TransFICC and SoftSolutions to Provide Connectivity for Interest Rate Swaps

TransFICC and SoftSolutions to Provide Connectivity for Interest Rate Swaps
11.03.2020 09:11 am

TransFICC and SoftSolutions to Provide Connectivity for Interest Rate Swaps

Trading Systems

TransFICC, the specialist provider of low-latency connectivity and workflow services for Fixed Income and Derivatives Markets, and SoftSolutions, the developer of high-performance mission-critical platforms, have announced a partnership to provide clients with connectivity and workflow solutions for Interest Rate Swaps.

Using TransFICC’s ‘One API for eTrading’ platform, SoftSolutions will be able to offer its clients access to IRS e-trading, in addition to its existing Rates and Credits services. TransFICC and SoftSolutions will support specific workflow functionality demanded by firms trading in the Swaps market, including Request for Quote (RFQ), Request for Stream (RFS), Request for Market (RFM), Process trades and Lists/Compression trading. Product scope includes vanilla and custom outrights or multi-leg packages (for example, switches, butterflies, and basis).

“Technology that supports multiple trading protocols and workflows with maximum consistency is in high demand among our clients and prospects, and our new partnership allows us to roll out this functionality to European clients,” said Steve Toland, Founder of TransFICC. “Working with SoftSolutions allows us to extend our product coverage to include IRS and to quickly connect with SoftSolutions’ existing clients.” 

“By working in partnership with TransFICC we are able to offer our clients access to trade in a new asset class in only a short period, as the IRS workflows and connectivity services are already in Beta,” said Roberto Cocchi at SoftSolutions. “TransFICC’s integration with nexRates provides our clients with seamless access to multiple markets, with all connectivity provided as SaaS. Partnerships between FinTech specialists can, and should be the norm in this industry, where all stakeholders benefit from a best-of-breed solution without the enormous burden often carried by less agile players.”

TransFICC enables financial institutions to access their required eTrading venues, whilst streamlining technology requirements and reducing operational costs. Its unified low-latency, robust and scalable ‘One API for eTrading’ platform enables banks and the buy-side to connect with multiple trading venues while supporting a variety of workflows across multiple asset classes such as Rates and Credit Bonds, and Interest Rate Swaps. The service supports risk controls, workflow normalisation, market data, messaging, hardware and hosting, connectivity and multiple trading protocols, including CLOB market data, market making and order entry, RFQ and List trading (non-contingent, all-or-nothing, and trade at close).

SoftSolutions! provides multi-market, multi-asset, high performance connectivity and price distribution Market Making platforms. Its solutions include nexRates, XTAuctions and BestX!. The Rates EMS platform, nexRates, provides a full range of services to support sell-side clients trading Rates products. XTAuctions enables Primary Dealers to perform EGB primary auctions, and BestX!, a buy-side EMS, allows trading desks to auto-ex on all Fixed Income venues, with unrivalled richness of algos and trading parameters.

TransFICC’s clients include five global investment banks and one global market data vendor. SoftSolutions!’ clients include major global investment banks, regional sell-side champions and one global private bank.

Related News

Cloud9 and SteelEye Partner to Address Voice Trading Compliance Challenges amid Remote Working Conditions

Cloud9 Technologies (“Cloud9”), a leader in cloud-based communications, has integrated with SteelEye, a leading regulatory technology and data analytics provider, to offer the... Read more »

Reuters Events Discuss the Resilience of the Energy Market Through Volatility

Reuters Events will be hosting a free online webinar series focused on commodity trading and commodity value chains.

The energy industry has never seen a year like it.... Read more »

Newfound launches virtual fintech trade mission to stimulate economic growth in UK and Australia

Global expansion specialists Newfound today announced the first ever virtual fintech trade mission between the UK and... Read more »

IPC’s Connexus Cloud ecosystem continues expansion with linkage to London Metal Exchange

IPC, a leading global provider of secure, compliant communications and networking solutions for the global financial markets community, announced today its... Read more »

Cloud9 Chooses OpenFin to Empower “Virtual Trading Desks”

Cloud9 Technologies ("Cloud9"), a leader in cloud-based communications, has partnered with OpenFin, the operating system (OS) of finance, to streamline the deployment of Cloud9... Read more »

QuantHouse to provide TSL machine learning capabilities as part of the QuantFactory cloud backtesting suite

QuantHouse, the global provider of end-to-end systematic trading solutions including... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel