On the Record: Bringing Parity to FX Data in an Age of High-Frequency Trading

IMD's Faye Kilburn quizzes Dan Marcus, CEO of interdealer broker Tradition's ParFX foreign exchange trading platform on its approach to market data.


IMD: ParFX was launched in response to concerns of major banks regarding the arrival of high-frequency traders on their existing platforms. What unfair advantage do HFTs have by being able to buy faster access to data?

Dan Marcus, CEO, ParFX: While technology has certainly enhanced the FX market─fostering innovation, wider participation, deeper liquidity and lower trading costs─it has also, regrettably, been misused for nefarious purposes. By this, I mean it has enabled disruptive trading behav