TraFXpure Becomes ParFX In Readiness For Launch As Two Further Banks Sign Up
Friday,01/02/2013|08:56GMTby
Andrew Saks McLeod
International broker-dealer Tradition has confirmed that two further banks have committed to the support of the TraFXpure spot forex Trading Platform, following their founder testing and addition of a series of initial banks as reported by Forex Magnates in October 2012 during their founder testing period in readiness for what is now an imminent launch.
Tradition's presence in this market segment is not inconsiderable. They are represented in 28 countries internationally, and employ 2,400 members of staff. Holdings group Compagnie Financiere Tradition (CFT) is listed on the Swiss stock exchange, with regulatory bodies overseeing their activities on the global market including the FSA, SEC and the CFTC.
During the first six months of 2012, trading conditions were difficult across the market, and this affected most of the industry as a whole. However Tradition's consolidated net corporate profits increased by very slightly as reported here. This took into account the 3.7% drop by Giatame, Tradition's Japanese operation, caused by tax reforms and leverage restrictions in Japan. The launch of ParFX will be an interesting product to follow in terms of Tradition's corporate performance over the coming year.
The latest financial institutions to join the list of founders are The Bank of Tokyo Mitsubishi UFJ and Nomura Securities, further substantiating the desire of the wholesale spot FX market to operate a new way of trading.
Further final preparations before launch include the renaming of the platform to a recently formed company name ParFX, which is a wholly owned subsidiary within the Tradition Group.
Speaking on behalf of The Bank of Tokyo Mitsubishi UFJ, Akira Hoshino, Global Head of FX Trading said: "We are pleased to partner with Tradition to provide a new highly compliant spot forex 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".
International broker-dealer Tradition has confirmed that two further banks have committed to the support of the TraFXpure spot forex Trading Platform, following their founder testing and addition of a series of initial banks as reported by Forex Magnates in October 2012 during their founder testing period in readiness for what is now an imminent launch.
Tradition's presence in this market segment is not inconsiderable. They are represented in 28 countries internationally, and employ 2,400 members of staff. Holdings group Compagnie Financiere Tradition (CFT) is listed on the Swiss stock exchange, with regulatory bodies overseeing their activities on the global market including the FSA, SEC and the CFTC.
During the first six months of 2012, trading conditions were difficult across the market, and this affected most of the industry as a whole. However Tradition's consolidated net corporate profits increased by very slightly as reported here. This took into account the 3.7% drop by Giatame, Tradition's Japanese operation, caused by tax reforms and leverage restrictions in Japan. The launch of ParFX will be an interesting product to follow in terms of Tradition's corporate performance over the coming year.
The latest financial institutions to join the list of founders are The Bank of Tokyo Mitsubishi UFJ and Nomura Securities, further substantiating the desire of the wholesale spot FX market to operate a new way of trading.
Further final preparations before launch include the renaming of the platform to a recently formed company name ParFX, which is a wholly owned subsidiary within the Tradition Group.
Speaking on behalf of The Bank of Tokyo Mitsubishi UFJ, Akira Hoshino, Global Head of FX Trading said: "We are pleased to partner with Tradition to provide a new highly compliant spot forex 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".
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Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
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We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
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Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
