Trad-X users will benefit from regulatory compliant offerings for trading interest rate swaps at competitive execution costs, says BT
BT said it will provide the 15,000 members of its cloud community fast, global and secure access to Tradition’s newly launched hybrid platform, Trad-X via the BT Radianz Cloud.
Earlier this year, Tradition announced the availability of Trad-X for Euro Interest Rate Swaps using its proprietary technology to provide a multi-asset class trading platform for over the counter (OTC) derivatives.
Trad-X users of the BT Radianz community, such as BNP Paribas, Societe Generale and UBS, will benefit from regulatory compliant offerings for trading interest rate swaps at competitive execution costs.
The move is yet another sign of the growth of the BT Radianz Cloud – the world’s largest and longest-running financial services community, said the UK based telecom company.
BT president, global banking & financial markets Andy Nicholson said tradition’s Trad-X is designed to equip traders and banks with access to deep liquidity through its proprietary and next generation technology.
"We understand the importance to our members of secure and reliable access to platforms such as Trad-X and we’re delighted to have been chosen as one of its connectivity providers," Nicholson said.
Tradition Group CIO Yann L’Huillier said their customers demand reliable and secure access to this new hybrid platform.
"With a community of over 15,000 members, the BT Radianz Cloud offers scale and reach, making them a natural choice for Tradition. Similar to all market places, Tradition is network agnostic and is happy to welcome BT as one of its high quality service network providers," L’Huillier said.