27 April 2015

Citi and JPMorgan join ParFX as founder banks

13 February 2014  |  4139 views  |  0 Stock exchange close up numbers 1

ParFX, the spot forex electronic trading platform set up by Tradition last year, has added Citi and JP Morgan to its founder bank community.

Launched last April, the ParFX platform is designed to combat the advantage of high-frequency trading, using a matching mechanism which applies a randomised pause to order elements.

The addition of Citi and JP Morgan takes the total number of founder banks to 14, including Barclays, Deutsche Bank, Morgan Stanley, and UBS.

Tradition is now preparing to open the platform up to the wider FX trading community, bringing in hedge funds to increase liquidity.

Richard Bibbey, global head, electronic FX trading, Citi, says: "Citi believes a competitive marketplace, offering an array of products and services is in the best interest of our clients and the industry.

"The ParFX platform is designed to offer efficient, reliable execution for participants and we are excited to be joining as a founder."

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

18 April, 2013

Related company news

 

Related company information

JPMorgan Chase

Top topics

Most viewed Most shared
Banks on the brink as customer experience...
8621 views comments | 46 tweets | 38 linkedin
Finextra Future Money Day 1 - Live blog
5682 views comments | 7 tweets | 5 linkedin
Future Money roundup: Big banks have their...
4826 views comments | 17 tweets | 9 linkedin
SunGard explores possible sale - Reuters
4314 views comments | 14 tweets | 8 linkedin
Commerzbank venture fund invests in eToro
4216 views comments | 10 tweets | 4 linkedin

Featured job

up to £100K base, commission, benefits
London, UK

Find your next job