9 December 2015
Tradition, one of the world’s largest interdealer brokers in commodity and financial products, has won the Interdealer Broker (IDB) of the Year and SEF of the Year titles at the FOW International Awards, presented last night.
The FOW International Awards for 2015 took place in London and recognise the leaders in derivatives trading, brokerage and technology innovation. Tradition won the top accolade awarded to interdealer brokers for the second consecutive year, as well as the prestigious SEF of the Year award.
In 2015, Tradition focused on strengthening its multi-asset electronic, hybrid and voice divisions, with strategic investments in technology, resources and people enabling it to maintain its role at the forefront of trading and innovation. In particular, it differentiates itself through its commitment to working with a broad range of market participants to deliver multi-asset solutions. One judge commented that Tradition "have focused on building solutions that fit a market requirement without simply trying to protect the status quo of the historic mode of operation."
The judges also recognised the market-leading role of TraditionSEF, the Swap Execution Facility operated by Tradition, which was praised by one judge for its "true adherence to the spirit of Dodd-Frank."
Daniel Marcus, Global Head of Strategy and Business Development at Tradition, comments: "This award is a great testament of our global efforts and successes over the past 12-18 months. Interdealer brokers have operated in an environment of varying market conditions and regulatory change. Despite this, our strong geographical and product diversification, combined with investment in resources and innovative trading technology, has resulted in tangible growth in Tradition’s market share, trading volumes and operating profit.
"Tradition is a leading wholesale markets broker offering voice, electronic and hybrid solutions. We are strongest as an independent global market-focused execution venue and remain more innovative and nimble than our competitors. This is a source of major competitive advantage as we head in to 2016."
Scott Fitzpatrick, CEO of TraditionSEF, added: "Winning SEF of the Year caps a remarkable year for Tradition’s SEF division. From our starting point pre-SEF in 2011 when we were the only CLOB venue to offer firm, irrefutable pricing underpinned by actual trades by market participants, we have successfully built on this and continue to attract strong support from a large and diverse group of clients. More importantly, our On-SEF USD IRS Electronic trading doubled during the first three quarters of the year and new reference screens have been introduced across a wider range of products. Overall, we are extremely well positioned to maintain our market-leading role as we enter 2016."
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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 29 countries, Tradition employs 2,400 people globally. Tradition is the trading name of Compagnie Financière Tradition (CFT), which is listed on the Swiss stock exchange. Tradition's activities are overseen by global regulators including the FCA, SEC and CFTC. For more information, please visit www.tradition.com. Tradition and Trad-X are registered trade marks of Compagnie Financière Tradition S.A.
Trad-X is an MTF operated by Tradition (UK) Limited authorised and regulated by the UK Financial Conduct Authority and is an integral part of the IRS Market offering by Tradition SEF which is authorized and regulated in the United States by the U.S. CFTC.
For more information, please visit www.tradition.com and www.trad-x.com.
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