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 the market's only 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
- 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.