ParFX, the wholesale electronic trading platform, has been named ‘Best Trading Platform’ at the inaugural FinTech Breakthrough Awards.
The FinTech Breakthrough Awards honour excellence in products, people, services, technologies and companies focused on financial technology. The ‘Best Trading Platform’ category recognises ParFX’s success in creating an efficient and future-proofed model for spot FX.
James Jonson, Managing Director, FinTech Breakthrough, comments: “ParFX’s technological innovation – namely its unique randomised matching engine – has introduced a completely new trading model.”
Roger Rutherford, COO of ParFX comments: “The impact of ParFX on the wider FX industry is best demonstrated by its broad support from both banks and non-banks, as well as the imitation of its technology by others.
“True randomisation has proven itself to be a legitimate and meaningful solution to disruptive low-latency trading strategies. This award provides further validation of our approach, and we are delighted to have won it.”
ParFX is designed to bring renewed transparency and equality to global spot FX. The platform’s proprietary technology and unique features include a matching engine which applies a meaningful randomised pause to all order submissions, amendments and cancellations.
This, combined with a range of other innovativefeatures such as the distribution of market data in parallel to all participants and post-trade transparency for prime clients, helps combat disruptive trading behaviour before it occurs, creating a market of genuinetrading interest, reliable price discovery and firm liquidity. On ParFX, all participants – regardless of size, technological sophistication, financial clout or volumes traded – are treated equally and abide by the same rules.
Developed for the market, by the market, ParFX is a wholesale electronic trading platform designed to bring renewed transparency and equality to global spot FX. The platform’s unique matching mechanism applies a meaningful 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:
- 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
- Full post-trade transparency – Executing Broker, Prime Broker and Prime Client name give-up post-trade.
ParFX is open to all professional institutions able to settle via CLS, and provides those participants with a low-cost, convenient and equitable venue for sourcing FX liquidity.
ParFX has been designed by Tradition, an award-winning interdealer broker and one of the world’s largest in over-the-counter financial and commodity-related products, in conjunction with a group of the world’s leading FX banks. For more information, please visit www.parfx.com.