Tradition Eyes Data Sales, Benchmark Status with US Trad-X Launch

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Interdealer broker Tradition is seeking to expand US sales of market data from Trad-X, its hybrid over-the-counter derivatives trading platform, after expanding the service to include trading in US dollar interest rate swaps last week.

The platform, which was originally launched in March 2011 for trading euro-denominated IRSs, is operated by Tradition and a consortium of 11 major banks including BNP Paribas, Citigroup, Goldman Sachs, HSBC, Morgan Stanley, Société Générale, Royal Bank of Scotland

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