Trad-X, a global hybrid platform for trading interest rate swaps, has launched a US dollar (USD) interest rate swap product in the US.
The new service follows the original launch 18 months ago of Trad-X by Tradition, the interdealer broking arm of Compagnie Financière Tradition, which is supported by 11 of the world’s largest banks and has developed as a hybrid liquidity source for euro interest rate swaps. The new platform expands its services into another key trading currency.
“We are delighted to be expanding the range of products in the Trad-X universe,” said Daniel Marcus, global head of strategy and business development at Tradition. “Trad-X USD is a transparent industry initiative and has been designed by the market for the market. We hope it achieves a similar level of success as our Euro IRS offering.”