FT: Tradition to launch collateral trading platform Elixium, sell DBV-X to BNY Mellon

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”.
The full article is available here: http://www.ft.com/intl/cms/s/0/e396c746-0b02-11e6-b0f1-61f222853ff3.html?siteedition=intl&ftcamp=published_links%2Frss%2Fcompanies%2Ffeed%2F%2Fproduct#axzz46psjPWU9

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