New York, NY, December 8, 2010 – Tradition, a leading interdealer
broker and a subsidiary of Compagnie Financière Tradition, today announced its U.S. weather derivatives division completed another successful Dutch auction — the second one in three weeks. The auction was on behalf of a client looking to hedge their weather risk for airports London Heathrow airport (LHR) and Essen Bredeney, Germany (ESS).

Bids were solicited for heating degree days (HDD) futures at LHR for
December 2010 and for the three-month period January – March 2011. Offers were solicited for HDDfutures at ESS for December 2010 and for the January – March 2011 strip. Formal proposals were submitted to Tradition (formerly TFS Energy) and executed on Friday, December 3, 2010. The prices were traded on the Chicago Mercantile Exchange (CME), and the auction cleared 800 lots for ESS/LHRfor a ratio of 960 to 800 HDDs per location.

“Tradition is seeing an increase in weather risk auctions, particularly
throughout Europe,” commented Eric Anderson, Vice President of Global Weather Derivatives at Tradition. “We are confident that this Dutch auction is a good representation of the strength and health of the European hedging market.”

Tradition has led numerous auctions ranging in size from USD 1 million to upwards of USD 100 million of transferred risk. Tradition is a pioneer in the Dutch auction space and has been responsible for brokering weather risk transfers in the U.S., Europe and Asia. Tradition’s weather derivatives desks operate in Stamford, Conn., London and Sydney.

Notes to Editors on Dutch Auction:

For the LHR and ESS auction, offers were accepted in a minimum bid size of 100 lots and were posted and cleared on the CME. LHR was settled in GBP and ESS was settled in EUR.

Inquiries

Eric Anderson, Vice President of Global Weather Derivatives
+1.203.967.0427

Jennifer Van Hofwegen, Head of Marketing and Communications
+1.212.791.6491

About Tradition

Tradition is one of the world’s largest interdealer brokers in over-the-counter financial and commodity related products. Represented in 27 countries, Tradition employs 2,530 people globally. Tradition is the interdealer broking arm of Compagnie Financière Tradition (CFT) and listed on the Swiss stock exchange.

For more information, please visit www.tradition.com.

About Tradition Energy

Tradition Energy is one of the world’s largest energy management and procurement advisors to commercial, industrial and governmental organizations with over 300 energy specialists in 11 offices covering both the wholesale and retail energy markets since 1986. Tradition Energy is part of the Tradition Group, a leading global institutional broker of financial and commodity products. Tradition employs over 2,500 people in 27 countries around the world and is publically listed on the Swiss stock exchange (CFT).
www.tradition.com