Participated · Series A · Apr 2020

TransFICC builds high-performance trading technology that provides a unified API, data centres, IRS and credits eTrading, and a Consolidated Tape to streamline electronic trading across Fixed Income and Derivatives. The platform emphasizes low latency, scalability and resilience to address fragmentation, complex workflows, data throughput and regulation. It launched TransACT (Automated Customer Trading) last year for Credit and is extending coverage to Government Bonds, IRS and Repo. TransFICC hosts client applications and has built data centre hosting in North America, Europe and Asia to reduce latency. The company currently counts 20 market participants and three exchange groups as clients. Financially, TransFICC recently closed a €22.5 million Series B and has raised €45.2 million to date. TransFICC offers a ‘One API for e-trading’ that aggregates connectivity to multiple electronic trading venues and supports a variety of fixed‑income trading workflows. The platform is designed to address fragmentation in fixed income markets by providing a robust, scalable and low‑latency API for banks and asset managers. The company says its API has been implemented at some of the largest fixed‑income trading banks and exchanges; eight banks and two exchanges are already using it. TransFICC plans to expand venue connectivity and automated workflows in U.S. rates and credit markets, targeting products such as U.S. Treasuries, High Yield, Investment Grade, IRS, Repos, Munis, MBS and CDS. The firm is also expanding its product suite toward a complete e‑trading system that will include a trader desktop interface to enable manual trading. Recent financing will fund engineering hires, new product development, office openings in New York and Brussels, and growth of its salesforce. TransFICC is a London-based fintech that provides an API layer for e-trading. Its platform streamlines multiple trading venues and trading activities into a single interface, aiming to address market fragmentation. The company emphasizes low-latency connectivity to handle massive data transfers and price fluctuations common in high-frequency trading. Services are currently geared to the fixed income and derivatives markets, and clients include five global investment banks and one global market data vendor. The new funding will be used to accelerate product development and to secure new clients from an extensive prospect pipeline, according to AlbionVC. Founder Steve Toland says the technology enables trading firms to cut costs and develop hybrid technology stacks combining outsourced and in-house components.