Tag: ParFX

ParFX

ParFX: More of the Same

I n 2010 the FX Pure initiative was launched, which recognised that there were participants in the market that were getting a systematic advantage by using platforms that allowed them to get an advantage just by being fast. In addition, there were a number of other factors that formed an important part of the project; trading and pricing transparency and creating a trading platform with fairness and equality at its core. In 2013, the FX Pure initiative resulted in the launch of ParFX and now, almost 10 years on from the original inception of the idea, Roger Rutherford, the COO of ParFX, insists that the model and its underlying principles are as relevant today as it’s ever been.

ParFX: More of the Same

I n 2010 the FX Pure initiative was launched, which recognised that there were participants in the market that were getting a systematic advantage by using platforms that allowed them to get an advantage just by being fast. In addition, there were a number of other factors that formed an important part of the project; trading and pricing transparency and creating a trading platform with fairness and equality at its core. In 2013, the FX Pure initiative resulted in the launch of ParFX and now, almost 10 years on from the original inception of the idea, Roger Rutherford, the COO of ParFX, insists that the model and its underlying principles are as relevant today as it’s ever been.

FX Volumes Dip from April 2018 Highs

The latest round of FX turnover data from a group of the world’s FX Committees show that volumes dipped slightly in October 2018 compared to April last year when they hit a new high mark. Average daily reported UK FX turnover was $2.6 trillion per day in October 2018. Although this is the third largest turnover figure on record, it represents a 4% decrease from the record high of $2.7 trillion reported in April 2018. Turnover by instrument was mixed in the UK. Spot increased for the third successive reporting period, gaining 3% compared to April 2018 to reach $775 billion traded per day. This represents a 14.5% year-on-year increase in volume.

Prime-of-Prime: A Risky Business?

Galen Stops takes a look at some of the potential risk concerns associated with the prime-of-prime model in FX.

I n a recent survey conducted by Profit & Loss 57.25% of respondents said that they think the trend towards more firms using prime-of-primes (PoPs) rather than traditional FX prime brokers (FXPBs) could increase the impact of a shock event.

This is in contrast to 27.48% who said that it won’t and 15.27% who think the impact of a shock event would be unaffected by this change. The logic underpinning this concern is based on the fact that risk is increasingly being pushed towards less well-capitalised institutions.

Adams Exits ParFX

Campbell Adams has left Tradition’s ParFX where he was head of market.
Adams has played a central role in the development of ParFX as it was his concept of the randomised “speed bump”, or a non-deterministic pause before an order is placed into the matching engine, that drove the initial project – Pure FX – that ultimately became ParFX.
Adams joined Tradition when the brokerage firm took over control of what was then named TraFXPure from a consortium of banks that had funded the initial development phases under Adams’ direction.