TransFICC, Bondecosystem, Broadway Technology, Overbond, Rival Systems, QuantFeed…
TransFICC, which was established last year to provide connectivity solutions for the fixed income and derivatives markets, has been selected to join Singapore’s FinLab accelerator programme.
The programme – a joint venture between United Overseas Bank (UOB) and SGInnovate – is designed to help selected fintech start ups validate their business assumptions and product-market fit, improve their business and revenue models, and at the same time get access into investor and resource networks that will be crucial to their future growth and expansion.
FX markets are largely seen as mature in terms of market structure and technology, but what about fixed income markets? Colin Lambert talks to Steve Toland, founder of TransFICC about the complexities and challenges involved in modernising these markets.
He finds that while fixed income markets are behind FX markets in terms of market structure and automation, they are catching up quick, but the biggest challenge is the sheer breadth and complexity of products traded - often on the same desk.
TransFICC, a provider of low-latency connectivity for fixed income and derivatives markets, has secured a strategic investment from Citi, which joins existing shareholders, Illuminate Financial, Main Incubator (which is part of Commerzbank), and The FinLab.
TransFICC aims to resolve the issue of market fragmentation by providing banks and asset managers with a unified, low-latency, robust and scalable API. TransFICC seeks to enable financial institutions to access their required e-trading venues, while streamlining technology requirements and reducing operational costs. In addition to securing this investment, TransFICC has joined Citi's Innovation Lab in London, the first external company to do so.
TransFICC has appointed Godfried De Vidts as a regulatory affairs advisor. Prior to this appointment, De Vidts was the director of European affairs at NEX Group, where he advised on European financial and political issues and led the group’s relationship with the European Commission and Parliament. Throughout his career, De Vidts has been a member of various official working groups such as: the ECB Contact Group on Euro Securities Infrastructures (Cogesi), the ECB Macroprudential Policies and Financial Stability Contact Group (MFCG), and the ESMA Secondary Markets Standing Committee Consultative Working Group.