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TransFICC, the specialist provider of low-latency connectivity and workflow services for Fixed Income and Derivatives Markets, has closed its Series A investment round for£5.75 million. Led by AlbionVC, it included new strategic investments from ING Ventures and HSBC.
The new investors join existing shareholders, Citi, Illuminate Financial, Main Incubator (the R&D unit of Commerzbank Group) and The FinLab.
Singapore Exchange Limited (SGX) and CITIC Securities have agreed to collaborate across multiple areas, including fixed income, currencies and commodities (FICC), real estate investment trusts (REITs), as well as equity, and debt capital markets.
Under the agreement, both parties will explore the development and listing of new bond and risk management products for international participants who are looking to invest in China’s bond market.
Tradeweb has released its monthly volumes for March, which show significant trading activity across asset classes.
- March 3 saw a new daily record volume, with more than $1.5trn traded.
- Average daily volume (ADV) hit a new high of $1.0 trillion, an increase of 41.5 % YoY.
- During Quarter 1 of 2020, ADV was $897.8 billion, up 39.0 % YoY.
TransFICC, and SoftSolutions have announced a partnership to provide clients with connectivity and workflow solutions for Interest Rate Swaps.
OpenDoor, the provider of a continuous order book for less liquid US Treasuries, has named Carson Wong as Chief Technology Officer. OpenDoor's current CTO Michael Sacks will retire in April 2020.
For the fifth consecutive year, Citi has been ranked first for overall market share in the Greenwich Associates annual benchmark study.
Citi was recognised as the leader in Rates, Emerging Markets and Municipal Bonds, ranking second in Credits.
THETA, the specialist provider of buy-side trading technology as a service, has appointed Peter Meddemmen as its Chief Technology Officer, as it prepares to launch its O/EMS platform.
OpenDoor has launched the first all-to-all continuous order book for off-the-run Treasuries (OFTRs) and Treasury Inflation-Protected Securities (TIPS). State Street will execute transactions matched on the platform as a riskless principal intermediary to Participants and Clearing Dealers.
Greenwich Associates has released its 2019 Leaders in European Fixed Income report. J.P. Morgan tops the list based on market share. Citi is second, followed by Barclays and Goldman Sachs. Fifth place is shared by HSBC, BNP Paribas and BofA Securities.
AxeTrading’s clients will now be able to access UBS Bond Port, which has the equivalent of USD 30 billion of daily liquidity in credit, rates and emerging market bonds. They can choose to distribute prices to other participants of the Bond Port network on an anonymous basis and access firm liquidity in over 40,000 ISINs across 19 currencies.
ING’s advanced analytics tool for Fixed Income is to become London-based Katana Labs. ING Ventures will provide a £1.5 million scale-up loan as part of a £3 million funding round, and sell its majority stake in Katana to third-party investors.
Intercontinental Exchange has added new functionality to ICE ETF Hub, supporting US-listed fixed income exchange traded funds (ETFs). Since launching last week, fixed income primary trades for 17 funds have passed through the system - including iShares Core U.S. Aggregate Bond ETF (AGG) and iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD).