Waters Rankings 2016: Best Crossing Network Provider — TradingScreen
Tradecross is currently running in beta version and has been supported by 15 buy-side firms

TradingScreen describes TradeCross as "the first anonymous pan-European crossing network designed by the buy side for the buy side," given that a group of Europe's largest long-only asset managers supported the New York-based electronic trading solutions provider in its efforts to build a crossing network that covers all bonds, currencies and countries.
TradeCross allows users to negotiate anonymously only with those counterparties that are within their preferred price range. It was built particularly to address the ongoing issues of bond market illiquidity, which, combined with far-reaching regulatory changes, have negatively impacted fixed-income volumes by strangling trade executions.
The technology was white-labelled and introduced to the market on two continents, Asia and Europe, as two different products under the same name. The Asian system is run and marketed by the Singapore Stock Exchange (SGX), while its European twin is under the control of TradingScreen itself.
The TradeCross platform is influenced by two groups of asset managers, according to Alexandre Carteau, OTC product business manager at TradingScreen. The first group, he says, is the “governor’s committee,” which runs the initiative and decides how they want to see the platform in the future, while the second group is the “trading committee,” which runs the trader’s experience. “They are essentially in charge of what the trader sees and needs,” Carteau explains. TradingScreen executes possible changes or upgrades in the system based on suggestions from these two constituents.
As of now, there are 25 members that have come on board over the last seven months; TradingScreen estimates that the process will finish somewhere around September. “Then, we’ll have a full platform and we’ll get out of the beta and have a formal launch,” says Carteau.
TradeCross allows users to negotiate anonymously only with those counterparties that are within their preferred price range. It was built particularly to address the ongoing issues of bond market illiquidity, which, combined with far-reaching regulatory changes, have negatively impacted fixed-income volumes by strangling trade executions.
According to Carteau, the fact that TradingScreen was able to construct a system with the help of the buy side is just one side of the story. The other side, he says, is that the firm is using innovative ways of bringing clients together. “We handle both interests and positions—that has always been very different compared with other platforms, which rely on orders,” he says.
This is the second win for TradingScreen in one of WatersTechnology’s awards: Back in May this year, the firm received the award for the best sell-side OTC trading initiative at the Sell-Side Technology Awards for its TradeExchange platform.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: https://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
Waters Rankings 2025: All the winners and why they won
WatersTechnology readers voted to determine the winners in 35 technology and data categories comprising this year’s virtual Waters Rankings.
Waters Rankings 2025: Best corporate actions solution provider—SIX
Name of product or service: Global Corporate Actions
Waters Rankings 2025: Best enterprise data management (EDM) system provider—Finbourne Technology
Name of product or service: EDM+ (Enterprise Data Management+)
Waters Rankings 2025: Best credit risk solution provider—Moody’s
Name of product or service: Moody’s CreditView with Research Assistant
Waters Rankings 2025: Best portfolio management system provider—RiskVal Financial Solutions
Name of product or service: RVPortfolio
Waters Rankings 2025: Best reporting system provider—Regnology
Name of product or service: Regnology platform
Waters Rankings 2025: Best data analytics provider—JP Morgan
Name of product or service: Fusion by JP Morgan
Waters Rankings 2025: Best market risk solution provider—Numerix
Name of product or service: Oneview for Market Risk