London-based TransFICC, an e-trading technology company, announced a $25M (nearly €22.55M) Series B investment. The company has now raised a total of $50M in funding.
TransFICC supports institutions in fixed income and derivatives markets by managing trading connections, processes, and compliance.
Tom McKee, co-founder of TransFICC, 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.”
Investors supporting TransFICC
The round was led by Citadel Securities, with participation from BlackFin Tech and existing investors. Other investors include AlbionVC, Citi, HSBC, Illuminate Financial, ING, and neosfer, the early-stage investor and innovation unit of Commerzbank Group.
Amit Bhuchar, Head of FICC Liquidity Solutions at Citadel Securities, says, “Citadel Securities has a long history of developing innovative solutions to help our clients and partners address their most complex liquidity and execution challenges. We are pleased to partner with TransFICC to shape the future of Fixed Income market making through increased automation, connectivity and efficiency.”
Michele Foradori, Investment Director at BlackFin, adds, “TransFICC is providing a piece of critical infrastructure for Fixed Income markets. We are excited by the pace of innovation taking place in this space and fully embrace Steve, Judd and Tom’s vision to make TransFICC the go-to solution for all market participants to electronically trade any Fixed Income product.”
Solutions for the fixed income and derivatives markets
Founded in 2016 by Steve Toland, Judd Gaddie and Tom McKee, TransFICC delivers trading technology for the fixed income sector. The company supports banks and asset managers by offering systems that manage connectivity and workflows in e-trading environments.
TransFICC’s services address market fragmentation, workflow structure, data transmission, and regulatory requirements. Its offerings include “One API for eTrading”, Data Centres, “IRS and Credits eTrading”, and Consolidated Tape. These tools help clients handle trading activity across multiple platforms through a single connection.
TransFICC simplifies e-trading by handling three main tasks. First, it combines different trading venue APIs into a single API, so clients only need to connect once while TransFICC manages all venue connections.
Second, it processes trading data using fast and reliable technology, helping clients keep up with price changes and remain competitive in markets where speed is critical. Third, it adds precise timestamps to price and order messages, recording when data is received to help clients maintain an accurate audit trail and meet trade execution requirements.
Co-founder Toland, says, “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.”
Co-founder Gaddie, adds, “Now more than ever, market makers need to quote quickly to win business. TransFICC has already built data centre hosting in North America, Europe and Asia. Additionally, we are hosting our client’s applications on the TransFICC platform to reduce latency.”
TransFICC now serves 20 market participants and three exchange groups.
01
These are the top UK-based PR agencies for startups and scale-ups in 2025