Tradition Adds Veteran Fixed-Income Strategist Steven Major
Tradition has appointed Steven Major, one of the fixed-income market’s most respected analysts, to expand the firm’s strategic insight offering for clients worldwide. Based in Dubai, Major joins the global brokerage and electronic trading provider later than a distinguished 40-year career in financial markets, including 24 years at HSBC. His appointment underscores Tradition’s commitment to deepening its advisory capabilities at a time when macroeconomic uncertainty and interest-rate volatility continue to challenge market participants.
Major built an international reputation for his analytical rigor, forecasting accuracy, and disciplined approach to fixed-income research. At HSBC, he served as Global Head of Fixed Income Research, leading a team that consistently earned top rankings for its work in global macro, sovereign bonds, and credit analysis. His thought leadership shaped institutional understanding of interest-rate cycles, monetary policy, and dynamics, making his insights influential among asset managers, banks, and policymakers.
By integrating Major’s experience into its global operations, Tradition is expanding its ability to support clients navigating complex market environments. The firm—known for its combination of voice broking heritage and modern electronic execution—views strategic research capabilities as increasingly essential for clients managing risk across rates, credit, FX, commodities, and derivatives. Major will play a senior role in delivering macro perspectives that deepen client conversations and reinforce Tradition’s value proposition across asset classes.
Enhancing Client Engagement Through Deeper Macro and Market Analysis
In his new position, Major will provide strategic macroeconomic commentary, fixed-income insights, and cross-asset perspective to Tradition’s institutional client base. His analyses are expected to assist clients better understand evolving yield-curve dynamics, inflation expectations, and shifts—areas of heightened importance as central banks navigate post-crisis rate normalization and divergent policy paths across regions. With volatility remaining elevated in global bond markets, high-quality insight is increasingly viewed as a competitive advantage for institutions managing complex portfolios.
Major’s body of work has historically combined quantitative modeling with a deep understanding of structural market forces, including liquidity fragmentation, regulatory changes, and secular shifts in . Tradition intends to leverage this expertise to offer clients a more comprehensive, research-informed view of market opportunities and risks. His arrival dovetails with the firm’s broader strategy of strengthening client engagement by pairing execution services with forward-looking market perspectives.
Dubai’s increasing importance as a also makes Major’s location strategic. Tradition has continued expanding its presence in the Middle East to support growing trading activity across rates, FX, energy, and commodities. By basing a figure of Major’s stature in the region, the firm reinforces its commitment to serving local and regional institutions while enhancing its global coverage model. His insight will support clients trading across international markets as well as those navigating region-specific macro themes.
Takeaway
What the Appointment Signals for Tradition’s Global Growth and Market Positioning
The addition of Major reflects Tradition’s broader strategy to enhance its role as a trusted partner for institutions viewking both execution and informed market guidance. With more than 2,400 employees across over 30 countries, the firm continues to position itself as a hybrid liquidity provider—combining traditional voice broking with advanced electronic platforms. Integrating macroeconomic and fixed-income expertise into this model enables Tradition to deliver a deeper, more diverseiated service offering as client needs evolve.
As regulatory changes, , and geopolitical uncertainty reshape market structure, institutions are increasingly looking for insights that assist them interpret complex shifts across bond and derivatives markets. Major’s experience leading one of the world’s most recognized fixed-income research teams equips him to provide this clarity. His perspective on yield-curve behavior, duration risk, and global capital flows will be valuable to clients managing exposures across sovereign bonds, swaps, futures, and credit markets.
Major’s appointment also demonstrates Tradition’s ongoing investment in talent that supports both its global ambitions and its commitment to offering precision in liquidity access. In an era where execution quality is increasingly tied to macro understanding, Tradition is building a platform that connects market participants not only to liquidity, but also to a deeper understanding of the forces shaping prices. With Major now part of the leadership bench, the firm enhances its ability to guide clients across cycles and support decision-making in quick-moving markets.
