05.14.2021

SoftSolutions! And TransFICC Provide Cloud-Based Trading

SoftSolutions!, the developer of high-performance mission-critical trading technologies and TransFICC, the specialist provider of low-latency connectivity and workflow services for Fixed Income and Derivatives Markets, have partnered to provide clients with a complete cloud-based trading service with connectivity to multiple Fixed Income trading venues.

SoftSolutions! recently announced the launch of its latest, cloud-enabled, version of nexRates, the first “Trading as a Service” (TaaS), to be hosted in AWS. Cloud connectivity for nexRates is being provided by TransFICC, which fully supports RFQ trading connectivity to all major D2C venues including Bloomberg as well a number of D2D venues.

TransFICC supports multiple versions of Bloomberg’s RFQ trading gateways (TNP) to enable easy migration to the latest version, TNP 3.2. Currently there is significant demand for these upgrades, as large numbers of trading firms move to support BOLT (Bid Offer List Trading) workflow for Bonds. TransFICC enables banks to trade packages of up to 300 instruments on BOLT, including spread trading and benchmark spotting.

“As the Fixed Income market continues to evolve, many clients are adopting a cloud or hybrid technology solution. Our partnership with TransFICC enables us to support clients’ trading workflows on both legacy and new business protocols like BOLT, as well as providing access to many other venues from the cloud,” said Roberto Cocchi, CEO of SoftSolutions!. “With TransFICC providing access to both D2C and D2D markets, nexRates is now able to provide the sell-side with the ability to service client requests as well as being able to hedge or trade out of positions on the inter-dealer markets – either manually or automatically.”

“Working with SoftSolutions!, we provide cloud connectivity for the nexRates cloud hosted platform and have successfully completed the Bloomberg API upgrade, making it fast and simple for clients to move to the new gateway and begin trading using BOLT,” said Steve Toland, Co-Founder of TransFICC. “Our service helps clients to address the significant challenge of coding and testing new venue APIs for both trading and data. Typically it can take three months to complete each API upgrade, with the workload amplified by managing multiple connections.”

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 resolves the issue of market fragmentation by providing banks and asset managers with a unified low-latency, robust and scalable API. Its ‘One API for eTrading’ platform provides connectivity to multiple trading venues while supporting a variety of workflows across asset classes such as Rates and Credit Bonds, Repos, Mortgage Backed Securities and Interest Rate Swaps.

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

Source: TransFICC

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