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London, 11 November 2011 – Tradition, the global interdealer broker, today announced that Trad-X, its hybrid trading platform for OTC derivatives and other financial instruments, has won Best Industry Infrastructure Initiative at the 2011 Banking Technology Awards.The Banking Technology Awards is a leading industry event whichrecognises excellence in the use of IT within financial services.
Trad-X is Tradition’s response to on-going changes in the OTC derivatives market and its commitment to future-proofing the industry. Trad-X utilises propriety technology to provide a fully electronic multi-asset class trading platform for OTC derivatives with hybrid and fully automated functionality and low latency.Its hybrid functionality provides the flexibility to allow traders to combine electronic and voice execution methods, to generate the best results in any market conditions.Designed in consultation with market participants, Trad-X is a logical extension to Tradition’s voice brokerage services.
Daniel Marcus, Tradition Managing Director – Strategy and Business Development, commented: “This is a greataccolade for Trad-X,Tradition and its founder partners. The award recognises the way we’ve been able to enhance liquidity, transparency and efficiency, and demonstrate significant technical innovation in a climate of regulatory change for OTC markets.Winning the inaugural industry infrastructure award is a real honour, as we have worked closely with the market to create a solution that meets their requirements.”
MHP CommunicationsKit Dunford
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Tradition is one of the world’s largest interdealer brokers in over-the-counter financial and commodity related products. Represented in 27 countries, Tradition employs 2,400 people globally. Tradition is the trading name of CompagnieFinancière Tradition (CFT) and listed on the Swiss stock exchange. For more information, please visit www.tradition.comand www.trad-x.com.
Trad-X is a trademark of CompagnieFinancière Tradition SA.
Trad-X is an MTF operated by Tradition (UK) Limited, authorised and regulated by the UK Financial Services Authority.
Tradition Energy is one of the world’s largest energy management and procurement advisors to commercial, industrial and governmental organizations with over 300 energy specialists in 11 offices covering both the wholesale and retail energy markets since 1986. Tradition Energy is part of the Tradition Group, a leading global institutional broker of financial and commodity products. Tradition employs over 2,500 people in 27 countries around the world and is publically listed on the Swiss stock exchange (CFT).