Compagnie Financière Tradition : ParFX launches trading in Hungarian forint

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Compagnie Financière Tradition : ParFX launches trading in Hungarian forint
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Source: Globenewswire

Press Release
Lausanne, 27 Juanuary 2016

ParFX launches trading in Hungarian forint

Industry-backed platform also introduces additional CLS currency pairs



ParFX, the wholesale electronic trading platform, today expanded the number of
currencies offered on its platform with the addition of the Hungarian forint
(HUF).

In recent years, the Hungarian forint has become increasingly popular among
the global FX trading community, with approximately 90% of Hungarian forint
trades executed outside of Hungary's domestic borders. According to the Bank
for International Settlements, it is one of the 25 most actively traded
currencies in the world.[1]

The introduction of EUR/HUF to ParFX follows the recent addition of the forint
to the CLS settlement system, and has been welcomed by the platform's growing
customer base.

ParFX also announced the addition of a number of CLS-eligible currency pairs,
with AUD/JPY, NZD/JPY, USD/SEK, USD/NOK and USD/DKK being introduced alongside
EUR/HUF.

Dan Marcus, CEO of ParFX, comments: "The addition of the Hungarian forint and
other currency pairs is in line with our aim to increase ParFX's global reach
- both in terms of the range of participants and currencies traded. The HUF in
particular has been identified as a currency with considerable growth
potential, and there is strong interest from customers to trade it in the fair
and transparent environment offered by ParFX."

Gary Harcombe, Senior Spot Emerging Markets Trader at UBS, comments: "The
Hungarian forint has met a number of important milestones in recent years,


becoming one of the world's top 25 most traded currencies, and more recently,
gaining eligibility for CLS settlement. Its inclusion reduces the risk and
funding required to trade the forint and lays the foundations for further
growth. There is strong appetite amongst foreign exchange investors to trade
the HUF.

"ParFX has a number of features that differentiate its offering and we believe
it offers an ideal environment for execution and stable liquidity,
particularly for a fast-growing international currency."

[1] 2013 Triennial Central Bank Survey




ABOUT ParFX


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 elements: amendments, cancellations and confirmations. This firms
liquidity by creating a genuinely level playing field for all participants
regardless of location, technological sophistication or financial strength.

Other benefits include:

* Enhanced trade cycle transparency - lit pre-trade, full disclosure post-
trade
* Low-cost and easy access through industry-standard FIX protocol API
* Democratic incorporation of trading costs into actual transaction
* Transparent trading pricing set equally for all users
* At-cost market data distributed in parallel to all active participants

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.

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.

www.parfx.com




ABOUT TRADITION


Compagnie Financière Tradition SA, one of the world's largest interdealer
brokers in over-the-counter financial and commodity related products.
Represented in 28 countries, Compagnie Financière Tradition SA employs 2,200
people globally and its activities are overseen by global regulators including
the FCA, SEC and CFTC.  Compagnie Financière Tradition SA is listed on the
Swiss stock exchange. For more information, please visit www.tradition.com.
Tradition and ParFX are registered trade marks of Compagnie Financière
Tradition S.A.

MEDIA CONTACTS


Nick Murray-Leslie/Ataur Rahman
Chatsworth Communications
+44 (0)20 74409780
tradition@chatsworthcommunications.com





CFT_Press release:
http://hugin.info/133362/R/1981443/725953.pdf



This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

Source: Compagnie Financière Tradition via GlobeNewswire
[HUG#1981443]




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Bereitgestellt von Benutzer: hugin
Datum: 27.01.2016 - 06:30 Uhr
Sprache: Deutsch
News-ID 1313338
Anzahl Zeichen: 5844

Kontakt-Informationen:
Stadt:

Lausanne

Kategorie:

Wirtschaft (allg.)

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