TFS Launches Anonymous EEX-Cleared Screen for German Power
NEW YORK, January 20, 2006 – Tradition Financial Services GmbH, a leading interdealer broker and subsidiary of Compagnie Financière Tradition, today announced it has added a new trading screen to its current electronic trading platform. The new screen allows for customers to trade EEX-cleared German power contracts on an anonymousbasis and provides them direct access to the EEX for clearing while maintaining anonymity with their counter parties. Once the trade is assigned, the EEX becomes the counterpart for every transaction. As a full member of the EEX, TFS is one of the few brokers who can offer this. Today saw an immediate interest from the market with a significant number of trades going through on the new TFS screen.
"The launch of this product is in response to the demand from traders looking for the security of clearing and the anonymity of an exchange when they trade" said David Jenkins, Director of European Energy operations at TFS. "By combining these two functions, with the liquidity of the OTC markets, we are confident we are giving traders the best of both worlds," he added.