ParFX is open to all FX trading firms (banks and non-bank institutions) that have direct or third-party access to CLS settlement services and the required level of bilateral credit relationships with other participants on the platform, either directly or via their prime bank.
Connectivity is via industry-standard FIX protocol API to a single matching engine, meaning that no new technology spend is required and advantage cannot be gained by geographical location. Connectivity charges are low-cost and equably applied. ParFX is compatible with multiple connectivity options via private or leased lines or via cross-connects. A list of extranet providers currently supporting connectivity to ParFX is available on request from firstname.lastname@example.org.
ParFX operates an accreditation scheme for access providers serving mutual customers. Those companies listed on the ParFX Accredited Access Providers List have confirmed their acceptance of the scheme’s expectations. Companies wishing to be considered for accreditation should contact email@example.com.
Customers can also opt to access the ParFX platform via a fully-customisable, white-labelled GUI. Developed and powered by FX market specialist TradAir, the ParFX GUI facilitates fast on-boarding and access to ParFX prices for a broad range of customers.
Firms can also elect to access the platform utilising the credit of their prime bank, via ParFX Prime. Uniquely in the market, ParFX Prime provides full trade transparency with the names of the executing broker, prime bank and prime client all being disclosed post-trade.