FX: Time for a (foreign ex)change*†
ParFX is another new platform that does not allow last look. Swiss interdealer broker Tradition launched it in 2013 to address disruptive trading behaviour that was deemed to dent both the efficiency of the FX market and confidence in that market.
Market structure evolution - by Dan Marcus, CEO, ParFX
As 7,000 of the great and the good from across the financial services industry descended on Boston in September for the annual SIBOS conference, one theme above all dominated the speeches, panels and bar conversation: The three ‘Rs’ of regulation, regulation, regulation.
'Last look' proves divisive - ACI and ParFX commentary*
Last look FX execution: Marshall Bailey of ACI and Dan Marcus of ParFX discuss*
Dan Marcus, CEO of ParFX comments: "Last look is still used as a form of execution by some participants, but there seems to be a misconception that there is a significant time lag between when a trade was entered into a trading system and when it was executed thereby leading to routine abusive behaviours.
ParFX eyes further growth as it nears third year*†
Nearly two years on from its launch, spot foreignexchange trading platform ParFX remains focused on onboarding new bank and nonbank clients as it continues to compete for market share with incumbent platforms.
Removing the Mask of Anonymity in FX Prime Brokerage Trading*†
Prime brokerage trading has proven to be revolutionary for the growth of spot FX. But the model has allowed a small minority of participants to hide their identities and engage in a range of disruptive trading behaviors. Showing counterparty names posttrade in spot FX enhances transparency, genuine liquidity and trading relationships, encouraging responsible trading behavior.
ParFX Grows Volumes In Spot Market*
Dan Marcus, chief executive of ParFX, said the wholesale spot foreign exchange electronic trading platform is increasing volumes on a daily basis thanks to a model which includes randomised delays to orders.
How Can Interdealer Brokers Help in Stabilizing the Market?*
This cooperative model has since been adopted in the spot foreign exchange market and led to the creation of ParFX, a trading platform backed by 14 of the world’s largest trading institutions, addressing the inefficiencies in relation to asymmetry of cost, information provision and latency-dependent misbehaviour that had become prevalent.
Time is ripe to embrace innovation*†
Dan Marcus and Roger Rutherford on the need to embrace innovation as well as the key themes likely to shape 2015.
Interdealer Brokers: Creating Market Structure Solutions from Within*†
This cooperative model has since been adopted by participants in the spot foreign-exchange market and led to the creation of ParFX, a spot FX trading platform.