Citi invests in fixed income e-trading startup TransFicc

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Citi made a strategic investment in UK-based electronic trading technology startup TransFicc for fixed income and derivatives markets.

With the deal, Citi joins the existing shareholders Illuminate Financial, Main Incubator and The FinLab.

Founded in 2016 by former LMAX, Icap and Reuters executive Steve Toland, in partnership with former LMAX software developers- Judd Gaddie and Tom McKee, TransFicc becomes the first external company to join Citi’s Innovation Lab in London.

Tom McKee, co-founder, TransFicc, says: “Joining Citi’s Innovation Lab allows us to work collaboratively with Citi, sharing expertise and accessing a larger pool of technical experience.”

Stuart Riley, global head, operations and technology, Markets and Securities Services, Citi, adds: “Our Innovation Lab enables external firms to work alongside Citi engineers under the same roof, helping to build London’s innovation ecosystem.”

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