TransFICC, a provider of low-latency connectivity and workflow services for fixed income and derivatives markets, has secured US$25 million in a Series B fundinground led by Citadel Securities.
Funds were raised with additional participation from BlackFin Tech and existing investors including AlbionVC, Citi, HSBC, Illuminate Financial, ING, and neosfer. This brings TransFICC’s total funding to US$50 million.
Steve Toland, co-founder of TransFICC, highlighted the evolving landscape in fixed income markets, 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. TransFICC launched TransACT (Automated Customer Trading) last year to address this need in credit and is now extending asset class coverage to government bonds, interest rate swaps and repo.”
TransFICC hosts data centres in North America, Europe, and Asia, aiming to reduce latency and improve clients’ connectivity and efficiency. It currently supports 20 market participants and three exchange groups.
Read more: https://www.fi-desk.com/transficc-confirms-ctp-bid-we-know-it-works/
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