Compagnie Financière Tradition: Trad-X trades top 25,000 as total volumes exceed USD 1 trillion

Compagnie Financière Tradition /
Compagnie Financière Tradition: Trad-X trades top 25,000 as total volumes exceed
USD 1 trillion
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Source: Globenewswire

Press Release
Lausanne, 9 December 2014

Trad-X, the market-leading platform for the trading of global interest rate
derivatives, has announced the completion of its 25,000th trade last month.
The milestone trade was executed on Friday 28 November, and comes as total USD
IRS trading volumes since launch exceeded USD 1 trillion.

Since the introduction of SEFs in October 2013 into the US marketplace as a
component part of the Dodd Frank Act, Trad-X has formed the backbone of
Tradition SEF–s Interest Rate Swap Central Limit Order Book (CLOB) liquidity.

Since the start of September 2014, Trad-X USD on-SEF volumes have seen a sharp
increase. From the start of September to end of November, Trad-X executed more
than 4,700 interest rate swap trades, worth a notional value in excess of USD
540 billion.

Dan Marcus, CEO of Trad-X, said: „Tradition–s SEF volumes have grown
exponentially during 2014. We are now executing 96% of our „on-SEF“ USD
interest rate swaps volumes on the Trad-X central limit order book. The
adoption of this electronic and hybrid execution methodology is testament to
Tradition–s innovative technology, the quality of our broker support and
market provided liquidity.“

Trad-X is a hybrid trading platform supported by a large and diverse group of
global banks, which stream two-way pricing to the platform across the most
liquid USD, EUR and GBP interest rate swap products. The platform
differentiates itself by the depth and quality of its liquidity and the fact
that it operates on a hybrid basis, ensuring voice and electronic liquidity
are combined and operate on a seamless and symbiotic basis.

Trad-X also announced the launch of a new CCP switch service for EUR interest
rate swaps between CME–s Clearing House and LCH.Clearnet Ltd in January 2015.
This follows on from the success of the service in USD interest rate
swaps. The CCP switch service allows counterparties to efficiently switch
corresponding CCP positions and provides the market with a margin efficient
execution level collateral management tool.

Marcus added: „The addition of CCP auctions for euro interest rate swaps marks
the latest innovative enhancement to the Trad-X platform. We will be rolling
out a number of new products to the platform during the course of 2015.“

Note To Editors
The volumes stated in this release are calculated on a single count basis so
that two matching orders are referenced as a single trade.

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 and is an integral part of the IRS
Market offering by Tradition SEF which is authorized and regulated in
the United States by the U.S. CFTC.

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 Trad-X are registered trade marks of
Compagnie Financière Tradition S.A.

MEDIA CONTACTS

Chatsworth Communications
tradition@chatsworthcommunications.ch

Press release_Trad_X:
http://hugin.info/133362/R/1878396/662129.pdf

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Source: Compagnie Financière Tradition via GlobeNewswire
[HUG#1878396]