The CEO of ParFX, Dan Marcus, added: “This initiative sets out guidelines and principles that will strengthen the integrity and effectiveness of the FX market. The Code aims to instil the notion of truly ethical behaviour for all participants, and outlines an effective framework that, amongst other things, promotes responsible and sustainable trading behaviour. These key values now need to be hardwired into the FX market.”
Roger Rutherford, chief operating officer of currency-trading platform ParFX, said he doesn’t expect big changes in his business as a result of the new code. Still, he says the code is important because “it will draw people’s attention to certain types of behavior.”
Dan Marcus, CEO of ParFX: “ParFX welcomes the launch of the FX Global Code for the wholesale foreign exchange market. This initiative sets out guidelines and principles that will strengthen the integrity and effectiveness of the FX market.
Long-awaited FX global code of conduct is released, but does not ban controversial "last look" practice*
“People on the buy-side, asset managers or hedge funds for example, weren’t aware that they were being priced in a way that was in some respects unfair,” said Roger Rutherford, chief operating officer of spot FX electronic trading platform ParFX.
Dan Marcus, CEO of ParFX: ParFX welcomes the launch of the FX Global Code for the wholesale foreign exchange (FX) market. This initiative sets out guidelines and principles that will strengthen the integrity and effectiveness of the FX market.
Some trading venues don’t allow it, including Curex Group, LMAX Exchange and ParFX, which was created by Cie. Financiere Tradition SA.
ParFX is underpinned by four key pillars: eradicating disruptive trading behavior through a matching methodology that applies a meaningful randomized pause; a transparent post-trade environment where all counterparties – banks and non-banks – can be identified; distributing market data in parallel at no extra cost, which removes the ability to buy an advantage; and a flat and clear fee structure, which ensures all participants receive equal treatment and do not benefit from volume discounts or special deals.
FX Week shortlist ParFX for this year’s ‘Best e-FX trading venue’ award category.
ParFX, the wholesale electronic trading platform, has been named ‘Best Trading Platform’ at the inaugural FinTech Breakthrough Awards.
FinTech Breakthrough, an independent organization dedicated to helping the best financial services and technology products and companies "Break Through" the crowded FinTech industry, today announced the winners of the inaugural FinTech Breakthrough Awards program.
Best Trading Platform: ParFX