London, April 16, 2010 – Tradition announces today that its long established benchmark interest rate swap pages will be included in the latest update to the 2006 ISDA® definitions. Tradition’s GBP, EUR, USD and JPY interest rate swap pricing is to be included as a reference source for short, medium and long term IRS contracts.
 
Due to market demand Tradition will be the first broker to offer both AM and PM fixings with each of the currencies; the morning reference rates at the time of issue of the local interbank fixing and the afternoon rates for revaluation. These fixings will be of use to everyone active in interest rate markets as a benchmark for fair value interest rates during the trading day.
 
This initiative demonstrates Tradition’s continued commitment to providing open and transparent benchmark pricing across key OTC derivative products. The Tradition ISDA recognized pages for short and medium/long term interest rate swaps include:

• GBP TTSV and TSTG1 at 11am and 4.15pm London time
• EUR TREN and TTST1 at 10am and 4.15pm London time
• USD TDOL and TDOIS at 11am and 4pm NY time
• JPY MIRS3 and MIRS8 at 11am and 3pm Tokyo time

The ISDA fixings are taken from Tradition’s established live pages. Further rates and fixing pages are available, including comprehensive JPY Tokyo data from the main index page MINDEX.

Simon Crees, Global Head of Data, Tradition said:

“We are delighted to have achieved ISDA recognition for this key project. It is our intention to continue to work with our clients to expand availability of reference pricing to include emerging currency rates."