Orange Business Services - Trading Solutions, the leader in voice and electronic trading infrastructure and services for the trading communities, today announced that it has extended the connectivity and functionality capabilities of its financial extranet network TCSnet.
The new offering will include Tradition's global Trad-X platform and has been specifically tailored to meet regulatory demands in the United States following the Dodd-Frank Act. These requirements include efficient trade processing, increased transparency, more competitive execution and a complete and permanent audit trail.
The enhanced connectivity enables customers to continue trading electronically with guaranteed low latency and fast access for receiving market data and FIX protocol transactions, whilst conforming to Dodd-Frank regulations. Leading interdealer broker Tradition, which supports clients from global offices, is a significant customer of TCSnet. The firm finds TCSnet vital to service its customers worldwide. Major investment banks use Tradition's Trad-X platform via Trading Solutions' TCSnet for OTC derivatives and other financial instruments.
"Global connectivity to TCSnet is key for our business as it enables us to efficiently reach our entire customer base," says Yann L'Huillier, Chief Information Officer, Tradition Group. "TCS -metrics, TCSnet's customer portal, is a great addition to us as we are able to oversee our connectivity via the internet at any time of the day monitoring latency, jitter and packet loss to name a few. We welcome Orange Business Services - Trading Solutions as one of our network providers."
"Organisations are seeking the best connectivity experience to achieve business transformation in line with new directives such as MiFID and Dodd-Frank and one of the major pressures from regulators is to achieve more transparency of operations. This is pushing our interdealer broker community to trade via swap execution facilities (SEFs) supported by our network instead of trading swaps by voice," said Lionel Grosclaude, CEO, Orange Business Services - Trading Solutions. He adds, "We were the first provider to launch a post-MiFID network to help the industry meet regulatory challenges. Our low latency, trading dedicated network which is optimised for performance provides the right capabilities to offer our customers fast access to the entire financial community whenever and wherever they need to trade."