Compagnie Financière Tradition : TRADITION TO LAUNCH traFXpure TRADING PLATFORM FOR SPOT FX
Compagnie Financière Tradition /
Compagnie Financière Tradition : TRADITION TO LAUNCH traFXpure TRADING PLATFORM
FOR SPOT FX
. Verarbeitet und übermittelt durch Thomson Reuters ONE.
Für den Inhalt der Mitteilung ist der Emittent verantwortlich.
TRADITION TO LAUNCH traFXpure TRADING PLATFORM
FOR SPOT FX
New initiative, in cooperation with leading global investment banks to deliver
an innovative trading environment for the FX market
Tradition (UK) Ltd, a subsidiary of Compagnie FInancière Tradition SA, today
announced traFXpure. traFXpure will be a new electronic trading platform for
spot FX. traFXpure will provide FX market participants with a low cost,
convenient and equitable venue for sourcing FX liquidity, open to all users on a
fair and equal basis. The platform will utilise Tradition's resilient, flexible,
market-leading proprietary technology.
Key features of traFXpure include:
· Products: Spot FX in CLS currencies
· Access: Any participant who can settle via CLS
· Cost and convenience: Standard FIX API. Low cost and equivalent market
data distributed to the entire market
· Fairness: Execution logic and uniform and transparent pricing ensures
fair execution for all. Transparency: Counterparties fully disclosed post-
trade
Major FX banks already supporting traFXpure include Barclays, BNP Paribas,
Deutsche Bank, Royal Bank of Canada and UBS. Additional banks supporting this
venture are expected to be announced over the next few weeks.
Mike Leibowitz, COO, US and EMEA, Tradition, said: 'The traFXpure platform is
being designed with the support of some of the largest banks in the world. We
look forward to working with these market participants to provide a best-in-
class trading venue for spot FX product.'
Daniel Marcus, Managing Director, Strategy and Business Development, Tradition,
added: 'The traFXpure venture is in line with Tradition's global strategy to
provide electronic execution capability across its entire product range, where
appropriate. The support of such a diverse group of global banks gives us great
confidence in the success of the platform.'
Mike Bagguley, Head of FX and Commodities at Barclays, said 'This initiative is
designed to be easily accessible to all market participants with transparency a
core benefit of the traFXpure platform. Barclays is pleased to be part of such
an initiative which endorses transparency and innovation in the FX spot market-
space.'
Zar Amrolia, Global Head of Foreign Exchange at Deutsche Bank, said: 'Deutsche
Bank supports competition, innovation and transparency in the spot FX market.
Reductions in trading costs and the provision of low cost market data will be of
great benefit to our end-user clients. We look forward to supporting traFXpure
as it works to achieve these aims for all market participants.'
Ed Monaghan, Global Head of FX at Royal Bank of Canada, said 'We are
continuously looking for ways to provide our clients with enhanced choice and
execution quality in the FX spot markets. Through traFXpure, our global and
diverse client base will benefit from an execution facility which enhances both
execution quality and fair pricing.'
Chris Vogelgesang, Co-Head of Macro FX and Short End Rates Trading at UBS, said:
'UBS transacts with clients in every sector of the Foreign Exchange market and
is glad to see that traFXpure is intended to ensure a fair playing field for all
users. traFXpure will be easily accessible and transparent for all participants
and is intended to lower the barriers to entry and costs for all.'
With a presence in 27 countries, Compagnie Financière Tradition SA is one of the
world's leading interdealer brokers (IDB). The Group provides broking services
for a complete range of financial products (money market products, bonds,
interest rate, currency and credit derivatives, equities, equity derivatives,
interest rate futures and index futures) and non-financial products (energy and
environmental products, and precious metals).
Compagnie Financière Tradition (CFT) is listed on the SIX Swiss Exchange. For
more information on our Group, please visit our website at www.tradition.com.
Lausanne, 30 May 2012
Press contacts:
MHP Communications Rochat & Partners
Andrew Nicolls / John Sarsfield Philippe Dunant
Tel.: +44 20 3128 8530 Tel. :
+41 22 718 37 42
Email: Tradition@mhpc.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Compagnie Financière Tradition via Thomson Reuters ONE
[HUG#1615825]
http://www.traditiongroup.com
Compagnie Financière Tradition /
Compagnie Financière Tradition : TRADITION TO LAUNCH traFXpure TRADING PLATFORM
FOR SPOT FX
. Verarbeitet und übermittelt durch Thomson Reuters ONE.
Für den Inhalt der Mitteilung ist der Emittent verantwortlich.
TRADITION TO LAUNCH traFXpure TRADING PLATFORM
FOR SPOT FX
New initiative, in cooperation with leading global investment banks to deliver
an innovative trading environment for the FX market
Tradition (UK) Ltd, a subsidiary of Compagnie FInancière Tradition SA, today
announced traFXpure. traFXpure will be a new electronic trading platform for
spot FX. traFXpure will provide FX market participants with a low cost,
convenient and equitable venue for sourcing FX liquidity, open to all users on a
fair and equal basis. The platform will utilise Tradition's resilient, flexible,
market-leading proprietary technology.
Key features of traFXpure include:
· Products: Spot FX in CLS currencies
· Access: Any participant who can settle via CLS
· Cost and convenience: Standard FIX API. Low cost and equivalent market
data distributed to the entire market
· Fairness: Execution logic and uniform and transparent pricing ensures
fair execution for all. Transparency: Counterparties fully disclosed post-
trade
Major FX banks already supporting traFXpure include Barclays, BNP Paribas,
Deutsche Bank, Royal Bank of Canada and UBS. Additional banks supporting this
venture are expected to be announced over the next few weeks.
Mike Leibowitz, COO, US and EMEA, Tradition, said: 'The traFXpure platform is
being designed with the support of some of the largest banks in the world. We
look forward to working with these market participants to provide a best-in-
class trading venue for spot FX product.'
Daniel Marcus, Managing Director, Strategy and Business Development, Tradition,
added: 'The traFXpure venture is in line with Tradition's global strategy to
provide electronic execution capability across its entire product range, where
appropriate. The support of such a diverse group of global banks gives us great
confidence in the success of the platform.'
Mike Bagguley, Head of FX and Commodities at Barclays, said 'This initiative is
designed to be easily accessible to all market participants with transparency a
core benefit of the traFXpure platform. Barclays is pleased to be part of such
an initiative which endorses transparency and innovation in the FX spot market-
space.'
Zar Amrolia, Global Head of Foreign Exchange at Deutsche Bank, said: 'Deutsche
Bank supports competition, innovation and transparency in the spot FX market.
Reductions in trading costs and the provision of low cost market data will be of
great benefit to our end-user clients. We look forward to supporting traFXpure
as it works to achieve these aims for all market participants.'
Ed Monaghan, Global Head of FX at Royal Bank of Canada, said 'We are
continuously looking for ways to provide our clients with enhanced choice and
execution quality in the FX spot markets. Through traFXpure, our global and
diverse client base will benefit from an execution facility which enhances both
execution quality and fair pricing.'
Chris Vogelgesang, Co-Head of Macro FX and Short End Rates Trading at UBS, said:
'UBS transacts with clients in every sector of the Foreign Exchange market and
is glad to see that traFXpure is intended to ensure a fair playing field for all
users. traFXpure will be easily accessible and transparent for all participants
and is intended to lower the barriers to entry and costs for all.'
With a presence in 27 countries, Compagnie Financière Tradition SA is one of the
world's leading interdealer brokers (IDB). The Group provides broking services
for a complete range of financial products (money market products, bonds,
interest rate, currency and credit derivatives, equities, equity derivatives,
interest rate futures and index futures) and non-financial products (energy and
environmental products, and precious metals).
Compagnie Financière Tradition (CFT) is listed on the SIX Swiss Exchange. For
more information on our Group, please visit our website at www.tradition.com.
Lausanne, 30 May 2012
Press contacts:
MHP Communications Rochat & Partners
Andrew Nicolls / John Sarsfield Philippe Dunant
Tel.: +44 20 3128 8530 Tel. :
+41 22 718 37 42
Email: Tradition@mhpc.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Compagnie Financière Tradition via Thomson Reuters ONE
[HUG#1615825]
http://www.traditiongroup.com