Tradition picks Paris to “future proof” EU derivatives venue

Trad-X’s dealer-to-client CLOB will be located in Paris, said a spokesperson for Tradition, the interdealer broking arm of Compagnie Financière Tradition: “Anyone who spends time, effort and money to onboard onto a venue wants certainty that what they have done is future proof. At the moment, it is very difficult for the UK to provide that, particularly for MiFID II financial instruments that are subject to a trading obligation.”

The spokesperson added: “As the Brexit picture continued to lack clarity and we had our EU venue authorized, Paris became a more obvious place for the Trad-X Dealer-to-Client (D2C) CLOB to be located. Fortunately, at Trad-X we have the flexibility to service liquidity pools wherever they land to enable the market to ultimately determine where they trade.”

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