Tradition adds two to its repo team

London-based interdealer broker Tradition has added two senior brokers to its repo team in response to increasing demand for the product.

Micky Jones joins the repo team from BGC Partners, where he was head of sterling swaps. Tradition has also recruited Fraser Simpson, formerly GFI's head of credit repos.

Tradition's chief executive, Robin Houldsworth, said that the team was growing to enable it to handle rising demand for repo products on the back of significant growth in credit derivatives trading during the last year.