Low-latency connectivity and workflow services provider TransFICC has implemented its One API service for National Australia Bank’s (NAB) government bonds and interest rate swaps (IRS) on Tradeweb Australia – formerly known as Yieldbroker.
Tom McKee, TransFICC
In order to keep Yieldbroker’s connected dealers, their connectivity had to be changed to what is now called Tradeweb Australia.
Following Tradeweb’s purchase of Yieldbroker, TransFICC’s service was used to improve connectivity and manage migration to the new platform.
Read more: Tradeweb completes Yieldbroker acquisition
TransFICC’s One API translates APIs from various venues into a single normalised format allowing for simplified venue integration.
“NAB was seeking a single integration to Bloomberg and Tradeweb, and now including the Yieldbroker migration, to support its trading of IRS and government bonds. TransFICC’s One API was selected as the right solution to ensure ongoing connectivity and seamless API changes,” said Tom McKee, co-founder of TransFICC.
“Adding the complex order workflows for Tradeweb Australia in short timescales was an interesting challenge. Our daily UAT release process enabled the NAB team to test their applications and provide feedback quickly and ensure readiness for cut-over dates.”
The move follows TransFICC entering a strategic partnership with Broadridge’s LTX last November, enabling dealers to efficiently onboard and connect to LTX, via TransFICC’s One API for eTrading platform.
Read more: Broadridge’s LTX and TransFICC enter strategic partnership
The development aims to offer sell-side clients simplified integration and connectivity to LTX, reduced operational risk and implementation costs, and improved time-to-market.