About Us


Launched in 2011, Trad-X is a regulated trading venue that facilitates hybrid and fully-electronic order entry, allowing users to execute the most complex of trading strategies via voice, direct click-and-trade central limit order book access and auction services.

In the United Kingdom, Trad-X is operated as a Multilateral Trading Facility (MTF) by Tradition (UK) Ltd and is authorised and regulated by the Financial Conduct Authority (FCA).

In the EU-27, Trad-X is operated as a Multilateral Trading Facility (MTF) by TSAF OTC and is authorised and regulated by the Autorité des marchés financiers (AMF).

In the US Trad-X operates as a SEF.

Trad-X was developed in conjunction with the world’s largest market makers, which provide firm, irrefutable and transparent two-way pricing in real-time for a broad range of USD, EUR and GBP denominated interest rate swap products. 

For more information, check out our FAQ section or contact us here to speak to the team.

Our Central Limit Order Books ("CLOBs")

For Dealers:

Our Dealer community consists of the world’s largest trading institutions. They provide two-way pricing on our dealer-to-dealer central limit order book (D2D CLOB) as well as our dealer-to-client central limit order book (D2C CLOB). 

Dealers accessing our D2D CLOB are able to trade with other participants on a multilateral basis – meaning all participants trade with everyone. 

Dealers accessing our D2C CLOB can provide liquidity but cannot trade with another Dealer, for more information on D2C criteria , click here .

For Non-Dealers:

Non-dealers form a crucial part of our growing dealer-to-client central limit order book (D2C CLOB). 

Launched in 2019, it is designed to replicate many of the benefits offered to dealers trading via a CLOB model. These include real-time, executable pricing with live updates for a wide range of swap products, tighter spreads and reduced information leakage. 

Trad-X is the first CLOB that allows non-dealers to trade with both dealers and clients on a multilateral basis. 

To find out more about the benefits of trading with Trad-X, click here

Our Parent Company


Trad-X is part of the Compagnie Financière Tradition SA(“Tradition”) Group, one of the world's largest wholesale market brokers in over-the-counter financial and commodity-related products. Represented in 28 countries, Tradition employs 2,200 people globally and is listed on the Swiss stock exchange. The Tradition Group's activities are overseen by global regulators including the FCA, SEC and CFTC.

For more information,please visit www.tradition.com