ParFX Joins FXecosystem’s Low Latency FX Community Meet-Me-Room™

FXecosystem’s Meet-Me-Room, a specialist community that connects players in the global FX markets, has reported that ParFX is the latest platform to join its hub. The move highlights the importance of connectivity between participants as firms look for low latency high-performance trade execution.

FXecosystem has established itself as a leading provider of low-cost, low latency solutions to FX participants. It has taken existing architecture used in the telecom sector and built a framework for FX trading. Meet-Me-Room (FX MMR™) provides a single point of contact to connect to Global FX Banks, ECNs, Vendors and buy-side institutions, eliminating the need for multiple leased lines. According to the firm’s website, it describes FX MMR™ as, “A single point-of-entry to secure low latency, physical cross connections, via a point-to-point network.”

James Banister, CEO FXecosystem, commented in the press briefing: “We are pleased to welcome ParFX to our global FX MMR™, which will allow easy access for our existing and growing client base of users to participate in this innovative new offering. ParFX will gain seamless connectivity with its banks and trading partners in LD5, London and NY4, New York, with Asia live in Q1, 2014.”

ParFX was launched earlier this year to compete with the leading inter-dealer FX portals, EBS and Reuters, to provide a fair, equal and transparent offering for firms. The platform’s unique matching mechanism applies a randomized pause to all order submissions, cancellations and confirmation, firming Liquidity by creating a level playing field.

Roger Rutherford, Chief Operating Officer, ParFX, commented in a statement: “One of the key tenets of ParFX – and one of the original principles of our founding banks – is the idea of equal, cost-effective access to a fair and transparent FX market for all participants. FXecosystem’s technical expertise and global reach, delivered efficiently and cost effectively, will help us to meet the FX market’s demand for change.

We have made excellent progress in on-boarding participants to the platform in recent months, and FXecosystem’s FX MMR™ service will help us to continue to build liquidity and facilitate a new trading mentality in the FX market.”

With firms connecting to various Liquidity Providers , a single point of entry reduces the cost and administration of multiple relationships.