'Last look' proves divisive - ACI and ParFX commentary*
Last look FX execution: Marshall Bailey of ACI and Dan Marcus of ParFX discuss*
Dan Marcus, CEO of ParFX comments: "Last look is still used as a form of execution by some participants, but there seems to be a misconception that there is a significant time lag between when a trade was entered into a trading system and when it was executed thereby leading to routine abusive behaviours.
ParFX eyes further growth as it nears third year*†
Nearly two years on from its launch, spot foreignexchange trading platform ParFX remains focused on onboarding new bank and nonbank clients as it continues to compete for market share with incumbent platforms.
What Next for the IDB Industry?*†
Tradition has also launched new ventures of note, rolling out ParFX, its electronic spot FX platform and Trad-X, its hybrid OTC derivatives platform in 2013.
Removing the Mask of Anonymity in FX Prime Brokerage Trading*†
Prime brokerage trading has proven to be revolutionary for the growth of spot FX. But the model has allowed a small minority of participants to hide their identities and engage in a range of disruptive trading behaviors. Showing counterparty names posttrade in spot FX enhances transparency, genuine liquidity and trading relationships, encouraging responsible trading behavior.
ParFX Grows Volumes In Spot Market*
Dan Marcus, chief executive of ParFX, said the wholesale spot foreign exchange electronic trading platform is increasing volumes on a daily basis thanks to a model which includes randomised delays to orders.
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.