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."
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.
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."
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."
Offshore Renminbi Features As Top 5 Currency By Volume On ParFX*
ParFX, an FX trading platform set up to nullify disruptive high frequency trading, has announced that the CNH/USD currency pair has become one of the top five currency pairs on the platform by volume, less than 2 months after introducing the offshore Renminbi in September, 2015.
StanChart's Knight exits*†
When Knight took the e-trading helm at Standard Chartered, it was running its electronic trading through the products of various vendors. The bank later developed and maintained its own platforms, and it is now one of the 11 founding members of ParFX, the spot FX trading platform launched in April 2013.
HFT, Dark Pools and Spoofing in Hillary Clinton’s Crosshairs*
Dan Marcus, CEO of ParFX, the platform launched by 14 global banks specifically to combat disruptive trading behaviour, says Clinton’s approach is not new (a tax on financial transactions has been floated in Europe) and does not focus on the right issues.