Transaction Network Services (NYSE:TNS) is continuing to expand its secure, high speed and cost efficient connectivity services across different asset classes by partnering with hybrid trading platform Trad-X, developed by global interdealer broker, Tradition.
The Trad-X platform provides a fast, flexible, scalable and resilient method of trading Interest Rates Swaps, which accounts for the largest volume of trades within the OTC market place. The Trad-X system has been developed by Tradition to meet the complex needs of traders operating within a shifting regulatory landscape. TNS continues to grow its trading venue portfolio and now offers connections to alternative venues in the derivatives and commodities space as well as traditional equity venues.
Under the terms of the agreement, TNS is adding Trad-X to its large global financial community as a trading venue on its Secure Trading Extranet (STE). Trad-X Members have the opportunity to securely access the platform by connecting to TNS’ STE.
Yann L’Huillier, Group Chief Information Officer at Tradition, said: “We are capitalizing upon many years of experience in the OTC market place and have developed this proprietary technology allowing our customers to trade on a regulatory compliant, innovative trading platform and make the most of fast moving market changes. As a network agnostic venue, we welcome the TNS offering, which will simplify and make it more efficient for market participants to trade on our Trad-X platform”.
John Owens, VP of Exchanges and ECNs said: “TNS takes great pride in its ever-growing, prestigious global financial community. With the addition of partners such as Trad-X that have a unique business approach, we can provide a new type of trading for our customers.”
TNS customers can access the Trad-X platform via its customizable user interface and using the standard FIX protocol directly or through their ISV of choice. TNS is committed to providing the best in class connectivity services to support businesses engaged in securities trading in any type of asset class and will continue to add new marketplaces, to enhance and improve the TNS customer trading experience.
TNS’ Secure Trading Extranet provides access to TNS’ 1,800-community endpoints, representing buy-side and sell-side institutions, market data and software vendors, exchanges and alternative trading venues, via more than 125 points of presence.
For more information about TNS visit www.tnsfinancial.com.
For more information about Trad-X visit Trad-x.com
For more information about Tradition visit Tradition.com
About Transaction Network Services
Transaction Network Services (TNS) is a leading global provider of data communications and interoperability solutions.
TNS offers a broad range of networks and innovative value-added services which enable transactions and the exchange of information in diverse industries such as retail, banking, payment processing, telecommunications and the financial markets.
Founded in 1990 in the United States, TNS has grown steadily and now provides services in over 60 countries across the Americas, Europe and the Asia Pacific region, with our reach extending to many more. TNS has designed and implemented multiple data networks which support a variety of widely accepted communications protocols and are designed to be scalable and accessible by multiple methods.
For further information about TNS, visit www.tnsi.com. ‘One Connection, A World of Opportunities’.
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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 and employing approximately 2,400 people globally, Tradition is part of Compagnie Financière Tradition and listed on the Swiss Stock exchange (CFT).
Trad-X is a trademark of Compagnie Financière Tradition S.A.
Trad-X is an MTF operated by Tradition (UK) Limited authorised and regulated by the UK Financial Services Authority.
For more information, please visit www.tradition.com.
Designed with the help of the trading community, Trad-X is a logical extension to Tradition’s voice brokerage services. Trad-X enables fully electronic order entry, whilst leveraging the benefits of execution capability of Tradition’s voice brokers. Trad-X can be accessed via its own fully customizable and configurable client GUI, by using its FIX API or through independent software vendors.
Trades can be streamed and executed either fully electronically or via the traditional voice broker, allowing fully hybrid interaction. All electronic prices can interact with our SwapsTrader software used by our brokers for order calculation, to extend liquidity, improve order fill and enable complex strategy execution.
The system allows flexible connectivity solutions using a standard FIX messaging scheme or independent software vendor such as ION. Additionally traders can use a single GUI (Katana) provided by Tradition for order entry, order display and execution.
For more information, please visit www.trad-x.com