News

Market first from Trad-X brings added efficiency and transparency to Euro Interest Rate Swaps

Tradition publishes data powered by Trad-X

London, 28 February 2012- Tradition, the global interdealer broker, has announced that data from Trad-X, its hybrid trading platform for OTC derivatives, will be made available from 1 March as specialist content with leading data vendors Thomson Reuters and Bloomberg. The data will be available on desktops with the ability to license its use within non-display applications. Trad-X's data will initially focus on Euro Interest Rate Swaps.

For the first time in the Euro Interest Rate Swaps market, Trad-X data will display real-time executable best bid and offer prices across all active tenors, streamed directly from 11 diverse global banks which founded and support the Trad-X platform. These include BNP Paribas, Citi, Credit Suisse, Goldman Sachs, HSBC, Morgan Stanley, Nomura, Société Générale, Royal Bank of Scotland and UBS.

Daniel Marcus, Managing Director of Strategy and Business Development at Tradition said: "Tradition and its founding partners fully anticipate that Trad-X data will become a benchmark price for the Euro IRS market. We have therefore been working closely with data vendors to deliver this key data set. Since Trad-X launched in 2011, the platform has gained significant market share in electronic trading of Euro IRS. Furthermore, the wider trading community have recognised the value of having 11 banks streaming two-way prices on a continuous basis throughthe Trad-X platform, as well as the integrity and transparency this brings to the market."

 

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Enquiries:

MHP Communications                                                         

John Sarsfield                             

Tel.: +44 203 128 8578/8530                           

E-mail: Tradition@mhpc.com

 

About Trad-X data:
Trad-X data with best bid, offer and size can be subscribed to via 'TRADX' pages on Thomson Reuters and 'TRDX' Bloomberg terminals. The pages will show around 100 of the most liquid points on the € IRS curve, to which 11 banks are streaming prices electronically. Additional Trad-X powered data with a wider spread and no shown size can be accessed via 'TTST1' on Thomson Reuters and 'TREU' onBloomberg.

 

About Tradition and Compagnie Financière Tradition SA:
Tradition is a trademark of Compagnie Financière Tradition SA. With a presence in 27 countries, Compagnie Financière Tradition SA is one of the world's leading interdealer brokers (IDB). The Group provides broking services for a complete range of financial products (money market products, bonds, interest rate, currency and credit derivatives, equities, equity derivatives, interest rate futures and index futures) and commodity-related products (energy and environmental products, and precious metals).

Compagnie Financière Tradition is listed on the SIX Swiss Exchange (CFT).

Trad-X is a trademark of Compagnie Financière Tradition SA.
Trad-X is an MTF operated by Tradition (UK) Limited, authorised and regulated by the UK Financial Services Authority.

For more information, please visit www.tradition.com and www.trad-x.com.