TransFicc, a London-based provider of low-latency connectivity and workflow services for fixed income and derivatives markets, has raised $25 million in Series B investment led by Citadel Securities.
BlackFin Tech and existing investors also participated in the round, which means that TransFicc has now raised $50 million to date from the likes of AlbionVC, BlackFin Tech, Citadel Securities, Citi, HSBC, Illuminate Financial, ING, and neosfer.
TransFicc builds technology designed to help firm tackle the issues of fragmentation, complex workflows, data throughput and regulation in fixed income.
Its ‘One API for eTrading’ platform provides connectivity to multiple electronic trading venues while supporting a variety of workflows across fixed income products. The firm also has data centre, etrading service and consolidated tap offerings.
The company, which claims 20 market participants and three exchanges among its client base, plans to use the funding for a push into the EU and US.
Tom McKee, TransFicc co-founder, says: “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.”