Trading Platforms
What Trading Platforms does TraditionSEF offer for access to market liquidity?
TraditionSEF is primarily an operator of Central Limit Order Book (CLOB) liquidity which it provides under a “hybrid” model. Hybrid being the combination of electronically provided orders (In several of our markets, TraditionSEF has electronically streamed two-way prices from market making firms throughout the trading day) and orders submitted to the SEF by “voice” traders via our in-SEF Brokers. In addition, TraditionSEF operates a voice based RFQ model.
TraditionSEF facilitates and executes market liquidity through some of the most recognized and market leading CLOB Trading Platforms available in the markets today:
Trad-X (Interest Rate Products)
Trad-X is Tradition’s award winning trading platform for OTC Interest Rate derivatives. Forming the backbone of TraditionSEF’s offering in Interest Rate products, the platform has market leading rich functionality, low latency and a proven ability to attract deep high-quality liquidity in a wide range of Interest Rate products for both MAT and Non-MAT transactions.
Widely recognized as the most advanced Central Limit Order Book available in the Interest Rate markets (regularly ranked as the No1 CLOB in Vanilla USD Interest Rates), Trad-X delivers capability designed to meet the demands of today’s evolving market structure and shifting regulatory landscape. Trad-X offers a flexible execution methodology, combining voice and electronic pools of liquidity to ensure access to the richest and most dynamic liquidity available to market participants and the highest-quality trading experience.
Trad-X allows both hybrid and fully-electronic order entry, allowing users to execute the most complex of trading strategies via voice instruction via our in-SEF, SEF Execution Specialists (a.k.a Brokers), direct click-and-trade central limit order book access, and auction services. Trad-X covers a broad range of USD Interest Rate products, including interest rate swaps, FRA’s, overnight index swaps, and single and cross-currency basis swaps.
Developed in conjunction with key market participants, Trad-X provides firm, irrefutable and transparent streamed two-way pricing from at least 12 of the world’s largest global banks.
In addition to serving the needs of TraditionSEF, Trad-X operates independently as a global platform covering EUR and GBP markets. For further details on this platform and it’s capabilities over and above that of the “IN-SEF” activity, please visit : www.trad-x.com
Volbroker (FX Options)
Volbroker is TraditionSEF’s market leading FX Options trading platform and was the first electronic inter-dealer trading venue in this asset class. Developed in conjunction with a group of some of the largest banks in FX Options trading, the Platform has rich functionality, low latency and a proven ability to attract high-quality liquidity from global market participants in a wide variety of currencies.
Volbroker, is designed to deliver Participants the capability to meet the demands of today’s FX Options market inside a framework that provides the ability to trade with counterparties efficiently and effectively in a shifting regulatory landscape. Available as a pure electronic execution venue, Volbroker also connects seamlessly to Traditions IB’s (TFS-ICAP) globally offering a flexible execution methodology, combining voice and electronic pools of liquidity to ensure the highest-quality trading experience.
Volbroker facilitates both hybrid and fully-electronic order entry, allowing users to execute the most complex of trading strategies via voice instruction, direct click-and-trade central limit order book access, and auction services. It covers a broad range of products across G10 and emerging currency pairs.
Designed by FX options traders for real-time performance, with liquidity support from the world's top market makers, Volbroker is the leader for electronic price transparency and efficiency in the global currency derivatives market.
In addition to serving the needs of TraditionsSEF's extensive global participant base, Volbroker also offers services in multiple other international Jurisdictions serving clients who wish to execute transactions on or off SEF. For further details on this platform and it’s capabilities over and above that of the “IN-SEF” activity, please visit : www.Traditionicap.com
StreamGlobal (Credit Derivatives)
StreamGlobal is a real-time trading interface developed over a number of years that allows users to trade in multiple global markets through a single interface. The interface consolidates and synchronizes market data from various trading platforms into a single view, providing visibility of the current markets in real time.
In certain Credit Markets, TraditionSEF utilizes this user friendly platform for the operation of CDX Index Auctions. Using Real-time technology and highly interactive screens available through direct access by traders and/or hybrid interaction via our SEF Execution Specialist trading interest can be entered for execution.
In addition to serving the needs of TraditionsSEF's extensive global participant base, StreamGlobal also offers services in multiple other products international Jurisdictions serving clients who wish to execute transactions on or off SEF. For further details on this platform and it’s capabilities over and above that of the “IN-SEF” activity, please contact: Tel +1-212-238 5908
Where are TraditionSEF’s Platform servers located?
Rates (IRS & USD Inflation) |
Equinix NY4, U.S. |
Rates (Latam) |
255 Greenwich Street, NY |
FXO |
Equinix LD5, UK |
FX NDF |
255 Greenwich Street, NY |
Equities |
Global Switch 2, UK |
Commodities |
Global Switch 2, UK |
Credit |
255 Greenwich Street, NY |
Does TraditionSEF have Business Continuity and Disaster Recovery Plans in place ?.
Yes
Do Authorized Traders receive unique User IDs when approved to use a platform?
Yes
Is the content of a Platform Supplement likely to change from time to time and how are we informed of changes?
Upon an affected change, TraditionSEF distributes a “Notice to Participants” to all registered Authorized Representatives of Participants. Notices are also posted to the TraditionSEF website, as noted above.