Tradition distributes Trad-X euro interest rate swaps data

Source: Tradition

Tradition, the global interdealer broker, has announced that data from Trad-X, its hybrid trading platform for OTC derivatives, will be made available from 1 March as specialist content with leading data vendors Thomson Reuters and Bloomberg.

The data will be available on desktops with the ability to license its use within non-display applications. Trad-X's data will initially focus on Euro Interest Rate Swaps.

For the first time in the Euro Interest Rate Swaps market, Trad-X data will display real-time executable best bid and offer prices across all active tenors, streamed directly from 11 diverse global banks which founded and support the Trad-X platform. These include BNP Paribas, Citi, Credit Suisse, Goldman Sachs, HSBC, Morgan Stanley, Nomura, Société Générale, Royal Bank of Scotland and UBS.

Daniel Marcus, Managing Director of Strategy and Business Development at Tradition, said: "Tradition and its founding partners fully anticipate that Trad-X data will become a benchmark price for the Euro IRS market. We have therefore been working closely with data vendors to deliver this key data set. Since Trad-X launched in 2011, the platform has gained significant market share in electronic trading of Euro IRS. Furthermore, the wider trading community have recognised the value of having 11 banks streaming two-way prices on a continuous basis through the Trad-X platform, as well as the integrity and transparency this brings to the market."

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