ParFX Reports Rising Revenue for 2017, Profits Spike
- The spot FX electronic trading platform provider has increased its revenues by six percent last year
One of the most dynamic spot FX Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term providers in the industry, ParFX has filed its annual results with the UK Companies House. The firm is reporting that its clients base has continued growing throughout 2017.
The total turnover of the subsidiary of Tradition, ParFX, increased by six percent when compared to 2016. The figure stood at £7.5 million ($9.5 million) for last year.
The costs of the company rose just around 1 percent, to £6.85 million ($9 million). Consequently, ParFX doubled its profits in 2017. According to the filing, the firm managed to book an after-tax profit of £680,000 ($892,000).
Commenting to Finance Magnates on the company’s results, the CEO of ParFX, Dan Marcus, said: “ParFX is one of the fastest growing platforms in spot FX and continues to receive support from a broad section of the industry.”
“We are satisfied with our ability to attract a diverse range of participants and trading strategies that promote good trading behaviour. Our vision and model set out at launch remains future-proofed and aligns strongly with the FX Global Code,” Marcus elaborated.
New Prime Clients and Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term Risks
According to the company’s filing, ParFX is continuing to attract new prime clients. The firm also secured a new Founding member all the way back in March 2017.
The main risk to the continuing growth of the company singled out by management is the outcome of the Brexit negotiations. The “significant uncertainty” which has spread across the financial sector is pressuring businesses.
The UK board of the parent company of ParFX, interdealer brokerage Tradition, has formed a Brexit Committee. The body is tasked with debating the issues arising from the negotiations. The committee's goal is to provide insights to the management team of the company.
Brexit has been a core issue for the UK financial industry ever since the vote in 2016. While on the surface businesses are well expecting some amount of turbulence, the lack of clarity about Brexit is now affecting confidence materially.
One of the most dynamic spot FX Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term providers in the industry, ParFX has filed its annual results with the UK Companies House. The firm is reporting that its clients base has continued growing throughout 2017.
The total turnover of the subsidiary of Tradition, ParFX, increased by six percent when compared to 2016. The figure stood at £7.5 million ($9.5 million) for last year.
The costs of the company rose just around 1 percent, to £6.85 million ($9 million). Consequently, ParFX doubled its profits in 2017. According to the filing, the firm managed to book an after-tax profit of £680,000 ($892,000).
Commenting to Finance Magnates on the company’s results, the CEO of ParFX, Dan Marcus, said: “ParFX is one of the fastest growing platforms in spot FX and continues to receive support from a broad section of the industry.”
“We are satisfied with our ability to attract a diverse range of participants and trading strategies that promote good trading behaviour. Our vision and model set out at launch remains future-proofed and aligns strongly with the FX Global Code,” Marcus elaborated.
New Prime Clients and Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term Risks
According to the company’s filing, ParFX is continuing to attract new prime clients. The firm also secured a new Founding member all the way back in March 2017.
The main risk to the continuing growth of the company singled out by management is the outcome of the Brexit negotiations. The “significant uncertainty” which has spread across the financial sector is pressuring businesses.
The UK board of the parent company of ParFX, interdealer brokerage Tradition, has formed a Brexit Committee. The body is tasked with debating the issues arising from the negotiations. The committee's goal is to provide insights to the management team of the company.
Brexit has been a core issue for the UK financial industry ever since the vote in 2016. While on the surface businesses are well expecting some amount of turbulence, the lack of clarity about Brexit is now affecting confidence materially.