News

Trad-X reports record volumes

Trad-X reports record volumes

 

Monday 1st October 2012 - Trad-X, the interest rate swap trading platform launched by Tradition and a diverse group of 11 global investment banks 16 months ago, has seen a substantial increase in volumes during the summer and is delighted to report that September was a record month for Euro Interest Rate Swap volumes traded on the platform. During September, Trad-X matched around 1200 orders amounting to a notional matched of approximately €80bn. Since launch, Trad-X has matched almost 7000 orders amounting to a notional matched of approximately €500bn.

 

Footnote: Trad-X reports matched volumes. Trad-X only reports orders matched on the platform and does not include voice transactions submitted post-trade. Trad-X's price reference pages are powered by pure electronically submitted pricing representing firm bids and offers.

 

For further information, please contact:

 

MHP Communications            

John Sarsfield/James Morgan/Fern Hammond                  

Tel.:+44 20 3128 8530/8533/8092

E-mail: Tradition@mhpc.com

 

About Trad‐X:

Trad-X utilises Tradition's proprietary technology to provide a fully electronic multi-asset class trading platform for OTC derivatives with hybrid and fully automated rich functionality, low latency and - most importantly - the potential for attracting deep liquidity. Designed with the help of the trading community, Trad-X is a logical extension to Tradition's voice brokerage services. Trad-X enables fully electronic order entry, whilst leveraging the benefits of execution capability of Tradition's voice brokers. Trad-X can be accessed via its own fully customisable and configurable client GUI, by using its FIX API or through independent software vendors such as ION. Trad‐X data, with best bid, offer and size, can be subscribed to via 'TRDX' Bloomberg pages. The pages show around 100 of the most liquid points on the € IRS curve, to which 11 banks are streaming prices electronically. Our public reference pages 'TTST1' on Thomson Reuters and 'TREU' on Bloomberg are showing estimated bid/offer. They are calculated directly from Trad-X mid markets.

 

About Tradition and Compagnie Financière Tradition SA:

Tradition and the 'snowflake' device are trade marks of Compagnie Financière Tradition SA. With a presence in 28 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 trade mark 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.