The international bond-trading platform Eurex Bonds has admitted Tradition, through its subsidiary TSAF, as first inter-dealer brokerage company to trading, thus expanding into a new participant group. In addition to banks trading on the platform, Eurex Bonds aims to gain further brokers and proprietary trading companies as participants. The company expanded its admission framework in July this year in close consultation with its shareholders and opened the platform to this group of participants. Since the traditional division between interbank trading and proprietary trading is disappearing due to the increasing success of over-the-counter electronic bond trading platforms, it is becoming increasingly important for these platforms to tap into new participant groups.
"In just 5 years the international bond trading platform Eurex Bonds has become one of the most important and liquid electronic marketplaces for fixed-income securities in Europe," said Dominique Velter, Strategic Marketing Manager of Tradition. "It is a great honor for us to be the first brokerage firm to be admitted as a member of Eurex Bonds. We are very enthusiastic about this opportunity to partner with Eurex Bonds in the over-the-counter markets."
Notes to the editor:
About Eurex Bonds:
The international bond trading platform Eurex Bonds comprises 34 participants, including Germany's Bundesbank and the German Finance Agency, which perform their secondary market activities in German government bonds on Eurex Bonds. Further institutions are currently being connected.
In addition to German government bonds, German treasury discount papers (Bubills) and basis-trading instruments, the product range on Eurex Bonds also includes German Jumbo Pfandbriefe, German state bonds, KfW bonds, bonds issued by the European Investment Bank, European Covered Bonds from Spain, France, Ireland and the UK, as well as liquid corporate bonds. In addition, Austrian and Dutch government bonds have also been traded on Eurex Bonds since 2005. In October, the average daily turnover of securities traded on Eurex Bonds was around €720 million (single counting), which is a year-on-year growth of 86 percent.
About Compagnie Financière Tradition
With a presence in 18 countries, Compagnie Financière Tradition is one of the world's top three brokers in financial (money markets, bonds, interest rate, currency and credit derivatives, equities, equity derivatives, interest rate futures and index futures) and commodity-related products (precious metals, environmental & energy products). The Company is listed on the Swiss Exchange (CFT). For further information, please visit www.traditiongroup.com.
Tradition Securities And Futures ("TSAF") is a subsidiary of Tradition, more specifically dedicated to the brokerage of bonds, equities, futures and options in Europe. TSAF has been a member of Eurex since July 1995 and Xetra since August 2000.
Media Contacts:
Eurex:
Eurex:
Walter Allwicher, Candice Adam and Alexandra Güntzer : +49-69-211 1-15 00
Frankfurt/Main, 16 November 2005
