Trayport and Tradition Announce The Successful Launch Of Refined Oil Trading Technology

26 April 2022 (LONDON) – Trayport Limited (Trayport), a wholly-owned subsidiary of TMX Group, and Tradition Financial Services Limited (Tradition), the interdealer broking arm of Compagnie Financière Tradition and one of the world’s largest interdealer brokers in over-the-counter financial and commodity-related products, today announced the successful adoption of Trayport’s technology across Tradition’s refined oil operations globally.

“We are pleased Tradition chose Trayport as an exclusive technology partner for its refined oil broking, recognising the key role Trayport plays in supporting market participants and the growth of energy trading markets,” said Peter Conroy, CEO, Trayport. “This adoption marks another important step in Trayport’s global growth strategy, focused on new asset classes and geographies and providing solutions where markets are evolving and digitalising. Tradition already uses Trayport’s technology across a number of other markets, and we’re excited that Joule is now being used across refined oil.”

Trayport’s Joule broker solution has been developed to optimise operations for brokers, offering trading success for their clients. Trayport currently has 30 brokers using its technology across multiple asset classes and geographies. Joule is designed to augment broker voice operations and facilitate an electronic hybrid broker model for OTC markets.

“We are thrilled to successfully integrate Trayport’s market-leading technology, across our refined oil broker desks,” said Michael Anderson, Chief Executive Officer, London operations and EMA affiliated offices, Tradition. Ruari Ypma, Global Head of Oil at Tradition, added ”We have played a pioneering role in the development of the OTC oil markets since 1989, and were one of the first to offer full refined product coverage. With Tradition’s global refined oil position and market-leading desks, we’re now taking an exciting step towards the hybridisation of our oil market service.”

Tradition is one of the world’s largest interdealer brokers in OTC financial and commodity-related products.  Now available on Joule to trade LPG, Naphtha, and Gasoline. Contact their desks here

Please visit www.trayport.com/markets/refined-oil-trading/ for more information on trading refined oil through Joule.