EBS BrokerTec draws fire for unbundling and hiking fees*†
"Unfortunately, purchasing additional market data to buy an advantage – often at a cost of tens of thousands a month – has become a harsh modern reality of financial markets. It damages the ability of many firms to execute efficiently and creates a toxic trading environment for those with a genuine interest to trade," said Dan Marcus, chief executive of rival trading platform ParFX, which doesn't charge for market data.
A New Fast Lane for Traders Spurs Plan to Thwart Exploiters*
Dealers responded by setting up the ParFX foreign-exchange venue. Gil Mandelzis became CEO of EBS in 2012. In August 2013, the company introduced a speed bump, known as a latency floor, to reduce the attractiveness of speed as a trading strategy. ParFX has a similar feature on its venue.
TR Matching launches half-pip pricing in EUR/USD*†
The move to add an additional decimal option to EUR/USD comes shortly after rival platform ParFX launched decimalised pricing on its platform. But, while the fifth decimal could be any number on ParFX, Thomson Reuters will only allow half-pip granularity.
Renminbi unpegged: 10 years on*†
"Of the emerging market/developing currencies that have come to the fore in recent years - the renminbi, ruble, rupee, real, lira - the offshore renminbi is best placed to become a truly international currency," says Dan Marcus, chief executive of wholesale electronic trading platform ParFX.
ParFX Prime wins The Banker’s Trading Platform Project of the Year
ParFX Prime, the new prime brokerage service from wholesale global spot FX electronic trading platform ParFX, has been named Trading Platform Project of the Year by The Banker magazine.
This year’s achievement follows The Banker’s 2014 Awards, in which ParFX was named Technology Project of the Year. As an extension of ParFX, ParFX Prime enables buy-side institutions and small to medium sized banks to utilise the credit of...
ParFX Prime wins The Banker’s Trading Platform Project of the Year*
ParFX Prime, the new prime brokerage service from wholesale global spot FX electronic trading platform ParFX, has been named Trading Platform Project of the Year by The Banker magazine.
The Rise Of The Yuan Continues: LME To Accept Renminbi As Collateral*
The following quote is from Dan Marcus, CEO of London-based currency trading platform ParFX who spoke to WSJ: "The rise of China’s currency on global markets is arguably the most significant development in currency trading since the introduction of the euro in 1999."
China’s Yuan Pushes Deeper Into Global Financial System*†
"The role of the renminbi in foreign exchange trading and cross-border payments has surged," said Dan Marcus, CEO of London-based currency trading platform ParFX. The rise of China’s currency on global markets "is arguably the most significant development in currency trading since the introduction of the euro in 1999. Ten years from now, it will be challenging the top major currencies."
Platform Comparison*
"Our model is differentiated from that of our peers and is more relevant than ever in the current market environment. ParFX the only major spot platform to offer full post-trade transparency, and treating all participants equally without exception is central to our ethos."
ParFX to introduce decimalised pricing*†
ParFX is introducing decimalisation on its trading platform in selected currency pairs and adding USD/CNH to its universe of currencies - the first non-CLS settled currency that clients will be able to trade on the venue.