Hillary Clinton HFT tax proposal - reaction from ParFX*
This week, US Democratic Presidential candidate Hillary Clinton proposed an idea of taxing high frequency transactions with excessive order cancellations that are deemed to enable abusive trading or could threaten to destabilise financial markets. In response, Dan Marcus, CEO of ParFX, the trading platform launched by 14 global banks specifically to combat disruptive trading behaviour, outlines his view on how regulatory authorities can tackle this issue.
HFT has a reputation problem*
Dan Marcus, CEO of ParFX, comments on Hilary Clinton’s proposal to tax high frequency transactions with excessive order cancellations that are deemed to enable abusive trading or could threaten to destabilise financial markets.
Challenger FX platforms make their pitch*†
Roger Rutherford, chief operating officer at ParFX, describes executable pricing as a key feature of his platform, adding that wider problems relating to best execution, including signal risk and price flashing, have been minimised because of features put in place to deter disruptive trading, such as randomization, transparency and free market data.
Removing the mask of anonymity*
The reform of prime brokerage trading in spot FX is well underway - and disclosed trading has emerged as a welcome alternative to how non-bank institutions trade spot foreign exchange, says Dan Marcus, CEO of ParFX.
Interest Grows In Offshore Renminbi Trading*
Dan Marcus, chief executive of ParFX, said in a statement that the Chinese currency is one of the fastest growing in the world although it is still in the early of stages of internationalisation. Trading volumes have grown since the introduction of spot trading in the offshore market in 2010 and renminbi trading centres have emerged in Hong Kong, London and Singapore.
RMB: ParFX offers USD/CNH trading*†
ParFX, the wholesale electronic trading platform designed by Tradition and owned by a consortium of 14 banks, has added offshore renminbi (CNH) to its stable of tradeable currencies, with USD/CNH having gone live in September.
FEMR a watershed moment for FX?*†
In the middle ground Dan Marcus says, "As far as last look is concerned, on ParFX and some other venues, what you see is what you get - firm, irrefutable prices that can be executed on a click and trade basis."
October 1st Brings New Data Fees from EBS, and Debate About Trading Costs*
ParFX has been specifically vocal about the benefits of randomization, with Dan Marcus, CEO of ParFX, stating to Finance Magnates, "When combined with a randomized pause of 10-30 milliseconds in an electronic trading environment, ParFX is able to nullify strategies reliant on extreme latency, while offering an efficient trading venue where speed or technological sophistication isn’t a critical factor."
ParFX Releases Free Offshore Renminbi Data*†
ParFX, the electronic spot foreign exchange marketplace owned by interdealer broker Tradition, has made market data on the offshore renminbi (CNH) available to traders, after launching the currency on its trading platform earlier this month.
ParFX adds renminbi to traded currencies *†
Dan Marcus, chief executive of ParFX, said: "As demand for the offshore renminbi continues to grow, our founders and customers recognised the need to trade the renminbi in an environment where there is genuine trading interest and liquidity, and not let it become another tool for disruptive traders."