Citadel Securities led a $25 million Series B investment in TransFICC, joined by BlackFin Tech, AlbionVC, HSBC, Illuminate Financial, ING, and neosfer. This funding aims to enhance TransFICC's electronic trading capabilities and infrastructure. The total investment raised by TransFICC now stands at $50 million. The company plans to bid to become a consolidated tape provider for fixed income, with expected authorisation in Q4.

TransFICC, the specialist provider of low-latency connectivity and workflow services for Fixed Income and Derivatives markets, today announced a $25 million Series B investment led by Citadel Securities.

Sell-side clients benefit from simplified integration and connectivity to LTX, reduced operational risk and implementation costs and improved time-to-market. NEW YORK, Nov. 26, 2024 /PRNewswire/ -- LTX, an AI-powered fixed income trading platform backed by global Fintech leader, Broadridge Financial Solutions Inc. (NYSE:BR), today announced its strategic partnership with TransFICC, a leading provider of e-trading technology for fixed income markets. This collaboration enables dealers to more quickly and efficiently onboard and connect to LTX, via TransFICC's One API for eTrading platform. "We are excited to partner with TransFICC as we continue to grow our community of liquidity providers – optimizing fixed income trading by facilitating workflow and cost efficiencies," said CEO of LTX, Jim Kwiatkowski. "Our strategic partnership with TransFICC enables faster time-to-market and simplified access to LTX's innovative RFQ+ trading protocol, reducing operational burdens