Compagnie Financiere Tradition Gets Lloyds Bank To Join Its Trad-X MTF as Founder
- The hybrid multilateral trading facility launched by the UK FCA-regulated subsidiary of Compagnie Financière Tradition, just got its latest founding member, as Interest Rate Swaps Derivatives builds in EUR, USD, and GBP
The Trad-X platform operated as an FCA-regulated Multilateral Trading Facility (MTF) by Tradition UK Limited, just had Lloyds Bank join its platform as the twelfth founder, thus expanding its consortium of banks, according to an official press release today.
The MTF, operated by the Swiss listed inter-dealer broker Compagnie Financiere Tradition (CFT) group subsidiary, under the Trad-X brand platform, specializes in the trading of global interest rate swaps (IRS) in EUR, GBP and USD currencies , and is now supported by twelve banks. These institutions, via the Trad-X platform provide streaming in two-way prices for IRS derivatives. Trad-X was attributed to having matched orders for a value of nearly $2 trillion since inception.
Christophe Coutte, Head of Rates, Lloyds Bank Commercial Banking
Commenting in the official press release, Christophe Coutte, Head of Rates at Lloyds Bank Commercial Banking said, “We are very pleased to be joining Trad-X as a Founder and look forward to working with Tradition to grow hybrid capability in the GBP market, alongside its more mature currency offerings. Lloyds Bank supports market-led efficient trading solutions and Tradition has shown itself to be a leader in this area."
The CEO of Trad-X, Daniel Marcus, said in the announcement, “We are very excited to have Lloyds Bank as Founder on Trad-X. As one of the leading GBP banks, Lloyds will add further quality Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term, as well as product expertise and input in the development of our nascent GBP hybrid platform. We look forward to GBP IRS replicating the success of our USD and EUR offerings.”
Via its price discovery process from contributors, the Trad-x platform is described as providing around a hundred of the most liquid points on the Euro Interest Rate Swap curve, where 12 banks are now streaming prices electronically, and Trad-X also provides auction functionality in Interest Rate Options.
The electronic multi-asset class Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term is explained as having hybrid features as well as fully automated functionality for OTC derivatives, and designed with the help of the trading community, Trad-X is an extension of Tradition's voice brokerage services.
The platform features are available through the Trad-X GUI or via its FIX API and through 3rd party software vendors such as ION, as explained in the press release.
Subscriptions for trade data are also available via providers such as Bloomberg and Reuters under respective mnemonics for each data page.
Initially launched in 2011 for IRS in EUR, and thereafter for USD and then GBP, the platform was designed together with market participants and founder streaming participants include BNP Paribas, Citigroup, Credit Suisse, Goldman Sachs, HSBC, Morgan Stanley, Nomura, Societe Generale, Royal Bank of Scotland and UBS, as per information on the Trad-x corporate website.
The news from its Tradition subsidiary follows the announcement from CFT of its twelfth member SocGen which joined its Parfx platform at the end of 2013. The broker is expected to report Q4 totals to tally up its yearly figures, after its revenues decreased in the Q3 2013, falling sharply over the prior quarter:
Source: Compagnie Financière Tradition quarterly figures
Related articles
The Trad-X platform operated as an FCA-regulated Multilateral Trading Facility (MTF) by Tradition UK Limited, just had Lloyds Bank join its platform as the twelfth founder, thus expanding its consortium of banks, according to an official press release today.
The MTF, operated by the Swiss listed inter-dealer broker Compagnie Financiere Tradition (CFT) group subsidiary, under the Trad-X brand platform, specializes in the trading of global interest rate swaps (IRS) in EUR, GBP and USD currencies , and is now supported by twelve banks. These institutions, via the Trad-X platform provide streaming in two-way prices for IRS derivatives. Trad-X was attributed to having matched orders for a value of nearly $2 trillion since inception.
Christophe Coutte, Head of Rates, Lloyds Bank Commercial Banking
Commenting in the official press release, Christophe Coutte, Head of Rates at Lloyds Bank Commercial Banking said, “We are very pleased to be joining Trad-X as a Founder and look forward to working with Tradition to grow hybrid capability in the GBP market, alongside its more mature currency offerings. Lloyds Bank supports market-led efficient trading solutions and Tradition has shown itself to be a leader in this area."
The CEO of Trad-X, Daniel Marcus, said in the announcement, “We are very excited to have Lloyds Bank as Founder on Trad-X. As one of the leading GBP banks, Lloyds will add further quality Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term, as well as product expertise and input in the development of our nascent GBP hybrid platform. We look forward to GBP IRS replicating the success of our USD and EUR offerings.”
Via its price discovery process from contributors, the Trad-x platform is described as providing around a hundred of the most liquid points on the Euro Interest Rate Swap curve, where 12 banks are now streaming prices electronically, and Trad-X also provides auction functionality in Interest Rate Options.
The electronic multi-asset class Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term is explained as having hybrid features as well as fully automated functionality for OTC derivatives, and designed with the help of the trading community, Trad-X is an extension of Tradition's voice brokerage services.
The platform features are available through the Trad-X GUI or via its FIX API and through 3rd party software vendors such as ION, as explained in the press release.
Subscriptions for trade data are also available via providers such as Bloomberg and Reuters under respective mnemonics for each data page.
Initially launched in 2011 for IRS in EUR, and thereafter for USD and then GBP, the platform was designed together with market participants and founder streaming participants include BNP Paribas, Citigroup, Credit Suisse, Goldman Sachs, HSBC, Morgan Stanley, Nomura, Societe Generale, Royal Bank of Scotland and UBS, as per information on the Trad-x corporate website.
The news from its Tradition subsidiary follows the announcement from CFT of its twelfth member SocGen which joined its Parfx platform at the end of 2013. The broker is expected to report Q4 totals to tally up its yearly figures, after its revenues decreased in the Q3 2013, falling sharply over the prior quarter:
Source: Compagnie Financière Tradition quarterly figures