More NewsTradition Launches traFXpure Trading Platform for Spot FX

Tradition Launches traFXpure Trading Platform for Spot FX

Tradition, an inter-dealer broker, has launched traFXpure, a new electronic trading platform for spot foreign exchange (FX). traFXpure will provide FX market participants with a low cost, convenient and equitable venue for sourcing FX liquidity, open to all users on a fair and equal basis. The platform will use Tradition’s proprietary technology.

Key features of traFXpure include:

  • Products: Spot FX in CLS currencies.
  • Access: Any participant who can settle via CLS.
  • Cost and convenience: Standard FIX API. Low cost and equivalent market data distributed to the entire market.
  • Fairness: Execution logic and uniform and transparent pricing ensures fair execution for all.
  • Transparency: Counterparties fully disclosed post-trade.

Major FX banks already supporting traFXpure include Barclays, BNP Paribas, Deutsche Bank, Royal Bank of Canada and UBS. Additional banks supporting this venture are expected to be announced over the next few weeks.

Mike Leibowitz, chief operating officer (COO), US and Europe, Middle East and Africa (EMEA), Tradition, said: “The traFXpure platform is being designed with the support of some of the largest banks in the world. We look forward to working with these market participants to provide a best-in-class trading venue for spot FX product.”

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