Cloud-based API connectivity for financial markets

Market and liquidity fragmentation continues to be a growing concern for bond market participants. The number of electronic venues and trading protocols continues to rise. As of January 2017, the number of trading platforms for fixed income trading stood at 128 with approximately 220 different ways of plugging into these networks. In addition, MiFID II continues to push bond trading towards electronic venues and requires much more granular transaction reporting data to be submitted to regulators.

TransFICC aims to reduce trading connectivity costs in the highly fragmented fixed income and derivatives market for banks and asset managers via a low-latency scalable API. Banks, asset managers, hedge funds and trading venues can all benefit from TransFICC solution. The company will leverage Illuminate’s deep knowledge of fixed income markets and industry network.