Transaction Network Services recently announced it has partnered with Trad-X in an effort to continue its expansion of secure, cost-effective and high speed connectivity services across different classes of assets. Trad-X is a hybrid trading platform that has been developed by Tradition, a global interdealer broker.

Through this partnership, Trad-X will be added to the large global financial community of TNS (News - Alert) as a trading venue on its Secure Trading Extranet (STE). This will enable Trad-X members to securely access the platform through the extranet.

“We are capitalizing on many years of experience in the OTC market place and have developed this proprietary technology allowing our customers to trade on a regulatory compliant, innovative trading platform and make the most of fast moving market changes,” said Yann L’Huillier, Group Chief Information Officer at Tradition. “As a network agnostic venue, we welcome the TNS offering, which will simplify and make it more efficient for market participants to trade on our Trad-X platform”.

Developed by Tradition, one of the world’s largest interdealer brokers in over-the-counter financial and commodity related products, the Trad-X system meets the complex requirements of traders operating within a shifting regulatory landscape. The Trad-X platform offers a resilient, scalable, flexible and quick means of trading Interest Rates Swaps.

TNS offers connections to alternative venues in the traditional equity space and the derivatives and commodities spaces as well, demonstrating its expanding trading venue portfolio.

“With the addition of partners such as Trad-X that have a unique business approach, [TNS] can provide a new type of trading for our customers,” said John Owens, VP of Exchanges and ECNs at TNS.

TNS customers can access the platform through a customizable user interface using the standard FIX protocol or individual ISVs. TNS serves to support businesses engaged in securities trading in any type of asset class, and focuses on providing the best- in-class connectivity services. To improve and enhance the trading experience of its customers, TNS will continue to add new marketplaces.

With over 125 points of presence, the Secure Trading Extranet from TNS accommodates 1,800-community endpoints representing sell-side and buy-side institutions, software vendors and market data, alternative trading venues and exchanges.