TransFICC launches eTrading service for Interest Rate Swaps and US Credit

Rick Steves

“Banks trading in Fixed Income markets need technology which supports new venues and workflows, and enables them to reduce legacy system costs. Our eTrading service does exactly that.”

TransFICC has launched a new eTrading service that combines a hosted desktop GUI with Interest Rate Swaps venue and workflow integration, pricer API, server hosting, and secure connectivity.

The specialist provider of low-latency connectivity and workflow services for Fixed Income and Derivatives Markets developed the solution in response to banks asking for increased efficiency when managing Request for Quotes (RFQs).

The eTrading service streamlines workflows by presenting traders with pop-up tickets to support outright, curve and compression trades, with pricing fields automatically populated by internal pricing engines.

It is a plug and play solution that supports all Interest Rate Swaps workflows, provides full security and disaster recovery, and is quick to deploy, with the capability to install a new bank client with dedicated hosting in under two weeks.

TransFICC’s eTrading service has already gone live with Interest Rate Swaps, but US Credit trading is expected to be added in Q3 2023.

Judd Gaddie, Co-Founder of TransFICC, said: “We have built a service that is easy for banks to deploy. Private circuits and dedicated hardware meet the security and compliance needs of banks, and the GUI is lightweight, performant, and simple to integrate with internal bank applications. We have also developed a simulator for incoming RFQs to help banks test their pricing applications.”

Steve Toland, Co-Founder of TransFICC, commented: “Adding eTrading is a natural extension of our existing service and uses the same ‘One API’ product for elements of core functionality. Banks trading in Fixed Income markets need technology which supports new venues and workflows, and enables them to reduce legacy system costs. Our eTrading service does exactly that.”

TransFICC provides trading technology for Fixed Income, resolving the issue of market fragmentation and delivering workflow efficiencies to banks and asset managers globally.

The firm provides connectivity to multiple trading venues while supporting a variety of workflows across asset classes such as Rates and Credit Bonds, Repos, Mortgage Backed Securities and Interest Rate Swaps.

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