Citi has invested in TransFicc, a UK-based company, whose product is a single API designed to provide a streamlined interface to multiple fixed income trading platforms, as well as cloud-based hosting to support microsecond timestamping of data and a full audit trail. The startup was founded by former LMAX, Icap and Reuters executive Steve Toland in 2016 to address fragmentation in fixed income markets. It has previously secured investments from Illuminate Financial, Main Incubator (part of Commerzbank and The FinLab. The startup will become the first external company to join Citi’s innovation Lab in London, which was launched in February to support the bank’s markets and securities services business by investing in new technologies. “Our Innovation Lab enables external firms to work alongside Citi engineers under the same roof, helping to build London’s innovation ecosystem,”said Citi’s head of ops and technology for Markets and Securities Services, Stuart Riley. In a separate release, Citi also announced an investment in software company Anaconda, via its ventures fund. Citi is mainly interested in Anaconda for its AI capabilities and hopes that integrating AI and machine learning across company operations will help attract younger generations to Citi’s platform.
