Downsized FX markets: causes and implications*
In an attempt to insulate themselves from HFT, several large dealer banks were behind the April 2013 launch of the trading platform ParFX, which applied randomised pauses (measured in milliseconds), known as latency floors, to orders executed on the platform. EBS followed by introducing a latency floor on the AUD/USD pair in August 2013, and then extended it to a number of other currencies in the following months. Similarly, Reuters Matching introduced latency floors in 2014.
Transatlantic cables may keep FX routed through London post-Brexit*†
Dan Marcus, chief executive of electronic dealing platform ParFX, said a growing number of trading institutions rely on superior strategies. "For these firms, firmness and depth of liquidity are key, rather than superior speed,” he said.
FX Week Europe
ParFX hosted the coffee breaks at FX Week Europe.
P&L Singapore
ParFX is a Silver Sponsor and hosted the coffee breaks at P&L Singapore.
FX: Non-bank market makers ‘vital’ to liquidity*†
Roger Rutherford, COO of ParFX, suggests that in a truly efficient market, banks would have the choice to internalize or trade into a public market. "At times, it will make good business sense to internalize flows; it enables banks to internally match (uncorrelated) flows originating from clients and leads to higher profits, lower brokerage costs and reducedreliance on external liquidity pools," he says.
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.