Wells Fargo
has completed a sourcing agreement with TransFICC to deploy the London-based
fintech company’s unified trading technology across its fixed income
operations.
The
partnership integrates Wells Fargo’s trading systems with seven major
electronic trading platforms through TransFICC’s One API service, including
Tradeweb, Bloomberg, Octaura, GLMX, Aladdin, LTX and Investortools. Wells Fargo
plans to connect additional venues in the future.
TransFICC’s
technology consolidates multiple venue APIs into a single normalized format,
allowing banks to connect to various trading platforms without managing
separate integrations for each. The system handles rates, credit, municipal
bonds, mortgages and loan markets for Wells Fargo’s fixed income business.
Wells Fargo
joins a client roster that includes Citi, NatWest, NAB and Santander across
TransFICC’s 17 sell-side and four buy-side institutional clients. The bank has
been actively recruiting fixed income electronic trading talent, recently
posting positions for lead software engineers specializing in low-latency
trading platforms.
Steve Toland, co-Founder of TransFICC
“Wells
Fargo are a major force in US Fixed Income, and we are happy to enable their
automation of Rates, Credit, Muni, Mortgage and Loan markets,” said Steve
Toland, co-founder of TransFICC. “TransFICC will further ease Wells
Fargo’s connectivity to European and Asian trading venues via our global
network”.
Related: FXSpotStream Expands Liquidity Pool with Wells Fargo Addition
Technology Addresses
Market Fragmentation
The
partnership reflects broader industry trends toward automation in fixed income
markets, where trading has historically been less electronic than equities.
TransFICC raised $25 million in Series B funding earlier this year, led by
Citadel Securities and BlackFin Tech, bringing total funding to over $45
million.
The company
operates data centers across North America, Europe and Asia to reduce latency
for client applications. TransFICC serves three exchange groups alongside its
bank and asset manager clients.
Fixed
income electronic trading volumes have grown as institutional investors adopt
algorithmic tools and all-to-all trading platforms expand beyond traditional
dealer-to-client models. Wells Fargo’s Corporate & Investment Banking
division offers comprehensive fixed income services across currencies and
commodities.
Also check other stories related to Wells Fargo:
Wells Fargo
has completed a sourcing agreement with TransFICC to deploy the London-based
fintech company’s unified trading technology across its fixed income
operations.
The
partnership integrates Wells Fargo’s trading systems with seven major
electronic trading platforms through TransFICC’s One API service, including
Tradeweb, Bloomberg, Octaura, GLMX, Aladdin, LTX and Investortools. Wells Fargo
plans to connect additional venues in the future.
TransFICC’s
technology consolidates multiple venue APIs into a single normalized format,
allowing banks to connect to various trading platforms without managing
separate integrations for each. The system handles rates, credit, municipal
bonds, mortgages and loan markets for Wells Fargo’s fixed income business.
Wells Fargo
joins a client roster that includes Citi, NatWest, NAB and Santander across
TransFICC’s 17 sell-side and four buy-side institutional clients. The bank has
been actively recruiting fixed income electronic trading talent, recently
posting positions for lead software engineers specializing in low-latency
trading platforms.
Steve Toland, co-Founder of TransFICC
“Wells
Fargo are a major force in US Fixed Income, and we are happy to enable their
automation of Rates, Credit, Muni, Mortgage and Loan markets,” said Steve
Toland, co-founder of TransFICC. “TransFICC will further ease Wells
Fargo’s connectivity to European and Asian trading venues via our global
network”.
Related: FXSpotStream Expands Liquidity Pool with Wells Fargo Addition
Technology Addresses
Market Fragmentation
The
partnership reflects broader industry trends toward automation in fixed income
markets, where trading has historically been less electronic than equities.
TransFICC raised $25 million in Series B funding earlier this year, led by
Citadel Securities and BlackFin Tech, bringing total funding to over $45
million.
The company
operates data centers across North America, Europe and Asia to reduce latency
for client applications. TransFICC serves three exchange groups alongside its
bank and asset manager clients.
Fixed
income electronic trading volumes have grown as institutional investors adopt
algorithmic tools and all-to-all trading platforms expand beyond traditional
dealer-to-client models. Wells Fargo’s Corporate & Investment Banking
division offers comprehensive fixed income services across currencies and
commodities.
Also check other stories related to Wells Fargo: