Trad-X, the global hybrid platform for trading interest rate swaps, is pleased to announce the launch of its USD interest rate swap product in the US.
Trad-X, the derivative technology solution launched by Tradition 18 months ago and supported by 11 of the largest banks in the world, has already established itself as the leading hybrid liquidity source for Euro interest rate swaps. The platform intends to build on this success by expanding its services into another key trading currency - USD.
Daniel Marcus, Global Head of Strategy and Business Development at Tradition commented: "We are delighted to be expanding the range of products in the Trad-X universe. Trad-X USD is a transparent industry initiative and has been designed by the market for the market. We hope it achieves a similar level of success as our Euro IRS offering."
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:
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.
Lausanne, 15 February 2013
MHP Communications european investors relations sa
John Sarsfield / James Morgan / Fern Hammond Jérémy Nieckowski
Tél. : +44 20 3128 8530 / 8533 / 8092 Tél. : +41 22 591 22 65