Designed by Tradition – one of the world’s largest interdealer brokers in over-the-counter financial and commodity-related products – in conjunction with a group of the world’s leading FX banks, ParFX brings renewed transparency and equality to global wholesale electronic spot FX trading.
The platform’s unique matching mechanism applies a meaningful randomised pause to all order submissions, amendments and cancellations. This firms liquidity by creating a genuinely level playing field for all participants regardless of technological sophistication, financial strength or volumes traded.
Other benefits include:
- Enhanced trade cycle transparency – lit pre-trade, full disclosure post-trade
- Reduced need for internalisation – lowers unwanted carried risk and increases market liquidity
- Low-cost and easy access through industry-standard FIX protocol API or white-labelled GUI
- Democratic incorporation of trading costs into actual transaction
- Transparent trading pricing set equally for all users at USD 2.0 per million USD equivalent
- At-cost market data distributed in parallel to all active participants
ParFX is open to all professional institutions able to settle via CLS and delivers a low-cost, convenient and equitable venue for sourcing FX liquidity to those participants with a genuine need to trade. ParFX is open to non-bank institutions as well as banks, extending access to hedge funds, asset managers, pension funds and corporations utilising the credit of their prime bank.