Foreign exchange: the democratisation of forex trading*
"It's no longer just about making people's money move," says Roger Rutherford chief operating officer at ParFX.
Speed is losing its edge in FX*
Roger Rutherford, chief operating officer at ParFX, suggests that diminishing marginal returns and exponential cost increases have forced high frequency traders to accept that speed is no longer enough to stay ahead of the game. As a result, there has been a distinct shift towards strategy and analytics in order to make smarter trading decisions and gain a competitive edge.
China's wavering path to renminbi internationalisation*
"Bolstered by the emergence of offshore hubs in Singapore, London and Frankfurt, the currency has risen to prominence on global spot FX markets and we anticipate that renminbi-denominated trading will continue to grow rapidly over the coming years," says Roger Rutherford at ParFX.
ParFX is not for sale *†
ParFX was launched four years ago, with a group of 12 founding banks and the backing of broker Tradition. The plan was to introduce a completely new way of matching orders by applying randomised pauses of between 20–80 milliseconds in a bid to eliminate purely technology-driven advantages.
Randomisation raised level of conversation, say Weisberg and Mandelzis*†
Former chiefs of EBS BrokerTec and Thomson Reuters FX praise contribution of Campbell Adams and former rival ParFX. The introduction of randomisation in foreign exchange markets has raised the level of conversation, and forced major trading venues to take a step back and evaluate how they want to position their offerings, the former chiefs of EBS and Thomson Reuters FX told delegates at the 14th annual FX Week USA conference.
Editorial: Are Last Look’s Chickens Coming Home to Roost?*†
I would also argue that some platforms have shown it is not essential to have last look to attract LPs. Forget for a moment that Matching and EBS Market remain the two platforms of record, LMAX Exchange and ParFX have both built businesses without resorting to supporting last look.
FX Week USA
ParFX hosted the coffee breaks at FX Week USA.
FX code of conduct finalised despite ‘last look’ loose end – Global Risk Regulator*†
“What would you prefer? Wouldn’t you rather operate in a good, robust ethical environment based on a set of agreed principles? What’s the other option?” asks Roger Rutherford, chief operating officer at wholesale electronic spot FX trading platform provider ParFX. “The other option would be increased regulation related to the way spot FX is traded.”
ParFX boosts offering with three new European pairs
In line with our goal to provide a fair, equal and transparent trading platform for the global FX market, ParFX has expanded the number of currency pairs on offer to include EUR/CZK, EUR/PLN and NOK/SEK.
The technological revolution*†
Roger Rutherford expresses a paradoxical concern, however: "If regulation comes in force like the Volcker Rule, where banks are not allowed to take proprietary positions in using investors’ money – then it takes us back to the historical days where they're just there to move the money. So is it going to move away from being an asset class?"