Challenger platforms face first real test as FX markets pick up*†
ParFX opened its doors to buy-side market participants with two prime broker banks - Citi and Deutsche - and completed the first buy-side trade in September 2014.
How Can Interdealer Brokers Help in Stabilizing the Market?*
This cooperative model has since been adopted in the spot foreign exchange market and led to the creation of ParFX, a trading platform backed by 14 of the world’s largest trading institutions, addressing the inefficiencies in relation to asymmetry of cost, information provision and latency-dependent misbehaviour that had become prevalent.
Tradition appoints Wilson to business development role*†
Mr Torrey was previously head of sales for Americas at EBS and will help develop ParFX, an electronic spot currency trading venue. Mr Mountain, who was at BGC for 11 years, has also worked at State Street.
Thomson Reuters rethinks FX speed bump*†
ParFX, a bank-backed platform launched last year to rival Thomson Reuters, has a randomised delay of between 20 and 80 milliseconds on orders, while ICAP-owned EBS platform introduced a random-length batching window of between one and three milliseconds in 2013.
Record turnover in UK FX market in October last year says BoE/JSC survey*
"But there are also reasons for optimism; the increased trading levels observed in September and October following a small, albeit significant uptick in volatility, is a clear indication that the market has enormous potential to grow if and when volatility returns for a sustained period," says Roger Rutherford, chief operating officer of ParFX.
Market making pays off for HFTs amid currency turmoil*†
In September last year, Virtu, along with GSA Capital, announced they had become a market maker on ParFX, an FX market launched by Tradition and 14 banks in 2013.
Fair Play*†
ParFX is one FX venue that has tried to change the nature of currency trading by pioneering features such as a randomised pause of 20-80 milliseconds on all order submissions, amendments and cancellations
Time is ripe to embrace innovation*†
Dan Marcus and Roger Rutherford on the need to embrace innovation as well as the key themes likely to shape 2015.
Interdealer Brokers: Creating Market Structure Solutions from Within*†
This cooperative model has since been adopted by participants in the spot foreign-exchange market and led to the creation of ParFX, a spot FX trading platform.
Market innovations restoring confidence in FX, says Tradition*
Tradition’s part in this has been to create ParFX, designed to create a level playing field for traders regardless of size, technological sophistication, financial clout or volumes traded.