Compagnie Financière Tradition : Additional banks sign-up to TraFXpure initiative
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Compagnie Financière Tradition : Additional banks sign-up to TraFXpure
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Press release
Additional banks sign-up to TraFXpure initiative
Platform to be renamed 'ParFX' ahead of imminent launch
Tradition, the leading global inter-dealer broker, has today announced that two
further global banks have confirmed their support of the TraFXpure spot FX
trading platform, adding to the already-substantial industry support for the
initiative.
The Bank of Tokyo Mitsubishi UFJ and Nomura Securities have both added their
names to the list of Founders, further substantiating the desire of the
wholesale spot FX market to operate a new way of trading. The two banks join an
existing group of nine founder members - Barclays, BNP Paribas, Deutsche Bank,
Morgan Stanley, Royal Bank of Canada, SEB, Standard Chartered, State Street and
UBS - who believe that the platform will greatly benefit the market with an
offering that is focused on delivering equality and efficient execution for all
participants.
In addition, Tradition also announces that the platform will operate under the
recently formed company name 'ParFX' a wholly owned subsidiary within the
Tradition group.
Akira Hoshino, Global Head of FX Trading at The Bank of Tokyo Mitsubishi UFJ,
said: "We are pleased to partner with Tradition to provide a new highly
compliant FX spot trading market infrastructure. We look forward to trading on
the platform and expect it to become a leading player in the Spot FX market."
Jai Rajpal, Global Head of Foreign Exchange at Nomura, said: "Nomura is
committed to providing our FX clients with best execution, liquidity and
transparency. We are delighted to be part of the ParFX initiative, which will
help improve access and reduce trading costs for all market participants."
Daniel Marcus, Managing Director, Strategy and Business Development at
Tradition, commented: "We are greatly encouraged by the support being shown by
such a large number of significant participants in the spot FX market. The
diversity of the group illustrates the growing momentum of ParFX. We now have
more than 20 of the largest banks in the world testing the platform as well as
8 ISVs. We are very much looking forward to the imminent launch of ParFX".
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) and listed on the Swiss stock exchange. Tradition's
activities are overseen by global regulators including the FSA, SEC and
CFTC. For more information, please visit www.tradition.com. Tradition and
TraFXpure are trademarks of Compagnie Financière Tradition S.A.
Lausanne, 1st February 2013
Press Contacts:
MHP Communications european investors relations sa
John Sarsfield / James Morgan / Jérémy Nieckowski
Fern Hammond
Tél. : +44 20 3128 8530 / 8533 / 8092 Tél. : +41 22 591 22 65
Email : Tradition(at)mhpc.com jeremy(at)eir.ch
Press release_Compagnie Financiere Tradition:
http://hugin.info/133362/R/1674840/545465.pdf
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Source: Compagnie Financière Tradition via Thomson Reuters ONE
[HUG#1674840]
Unternehmensinformation / Kurzprofil:
Datum: 01.02.2013 - 07:30 Uhr
Sprache: Deutsch
News-ID 225294
Anzahl Zeichen: 4819
contact information:
Town:
Lausanne
Kategorie:
Business News
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