TransFICC launches automated customer trading 08 April 2024 US, UK Reporter: Sophie Downes
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TransFICC has launched TransACT (automated customer trading).
The new service will automate request for quote (RFQ) negotiation workflows for banks trading on dealer-to-client venues.
The firm, which specialises in workflow services for fixed income and derivatives markets, says the offering enables dealers to fully automate significant parts of their credit trading more efficiently.
Commenting on the launch, Judd Gaddie, co-founder of TransFICC, says: “Our auto-negotiation service provides the code, support and security out of the box. The only bank requirement is to have a Pricer, meaning the service can quickly go live.
“What used to take months or years for a bank to deploy has been reduced to a few weeks.”
TransACT is available for immediate use on MarketAxess, Tradeweb, Bloomberg and TruMid for US Credit, with the service expanding to other RFQ assets later this year.
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