Tradition wins prestigious interdealer broker and SEF of the year awards
Tradition, one of the world’s largest interdealer brokers in commodity and financial products, has won the Interdealer Broker (IDB) of the Year and SEF of the Year titles at the FOW International Awards, presented last night.
The FOW International Awards for 2015 took place in London and recognise the leaders in derivatives trading, brokerage and technology innovation. Tradition won the top accolade awarded to interdealer brokers for the second consecutive year, as well as the prestigious SEF of the Year award.
IDB of the Year: Tradition*
Tradition is focused on three core strengths: price discovery and distribution, liquidity development and excellence of execution. It seeks to operate in a fair and transparent way in all of its business lines, whether in pricing structure and impartial access to its Sef or the level playing fields engendered by its spot FX platform, ParFX.
The Brit beating the forex flash boys in less time than the blink of an eye*†
"We provided a commitment to deliver, they provided the commitment that they would trade on the platform," Dan Marcus, chief executive of ParFX, says. Tradition set a five-year business plan and is "taking market share every day", according to Mr Marcus. "We’re bang on track."
HFT, Dark Pools and Spoofing in Hillary Clinton’s Crosshairs*
Dan Marcus, CEO of ParFX, the platform launched by 14 global banks specifically to combat disruptive trading behaviour, says Clinton’s approach is not new (a tax on financial transactions has been floated in Europe) and does not focus on the right issues.
Hillary Clinton HFT tax proposal - reaction from ParFX*
This week, US Democratic Presidential candidate Hillary Clinton proposed an idea of taxing high frequency transactions with excessive order cancellations that are deemed to enable abusive trading or could threaten to destabilise financial markets. In response, Dan Marcus, CEO of ParFX, the trading platform launched by 14 global banks specifically to combat disruptive trading behaviour, outlines his view on how regulatory authorities can tackle this issue.
HFT has a reputation problem*
Dan Marcus, CEO of ParFX, comments on Hilary Clinton’s proposal to tax high frequency transactions with excessive order cancellations that are deemed to enable abusive trading or could threaten to destabilise financial markets.
Removing the mask of anonymity*
The reform of prime brokerage trading in spot FX is well underway - and disclosed trading has emerged as a welcome alternative to how non-bank institutions trade spot foreign exchange, says Dan Marcus, CEO of ParFX.
Interest Grows In Offshore Renminbi Trading*
Dan Marcus, chief executive of ParFX, said in a statement that the Chinese currency is one of the fastest growing in the world although it is still in the early of stages of internationalisation. Trading volumes have grown since the introduction of spot trading in the offshore market in 2010 and renminbi trading centres have emerged in Hong Kong, London and Singapore.
FEMR a watershed moment for FX?*†
In the middle ground Dan Marcus says, "As far as last look is concerned, on ParFX and some other venues, what you see is what you get - firm, irrefutable prices that can be executed on a click and trade basis."
October 1st Brings New Data Fees from EBS, and Debate About Trading Costs*
ParFX has been specifically vocal about the benefits of randomization, with Dan Marcus, CEO of ParFX, stating to Finance Magnates, "When combined with a randomized pause of 10-30 milliseconds in an electronic trading environment, ParFX is able to nullify strategies reliant on extreme latency, while offering an efficient trading venue where speed or technological sophistication isn’t a critical factor."