21 September 2017
Robert Parr, Head of Business Development at ParFX
Billed as ‘Europe's Leading FX Trading Event’, I departed for my inaugural TradeTech FX in Barcelona last week with high expectations and wasn’t disappointed.
Held at the Fairmont Rey Juan Carlos, a good mix of both buy-side and sell-side representatives were in attendance, providing me with the opportunity to network and catch-up with some of our founder banks and other customers which is always a pleasure.
The event brought together over 400 senior foreign exchange (FX) professionals to discuss the biggest issues facing the FX market today through roundtable discussions, workshops and live debates.
On the agenda were a wide range of topical concerns, including the potential implications of Brexit, the impact of the recent FX Global Code of Conduct and the rapid approach of MiFID II.
In an Oxford-style debate on day two, panelists discussed whether Brexit would lead to London losing its position as the global FX hub. After a lively dialogue, the audience cast their votes and there was a general consensus that London would retain its crown, with a final tally of 61:39 in agreement.
Another highlight was Chris Salmon, Executive Director at the Bank of England, opening the segment on ‘New Frontiers in FX’ with a timely keynote that highlighted the importance of the FX Global Code. With over 20,000 individual downloads of the Code to-date he was encouraged by the early signs of adoption, but warned of the need to maintain this momentum and to ensure that firms across the full range of wholesale market activities are equally committed to incorporating the Code into their business practices.
Other hot topics such as last look and need for increased transparency in FX were often raised by panelists and it was interesting to see how much the Code is already helping to spark and shape conversation. ParFX has already announced our support the Code. Our platform is based on the key principles of fairness, transparency and equality which align closely with the overall objectives of the Code itself.
After immersing myself in two days of lively discussion, I look forward to attending next year’s event!
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