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."

Steve Toland, co-Founder of TransFICC, highlighted the market drivers behind the demand for their services, noting, "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."

Fellow co-Founder Judd Gaddie emphasized the importance of speed in the current market environment, stating, "Now more than ever, market makers need to quote quickly to win business. TransFICC has already built data centre hosting in North America, Europe and Asia. Additionally, we are hosting our client's applications on the TransFICC platform to reduce latency."

Tom McKee, also a co-Founder, pointed to the cost benefits of TransFICC's offering, explaining, "Fixed Income trading firms need to support and expand venues and workflows while maximising efficiency. However, the time and development costs of connectivity can be significant. At TransFICC, our intention is to enhance our venue and workflow support so that clients can connect more quickly and at a lower cost."