News & Events

TraditionDATA, the data and information services division of Compagnie Financière Tradition (Tradition), has launched its new Secured Overnight Financing Rate (SOFR) Indicative Rate Service. Tradition will combine market leading general collateral (GC) repo trade and volume data sourced from its number one interdealer brokerage desk, alongside anonymised tri-party repo trade and volume data from BNY Mellon.

In the world of brokerage and institutional investing, the role of data is changing, whether it is for risk management, back-testing, hedging, or measuring the costs and quality of execution, writes James Watson, Global Head of Sales at TraditionDATA.

However, with such large quantities of data available, organisations are increasingly demanding more value from their data spend – not only in terms of the information they receive, but also in its relevance, Mr. Watson explains. In this article, he makes the case that data sales and consumption today are heading in the direction of becoming more unbundled, where an investor can pick and choose the data it wishes to purchase, much like someone buying a song on iTunes.

"In the swaps market, we have partnered with TraditionDATA, the data arm of Compagnie Financière Tradition, to create a new data service that consolidates MTS’s French, German, Italian and Spanish government bond data with EUR interest rate data from Tradition’s OTC derivatives trading platform, Trad-X, to produce related Asset Swaps."

TraditionDATA, the data and information services division of Compagnie Financière Tradition (Tradition), has added more depth to its alternative data set following Tradition’s execution of its first TONAR-SOFR cross-currency basis swap.

James Watson, Global Head of Sales (Market Data) at Tradition writes that market data has stayed largely unchanged for decades. Compound that with the increasingly complex market environment of today, with uncertainties caused by Brexit and COVID-19, he argues it’s time for a new way of thinking about data.

Tradition is a key intermediary in facilitating transactions in the underlying products that are foundational to calculation of these new alternative reference rates. Using our leading SOFR data in combination with the Bloomberg Short-Term Bank Yield Index (BSBY), Tradition is now producing a SOFR vs 3month basis swap.

Scott Fitzpatrick, global head of TraditionData, said: "We at Tradition started talking about the Spotify/iTunes model for data two or three years ago as the way we see the data industry evolving and we stand by that view to this day. This model revolutionised music and audio consumption by allowing users to pick what they wanted and creating tailor-made playlists to suit their needs. In a similar manner, the market data industry is shifting towards a far more bespoke method of consumption."

Compagnie Financière Tradition(“Tradition”) celebrated our 18th year in New Zealand and 24th year in Australia operating since 2003 and 1997 respectively. Over the past 24 years Tradition has established ourselves as the leader in derivatives trading in the Australasia region

As a part of our continued commitment to bringing leading edge FX Data and Analytics products to our Customers, TraditionDATA is happy to announce the expansion of our industry leading Foreign Exchange(FX) Data services. TraditionData has invested in our technical capability to significantly enhance and increase our Global FX content.
Tradition have expanded our Global FX coverage

This new offering combines Tradition’s global market-leading FX Options liquid pricing and trade data coupled with analytics from the best OTC pricing and analytic team at Numerix, providing the highest quality volatility surfaces in over 140 currency pairs covering over 31,000 data points.