Buyside Urged to Help Fix FX*
Dan Marcus, chief executive of currency trading platform ParFX, said in an email that the code aims to instil the notion of truly ethical behaviour for all participants, and outlines an effective framework that, amongst other things, promotes responsible and sustainable trading behaviour.
FX Global Code of Conduct Launch Finds Support Across the Industry*
The CEO of ParFX Dan Marcus adds: “This initiative sets out guidelines and principles that will strengthen the integrity and effectiveness of the FX market. The Code aims to instil the notion of truly ethical behaviour for all participants, and outlines an effective framework that, amongst other things, promotes responsible and sustainable trading behaviour. These key values now need to be hardwired into the FX market.”
Regardless of Article 50, London Remains at the Heart of the FX Industry*
Dan Marcus, CEO of ParFX and Global Head of Strategy and Business Development at Tradition, said: “The geographical location is not necessarily a barrier to trading and it is theoretically possible for trading and liquidity to shift from one jurisdiction to another if the conditions are more favorable.”
Global FX trading volumes fall for second consecutive survey, says BIS*
Dan Marcus, CEO at ParFX, says: "I would not be surprised to see spot levels come back up in the future, given their lower capital and margin requirements, but this market is nothing if not unpredictable."
Transatlantic cables may keep FX routed through London post-Brexit*†
Dan Marcus, chief executive of electronic dealing platform ParFX, said a growing number of trading institutions rely on superior strategies. "For these firms, firmness and depth of liquidity are key, rather than superior speed,” he said.
FX: RMB joins the SDR basket*†
Dan Marcus, CEO of ParFX, says: "This is an enormous achievement for a currency that wasn’t easily accessible to mainstream investors a decade ago."
IMF adds Chinese Renminbi to SDR Basket: What does it mean?*
Dan Marcus, CEO of ParFX : “The addition of the Chinese renminbi to the IMF’s Special Drawing Rights basket marks a new milestone in its internationalisation and will help promote further international usage.”
Transforming global foreign exchange markets*
Dan Marcus, CEO of ParFX, an institutional trading venue, summed up the mood of the night: “As anticipated the E.U. referendum vote proved to be the largest risk event for international currency markets so far this year.
Overall, the foreign exchange market expected the U.K. to remain; therefore, the decision to leave caught some market participants by surprise and traders scrambled to reverse their positions, realise hedges and realign their portfolios in the early hours of Friday morning. This triggered significant levels of volatility and pushed sterling to its lowest level in 31 years.”
Comments From CLS And ParFX On Addition Of The Renminbi To IMF SDR Basket*
Dan Marcus, CEO of ParFX, comments: “The addition of the Chinese renminbi to the IMF’s Special Drawing Rights basket marks a new milestone in its internationalisation and will help promote further international usage.
Few Surprises in Latest BIS Figures*†
Likewise, Dan Marcus, CEO of ParFX, comments: “When the results of the last BIS Triennial Survey were published in 2013, we were looking at a very different market landscape than we are today. In the past three years, there has been a significant shift in market structure, undoubtedly influenced by elements such as black swan events such as the SNB decision, extended periods of low volatility and interest rates, and the continued prominence of disruptive latency-led misbehaviour.