Developed for the market, by the market, ParFX is a new wholesale electronic trading platform designed to bring renewed transparency and equality to global spot FX. The platform’s unique matching mechanism applies a randomised pause to all order submissions, amendments and cancellations. This firms liquidity by creating a genuinely level playing field for all participants regardless of technological sophistication or financial strength.
Other benefits include:
ParFX is open to all professional institutions able to settle via CLS and provides those participants with a genuine customer need to trade with a low-cost, convenient and equitable venue for sourcing FX liquidity in CLS-eligible currency pairs. In 2014 ParFX will open to the buy-side, extending access to Prime Clients utilising the credit of their Prime Banks.
ParFX has been designed by Tradition, one of the world’s largest interdealer brokers in over-the-counter financial and commodity-related products, in conjunction with a group of the world’s leading FX banks.