TransFICC, the specialist provider of low-latency connectivity and workflow services for fixed income and derivatives markets, has launched a new eTrading service, which combines a hosted desktop graphical user interface (GUI) with interest rate swap (IRS) venue and workflow integration, pricer application programming interface (API), server hosting and secure connectivity.
Developed in response to banks asking for increased efficiency when managing request-for-quotes (RFQs), the eTrading service streamlines workflows by presenting traders with pop-up tickets to support outright, curve and compression trades, with pricing fields automatically populated by internal pricing engines.
This plug-and-play service supports all IRS workflows, provides full security and disaster recovery, and is quick to deploy, with the capability to install a new bank client with dedicated hosting in under two weeks. The service is live with IRS, and US credit trading will be added in summer 2023.
“We have built a service that is easy for banks to deploy. Private circuits and dedicated hardware meet the security and compliance needs of banks, and the GUI is lightweight, performant, and simple to integrate with internal bank applications. We have also developed a simulator for incoming RFQs to help banks test their pricing applications,” said Judd Gaddie, co-founder of TransFICC.
“Adding eTrading is a natural extension of our existing service and uses the same ‘One API’ product for elements of core functionality. Banks trading in Fixed Income markets need technology which supports new venues and workflows, and enables them to reduce legacy system costs. Our e-trading service does exactly that,” added Steve Toland, co-founder of TransFICC.
TransFICC provides trading technology with connectivity to multiple trading venues while supporting a variety of workflows across rates and credit, repos, mortgage backed securities and interest rate swaps.
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