Compagnie Financière Tradition : Tradition launches ParFX Trading platform
ID: 855435
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Compagnie Financière Tradition : Tradition launches ParFX Trading platform
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Press release
Tradition launches ParFX Trading platform
A new and more efficient way to trade wholesale FX spot
Tradition, the leading global interdealer broker, today announced the launch of
ParFX, its new spot FX trading platform. The launch follows a successful period
of testing with many global banks and independent software vendors. The platform
is now open to all banks able to settle via CLS.
ParFX is focussed on a growing requirement for and from the market to promote
transparency and equality for all participants. The platform aims to deliver a
genuinely level playing field and high-quality, efficient execution for all
users. Key features include:
* Unique execution logic ensuring fair trading environment for all
* Enhanced trade cycle transparency - lit pre-trade, full disclosure post-
trade
* Low-cost and easy access through industry-standard FIX protocol API
* 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
* Increased competition among trading venues through high-quality and
efficient execution at competitive prices
Daniel Marcus, Global Head of Strategy and Business Development at Tradition,
said: "The support ParFX has received from some of the biggest spot FX market
players in the world shows the appetite for a platform where all participants
can engage on an equal footing. We believe that this, coupled with lower costs
and greater transparency, positions ParFX as the premier option for those
parties committed to providing clients with superior liquidity, transparency and
execution."
ParFX has also announced the appointment of Rob Parr as its first Global Head of
Business Development. Reporting to ParFX COO, Roger Rutherford, Parr will be
responsible for spearheading the nascent platform's global sales effort among
tier 1 and 2 banks, as well as providing market feedback on future ParFX
developments.
Parr joins ParFX from Bloomberg, where he was Head of EMEA Sales, responsible
for the Tradebook FX Platform. Prior to that, he spent 11 years at EBS (ICAP
Electronic Broking), most latterly as Senior Sales Manager and Global Head of
Commonwealth Currencies, where his responsibilities included growing non-core
currencies volumes.
Note to editors
ParFX is currently supported by 11 founder banks: The Bank of Tokyo Mitsubishi
UFJ, Barclays, BNP Paribas, Deutsche Bank, Morgan Stanley, Nomura Securities,
Royal Bank of Canada, SEB, Standard Chartered, State Street and UBS.
About Tradition
Tradition is one of the world's largest interdealer brokers in over-the-counter
financial and commodity related products. Represented in 28 countries, Tradition
employs 2,400 people globally. Tradition is the trading name of Compagnie
Financière Tradition (CFT), which is listed on the Swiss stock exchange.
Tradition's activities are overseen by global regulators including the FCA, SEC
and CFTC. For more information, please visit www.tradition.com. Tradition and
ParFX are trademarks of Compagnie Financière Tradition S.A.
Lausanne, 18 April 2013
Press contacts:
MHP Communications Voxia communication
John Sarsfield / James Morgan / Fern Hammond Jérémy Nieckowski
Tél. : +44 20 3128 8530 / 8533 / 8092 Tél. : +41 22 591 22 65
Email : Tradition@mhpc.com jeremy.nieckowski@voxia.ch
CFT:
http://hugin.info/133362/R/1693934/557009.pdf
This announcement is distributed by Thomson Reuters on behalf of
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(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 Thomson Reuters ONE
[HUG#1693934]
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Unternehmensinformation / Kurzprofil:
Datum: 18.04.2013 - 07:30 Uhr
Sprache: Deutsch
News-ID 855435
Anzahl Zeichen: 5024
Kontakt-Informationen:
Stadt:
Lausanne
Kategorie:
Wirtschaft (allg.)
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