Forex investors ready to bid farewell to 'last look' abuses *†
ParFX, a foreign exchange venue owned by Tradition, a Swiss interdealer broker, does not have last look. "We don't promote 'non-firm' liquidity - that would completely nullify what we're all about," says Dan Marcus, chief executive. "You could have a single dealer doing a structured trade for a customer, but you wouldn't put the entire trade on the spot FX platform. You may, however, submit a leg or use the platform to hedge."
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.
IMF Adds Renminbi to SDR Basket*†
The addition of the RMB to the SDR basket comes at a time when trading volumes in the Chinese currency are rising. Last month, Tradition's ParFX platform said CNH was the fifth most traded currency on the platform while volumes are also rising on EBS.
FX Week Europe
ParFX hosted the coffee breaks at FX Week Europe.
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."
P&L Singapore
ParFX is a Silver Sponsor and hosted the coffee breaks at P&L Singapore.
USD/CNH enters top-five traded pairs on ParFX *†
The offshore renminbi has joined the top-five traded currencies on ParFX, less than two months after being launched on the trading platform.
FX industry divided on randomization*†
"We believe randomization makes it easier to manage risk, not harder. The introduction of a randomized pause and other features on ParFX has firmed liquidity, increased fill rates and improved efficiency of execution."
ParFX Reports Strong CNH Uptake*†
ParFX says that USDCNH has become one of the top five currency pairs on the platform by volume, less than two months after introducing the offshore renminbi in September. Roger Rutherford, chief operating officer at ParFX, comments: "Since launch we are extremely satisfied with the levels of USDCNH trading on ParFX. In fact, it is already one of the top five pairs on the platform."