In the News

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Read the latest news and views from the heart of the FX market.

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On the FX Global Code

One can imagine that institutions that don’t sign up risk losing out on business. Several central banks [have said] they would only maintain counterparty relationships with firms that commit to the Code. 

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3 October 2018, Euromoney

FX: Market responds to BIS report – ‘That’s evolution, baby’ *

The banks that are dominant now were among the first to embrace technology and as a result have built global franchises with embedded risk management, price discovery and execution tools that enable them to manage client flow effectively and cater to a wide range of trading strategies and order types, observes ParFX chief operating officer, Roger Rutherford.

24 September 2018, Finance Magnates

ParFX Reports Rising Revenue for 2017, Profits Spike*

One of the most dynamic spot FX trading platform providers in the industry, ParFX has filed its annual results with the UK Companies House. The firm is reporting that its clients base has continued growing throughout 2017.

13 September 2018, Euromoney

Fx data: How disruptive are the disruptors?*

Market data packages are often unbundled and sold separately to improve profit margins, further increasing costs for trading institutions, says ParFX CEO, Dan Marcus. “There is a realization that institutions are paying vastly different amounts for the data they receive. Large institutions are negotiating better prices and cutting special deals based on how much they agree to trade on a particular venue, which means smaller institutions with lower trading volumes and less bargaining power are struggling to get value for money.”

6 September 2018, Risk.net

Interdealer broker rankings 2018: shuffling the pack*†

When this kind of uncertainty is piled onto the various pressures brokers already face, it’s not surprising there have been changes in Risk’s broker rankings this year. While Icap retained its position at the top of the overall rankings, its stablemate Tullett Prebon fell to fifth position – down from second in 2016 and third in 2017. Tradition, on the other hand, shot up to second on the back of improved performances in rates, and strong showings in equity and currencies.

4 September 2018, Finance Magnates

Unfair Deals and Unbundled Costs – Will Market Data Fees Stop Rising?*

Speaking to Finance Magnates, Dan Marcus, Chief Executive Officer of spot FX trading platform ParFX, noted that unbundling was a major cause of increasing market data costs.

3 September 2018, FOW

Market data providers must end fee disparities – ParFX*†

According to Dan Marcus, chief executive officer of Tradition-owned spot FX trading platform ParFX, it has “come to light that some institutions are paying vastly different amounts for the data" they receive.

29 August 2018, Finance Magnates

Cassina and L’Huiller Join Board of Trading Software Consultancy*

During his extensive career at Tradition, L’Huillier implemented its first electronic trading platform for the EURO IRS business Trad-X in May 2011. In April 2013 he was also instrumental in the deployment of the company’s first spot FX electronic platform, ParFX.

17 July 2018, Finance Magnates

Exclusive: ParFX CEO – FX Industry Can Work Together for Ethical Reform*

Keeping a close eye on the proceedings was Dan Marcus, CEO of ParFX, a spot FX trading platform which shares much in common with the FX Global Code. ParFX was developed by a group of the largest FX trading institutions in the world, which had become frustrated with the deteriorating trading environment on public spot FX trading venues and wanted to reintroduce fair, equal and transparent behaviour to their day-to-day trading activities. This week, Finance Magnates spoke to Marcus about the outcomes of the GFXC’s annual meeting, the future of the organisation and ParFX’s plans for the future.

9 July 2018, FX Week

Awards: ParFX*

ParFX introduced a completely new concept to the market when it launched five years ago, to thwart the efforts of high-frequency trading firms gaining an advantage by using technology and ultra low-latency trading – randomisation. This year, ParFX has been voted Best e-FX Trading Venue of the Year at the 2018 FX Week e-FX Awards – its second win since the venue launched. “We’re flattered to a certain degree that a number of platforms have tried to change direction in an attempt to emulate our pure principles,” says Roger Rutherford, chief operating officer of ParFX. “It validates what we’ve been trying to do.”

9 July 2018, FX Week

15th annual e-FX Awards winners*†

Following a long and exhausting run-up to Mifid II, FX market participants have gone to work again. The level of innovation and momentum in the market is building as the industry dares to look beyond the current state of play, and moves to make processes more efficient and more transparent. Best e-FX Trading Venue – ParFX.

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