Tradition, the Swiss interdealer broker, is to launch a new collateral trading platform from next month that aims to shore up Europe’s misfiring repo market.
The new venue, called Elixium, will replace planned venue DBV-X, which is set to move to BNY Mellon, the US custodian bank. It will be run by Nick McCall, a long-serving fixed income trader at Tradition, and will start with what the company calls a “soft rollout”.
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