ParFX boosts currency offering with addition of offshore renminbi
ParFX, the wholesale electronic trading platform, today announced the addition of the offshore renminbi (CNH) as it expands the number of tradeable currencies offered on the platform.
The USD/CNH pair went live on 14 September 2015 following extensive testing, and is a result of global demand from ParFX’s founder banks and customer base, which has expanded significantly since the platform’s inception in June 2013.
ParFX adds renminbi to traded currencies *†
Dan Marcus, chief executive of ParFX, said: "As demand for the offshore renminbi continues to grow, our founders and customers recognised the need to trade the renminbi in an environment where there is genuine trading interest and liquidity, and not let it become another tool for disruptive traders."
ParFX adds offshore renminbi*†
"When you look at the way the market has grown in the offshore renminbi, there is a strong desire in every region around the world - regardless of buy side or sell side - to have a market of fairness and equality across all currency pairs, and that is the underlining ethos of ParFX," says Roger Rutherford, chief operating officer at ParFX."
ParFX Adds Offshore Renminbi Trading After Increasing Demand *
Commenting on the announcement the CEO of ParFX, Dan Marcus stated, "The Chinese currency is one of the fastest growing in the world, but is still in the early of stages of its internationalisation."
ParFX boosts currency offering with addition of offshore renminbi *
"We founded ParFX for this very reason; its concept is rooted in transparency and the platform has already proven to be a strong deterrent against disruptive trading behaviour. For this reason, we are delighted introduce the offshore renminbi to the ParFX trading community."
ParFX adds CNH to currency offering*
The addition of offshore renminbi to the lineup marks another milestone in ParFX’s expansion and reiterates the importance of the Asian market.
ParFX boosts currency offerings with offshore renminbi*
Roger Rutherford, COO of ParFX, added: "The addition of the offshore renminbi marks an exciting milestone in our expansion and will significantly strengthen our presence in Asia in particular."
ParFX adds offshore renminbi to currency offering*
"We founded ParFX for this very reason; its concept is rooted in transparency and the platform has already proven to be a strong deterrent against disruptive trading behaviour. For this reason, we are delighted introduce the offshore renminbi to the ParFX trading community."
ParFX boosts currency offering with addition of offshore renminbi*
ParFX, the wholesale electronic trading platform, today announced the addition of the offshore renminbi (CNH) as it expands the number of tradeable currencies offered on the platform.
Tradition exec slams 'toxic' effect of market data costs *†
Dan Marcus, who is the global head of strategy and business development at interdealer broker Tradition and the chief executive of FX trading venue ParFX, said: "The distribution, cost and methods of accessing market data have become unnecessarily expensive and, in many cases, have fueled the rise of disruptive trading in spot foreign exchange."