Non-bank market makers: Filling the void in FX*†
Roger Rutherford, COO of ParFX, the FX trading platform, says the development reflects the fact the foreign exchange market, one of the world's largest and most liquid financial markets, continues to adapt and stay relevant in light of changing market and regulatory conditions.
FX: RMB joins the SDR basket*†
Dan Marcus, CEO of ParFX, says: "This is an enormous achievement for a currency that wasn’t easily accessible to mainstream investors a decade ago."
IMF adds Chinese Renminbi to SDR Basket: What does it mean?*
Dan Marcus, CEO of ParFX : “The addition of the Chinese renminbi to the IMF’s Special Drawing Rights basket marks a new milestone in its internationalisation and will help promote further international usage.”
Transforming global foreign exchange markets*
Dan Marcus, CEO of ParFX, an institutional trading venue, summed up the mood of the night: “As anticipated the E.U. referendum vote proved to be the largest risk event for international currency markets so far this year.
Overall, the foreign exchange market expected the U.K. to remain; therefore, the decision to leave caught some market participants by surprise and traders scrambled to reverse their positions, realise hedges and realign their portfolios in the early hours of Friday morning. This triggered significant levels of volatility and pushed sterling to its lowest level in 31 years.”
Comments From CLS And ParFX On Addition Of The Renminbi To IMF SDR Basket*
Dan Marcus, CEO of ParFX, comments: “The addition of the Chinese renminbi to the IMF’s Special Drawing Rights basket marks a new milestone in its internationalisation and will help promote further international usage.
EBS to open NDF pool to non-bank players*†
The measures included installing randomised pauses in the most liquid currency pairs, a move imitating ParFX, and setting minimum requirements for market-makers, including fill ratios and other measures to limit the viability of aggressive high-frequency trading (HFT) strategies.
Few Surprises in Latest BIS Figures*†
Likewise, Dan Marcus, CEO of ParFX, comments: “When the results of the last BIS Triennial Survey were published in 2013, we were looking at a very different market landscape than we are today. In the past three years, there has been a significant shift in market structure, undoubtedly influenced by elements such as black swan events such as the SNB decision, extended periods of low volatility and interest rates, and the continued prominence of disruptive latency-led misbehaviour.
BIS triennial FX survey shows fall in turnover*
With the focus briefly on Asia, Dan Marcus, CEO of ParFX, notes that: “Perhaps unsurprisingly, the data shows that Chinese renminbi has become the most actively traded emerging market currency, overtaking the Mexican peso to become the eighth top-traded currency in the world. With demand set to continue growing, it became clear to us that trading the renminbi in an environment of genuine interest and firm liquidity is a paramount factor for market participants when deciding where to trade.”
Currency Market Shrugs Off Threats to Stay Above $5 Trillion*
“One of the foreign-exchange market’s best qualities is its ability continuously to adapt and stay relevant in light of changing market and regulatory conditions,” Dan Marcus, London-based chief executive officer of Cie. Financiere Tradition SA’s ParFX platform, said before the BIS report was released.
Currency Trading Down for the First Time Since 2001*†
“With demand for the offshore renminbi set to continue growing, it became clear to us that trading the renminbi in an environment of genuine interest,” said Dan Marcus, chief executive of ParFX,a wholesale trading platform.