TransFICC Wins Risk Award

TransFICC has won this prestigious industry award four times (2026, 2025, 2023, and 2021)

Some highlights from Risk's coverage:

• Over the past year, TransFICC has expanded the scope of its services. One API now supports 93 distinct trading and post-trade workflows, covering products from interest rate swaps (IRS) to municipal bonds. A new Financial Information eXchange multiplexer enables clients to migrate to TransFICC while keeping their legacy systems in place. “We’re now connected to 86 venues,” says Toland. “That gives clients immediate access to the whole fixed income market – for data, trading and post-trade – without the burden of building and maintaining those links themselves.”

• Another major development is TransFICC’s e-trading service for credit and IRS. It was built in response to client demand for more efficient handling of requests for quotes (RFQs). The service combines a desktop interface with automated pricing and negotiation tools. The TransACT feature automatically manages smaller RFQs, freeing traders to focus on more complex trades.... “Many dealers receive more than 40,000 RFQs a day,” Toland explains. “TransACT lets them handle that flow automatically, so they can trade more without adding headcount.”

• TransFICC’s growth has been reinforced by new clients and investment. Citadel Securities became a partner in 2025, using TransFICC for connectivity within its liquidity outsourcing service. One API was adopted by Wells Fargo for government bond, credit, municipal bond, mortgage and loan trading, and National Australia Bank for government bond and swaps trading. A $25 million series-B funding round led by Citadel Securities and BlackFin Tech is supporting further expansion. The company has increased headcount by around 20% to build out connectivity and new workflows.

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