A specialist provider of low-latency connectivity and workflow services for fixed income and derivatives markets has raised £20m in Series B investment.
London-based TransFICC has now raised £39m to date and has already built data centre hosting in North America, Europe and Asia.
The round was led by Citadel Securities and saw participation from BlackFinTech and existing investors.
BGF-backed Nuada becomes first NI firm to receive EIC funding
“Citadel Securities has a long history of developing innovative solutions to help our clients and partners address their most complex liquidity and execution challenges,” said Amit Bhuchar, head of FICC liquidity solutions at Citadel Securities.
“We are pleased to partner with TransFICC to shape the future of Fixed Income market making through increased automation, connectivity and efficiency.”
Steve Toland, TransFICC co-founder, added: “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.”
On-Target Dote pitch wins deal with world’s biggest retailer