Proctor, 23, put pen to paper on a one-month loan deal this Friday before joining in with training with his new team-mates for the first time at the club's Apperley Bridge training base.
Moving the other way, City striker Devante Cole has left the Coral Windows Stadium to join Fleetwood on a permanent basis for an undisclosed fee.
Cole has signed a two-and-a-half year deal at Highbury Stadium.
Parkinson said: "We have received a fee for Devante and we feel the money can help us to freshen up our striking department.
"We received the offer for Devante this week and we felt it was the right thing to do for footballing reasons to accept it.
"We certainly wish him all the very best going forward and thank him for his efforts this season.
"Following Devante's departure, we've brought Jamie Proctor in initially on a month's loan and we are looking forward to working with him.
"He goes straight into contention for this Saturday (vs Port Vale)."
Subject to receiving the relevant clearances, Proctor could be in line to make his City debut at Vale Park on Saturday.
The striker will wear shirt number 19 during his time with Phil Parkinson's squad.
The 6' 2'' forward has made 28 appearances for Fleetwood so far this season, starting the Cod Army's last three matches.
As part of the loan agreement, Proctor will not be allowed to play for the Bantams against Fleetwood Town when the two sides meet at the Coral Windows Stadium next Saturday (30 January 2016).
Proctor began his career at local club Preston North End before moving to Premier League side Swansea City in 2012 after two years at Deepdale.
The striker spent a year at Crawley Town ahead of a move to Fleetwood in 2014.