Despite sluggish market conditions, operating profit at the
firm rose 31.1% in 2014 and 35.6% in H1 2015 as it continued
to grow its market share and trading volumes.
Tradition is focused on three core strengths: price
discovery and distribution, liquidity development and
excellence of execution. It seeks to operate in a fair and
transparent way in all of its business lines, whether in its
pricing structure and impartial access to its Sef or the level
playing-field concepts engendered by its spot FX platform,
Dan Marcus, global head of strategy and business development
at the firm, says: "We develop products based on a strong moral
code, focused on innovation and in consultation with the
"We work with the industry to establish what they want and
then work with them to develop solutions around that with
honesty and integrity and with a keen understanding of
regulatory reform requirements."
While some of its major rivals are seeking to change tack
and focus on either voice or electronic brokerage, Tradition
remains committed to the hybrid model.
"We are an independent global IDB in the market today focused
on a screen-led hybrid future," says Marcus. "We recognise
the essential symbiosis between voice and electronic trading
to enhance liquidity and provide the customer with flexible
We recognise the essential symbiosis between voice and electronic trading to enhance liquidity and provide the customer with flexible execution capability
Developing products that reflect the firm’s
belief in the hybrid model will be a key focus during 2016,
The firm has continued to grow its Trad-X platform, launched
in 2011 in partnership with 13 of the world’s
largest banks. During the judging period total volumes
exceeded $1 trillion.
Trad-X’s CCP switch service has also made great
inroads, providing the market with a margin-efficient
execution-level collateral management tool for counterparties
to efficiently switch corresponding CCP positions.
In spot foreign exchange, Tradition’s nascent
trading platform, ParFX, went from strength to strength.
In line with its principle of encouraging trading
transparency, the launch of ParFX Prime in September 2014
marked the first instance in spot FX where the executing
broker, prime bank and prime client names were revealed