Tradition Adds Spot FX with TraFXpure Platform

Switzerland-based electronic trading platform provider Tradition has announced a new platform for spot foreign exchange (FX) trading, to be called traFXpure, that will be supported by a number of major sell-side institutions including Barclays, BNP Paribas, Deutsche Bank, Royal Bank of Scotland, and UBS.

Tradition says the new platform will support spot FX in major continuous linked settlement (CLS) currencies, operate through a standard FIX application programming interface (API), use execution logic and uniform pricing to ensure fair trading competition, and fully disclose counterparties post-trade.

"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," says Zar Amrolia, the bank's global head of foreign exchange.