TransFICC Receives Fresh Investment From Citi, Joins Innovation Lab

TransFICC, a provider of low-latency connectivity for fixed income and derivatives markets, announced this Monday that it has received investment from Citi. The start-up did not confirm how much investment it received from the global financial-services giant.

Judd Gaddie, Co-Founder, TransFICC commented on the deal saying: “Fragmentation is a significant, and growing, issue for Fixed Income and Derivatives markets. We have built a technology solution, which addresses an industry level problem, as Dealers seek to cut their costs and improve efficiency, whilst still needing to access numerous pools of Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term. We look forward to working with Citi, as our new shareholder, and leveraging their industry knowledge to build out our future strategy."

In addition, TransFICC has joined Citi's Innovation Lab in London, the first external company to do so. Launched in February 2018, the London Innovation Lab supports Citi's Markets and Securities Services business with a focus on building a variety of tech-solutions, such as data visualization products, for its clients.

LMAX execs

Founded in 2016 by a number of former LMAX executives, TransFICC provides a variety of electronic trading solutions. For instance, the firm provides messaging services and binary encoding solutions.

Citi joins a number of existing investors in the firm. Main Incubator, the research and development unit of Commerzbank, has already taken a stake in the start-up firm. Other investors include Illuminate Financial and the FinLab, a joint venture between the United Overseas Bank and Singapore Innovate.

Stuart Riley, Global Head of Operations and Technology for Markets and Securities Services, discussed the deal noting: “Our Innovation Lab enables external firms to work alongside Citi engineers under the same roof, helping to build London's innovation ecosystem. TransFICC’s approach to Continuous Delivery and high-performance messaging, combined with its innovative business model for Capital Markets Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term makes it a good fit for the Lab.”