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.”
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.
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.
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.
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.
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.
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.”
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.
Awards: Saxo Bank*
“What sets us apart from other prime-of-primes is that we’re completely un-conflicted with our clients,” he says. Instead, the bank provides true and direct market access to about two dozen bank and non-bank liquidity providers, and nine trading venues, with ParFX the most recent addition.
FX: MTFs still reluctant to move even as Brexit approaches*
ParFX chief operating officer Roger Rutherford says the firm has no plans to move operations, staff or its matching engine away from London at this time. “As it stands, London accounts for almost 40% of all currency trading, so it makes business sense for us to remain here,” he says.