News & Events

Interdealer broker Trad-X has confirmed the launch of a dealer-to-client electronic central limit order book, as it looks to provide an alternative to the traditional request for quote (RFQ) trading protocols.

Trad-X, the market-leading platform for interest rate derivatives, has launched the industry’s first dealer-to-client (D2C) pure electronic central limit order book (CLOB) and completed a number of live transactions between dealers and non-dealers.

Trad-X, the market-leading platform for interest rate derivatives, has launched the industry’s first dealer-to-client (D2C) pure electronic central limit order book (CLOB) and completed a number of live transactions between dealers and non-dealers.

Interdealer Broker of the Year: Tradition, Equity Derivatives Interdealer Broker of the Year: Tradition, FX Derivatives Interdealer Broker of theYear: Tradition, Interest Rate Derivatives Interdealer Broker of the Year: Tradition,

Inter-dealer broker Tradition has said plans to expand the range of currency pairs it offers to clients after the firm brokered the first Aussie/ US dollar cross-currency swap through LCH.

“The ability to close your position at the end of each day, rather like a futures contract, is something clients like very much,” said Mike Hayter, manager of the cross-currencies broking desk at Tradition. “It gives them peace of mind.”

Tradition has facilitated the first brokered AUD/USD cross-currency swap trade using LCH SwapAgent, a service designed to simplify the processing, margining and settlement of non-cleared derivatives.

The panel: Dan Marcus, chief executive, Trad-X.
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The majority of this is at Tradition, followed by Dealerweb, Icap-IGDL and BGC.

See Tradition’s data contribution in graph 1