Compagnie Financière Tradition: GMEX Group and Tradition announce strategic partnership

Compagnie Financière Tradition /
Compagnie Financière Tradition: GMEX Group and Tradition announce strategic
partnership
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Press Release
Lausanne, 3 November 2014

GMEX Group and Tradition announce strategic partnership

Prices from the Trad-X platform will facilitate the GMEX Exchange USD Interest
Rate Swap futures launch

Global Derivatives Indices (GDI), a wholly owned subsidiary of Global Markets
Exchange Group International LLP (GMEX Group), today announced a strategic
partnership with Tradition, the interdealer broking arm of Compagnie
Financière Tradition, to use prices from Trad-X to calculate a new USD version
of GDI–s Constant Maturity Index (CMI). This will underpin the GMEX interest
rate swap (IRS) Constant Maturity Futures (CMF) contracts.

Under the terms of the partnership agreement, GDI will source firm tradable
bids and offers from Trad-X, Tradition–s global trading platform, to calculate
a new USD-denominated weighted-average index designed to reflect the USD IRS
market in real-time. Additionally, Trad-X will contribute prices to the
existing GDI EUR IRS index in real-time.

GDI–s CMI indices are used as the basis for the Constant Maturity Futures
(CMF) IRS contracts, which will be traded on GMEX Group–s soon to be launched
exchange, subject to UK FCA approval. The initial launch will be focused on
EUR-denominated CMF contracts, closely followed by USD.

„Working with Trad-X, is an important step forward because it enables us to
enhance our Euro CMI underlying data, and more importantly expand our Constant
Maturity Index offerings into US Dollars, which in turn will facilitate the
launch of our US Dollar-denominated Constant Maturity Futures (CMF) contract
next year on GMEX Exchange“, said Hirander Misra, CEO of GMEX Group and
Chairman of GDI.

„Trad-X is pleased to be providing our market leading data to the GMEX CMI.
Tradition is wholly supportive of market-led initiatives that create
transparency and products that the market can use for effective risk
management purposes“, commented Dan Marcus, CEO of Trad-X.

„The CMI indices are unique in the breadth and depth of the data they use from
a variety of sources. We believe that the CMI has the potential to become the
industry–s most representative index of fair value for the interest rate swaps
market“, added VJ Angelo, President of GMEX Group and CEO of GDI.

ABOUT GEMX Group

Global Markets Exchange Group International LLP („GMEX Group“) is a group of
companies that offer sustainable and innovative solutions for the new era of
global financial markets, encompassing:

* Operation of an exchange for the trading of a Constant Maturity Future for
Interest Rate Swaps, subject to FCA approval
* Development of related new tradable market and product indices
* Creation and operation of low cost electronic exchanges in equities, debt,
FX, derivatives and commodities in developing and, in a targeted way,
developed markets
* Interconnectivity of exchanges to each other creating a global network of
liquidity
* Business development to enhance liquidity in partner exchange products
* Consultancy on exchange strategy, product development, clearing and
regulation
* Provision of platform technology

GMEX Group stakeholders include Deutsche Börse AG and Forum Trading Solutions
Limited through its investment vehicle.
About Global Derivatives Indices
Global Derivatives Indices („GDI“) is a wholly-owned subsidiary of GMEX Group.

ABOUT Trad-X

Trad-X utilises Tradition–s proprietary technology to provide an 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 12 banks are streaming prices electronically. Our public reference
pages –TTST1– on Thomson Reuters and –TREU– on Bloomberg for Euro and TDOL
–TTST1– on Thomson Reuters and –TIRS– on Bloomberg for USD levels that are
calculated directly from Trad-X mid markets providing superior price formation
based on real prices. Trad-X also provides auction functionality in Interest
Rate Options.
Trad-X is an MTF operated by Tradition (UK) Limited authorised and regulated
by the UK Financial Conduct Authority.

ABOUT TRADITION

Compagnie Financière Tradition SA, one of the world–s largest interdealer
brokers in over-the-counter financial and commodity related products.
Represented in 28 countries, Compagnie Financière Tradition SA employs 2,250
people globally and its activities are overseen by global regulators including
the FCA, SEC and CFTC.  Compagnie Financière Tradition SA is listed on the
Swiss stock exchange. For more information, please visit www.tradition.com.
Tradition and ParFX are registered trade marks of Compagnie Financière
Tradition S.A.

MEDIA CONTACTS

Compagnie Financiere Tradition  GMEX Group
Nick Murray-Leslie / Nick Warren     Melanie Budden
Chatsworth Communications  The Realization Group
+44 (0) 20 7440 9780   +44 (0)79 7493 7970

CFT_Press release:
http://hugin.info/133362/R/1867672/656291.pdf

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Source: Compagnie Financière Tradition via GlobeNewswire
[HUG#1867672]