• inside_market_data
  • inside_reference_data
  • buy_side_technology
  • sell_side_technology
Tradition is a subsidiary of Compagnie Financière Tradition.

TraFXpure Renames, Adds Mitsubishi and Nomura Before Launch

  • Send
  • Comment
  • Send to Kindle

TraFXpure, the bank-backed foreign exchange (FX) platform being developed by interdealer broker Tradition, has added Nomura Securities and Mitsubishi UFJ to its supporters, and will rename as ParFX ahead of its 'imminent' launch.

ParFX will exist as a wholly-owned subsidiary of Tradition. The platform, backed by names such as Barclays, Morgan Stanley, State Street and UBS among others, was developed in response to increasing frustration at the effect of high-frequency trading (HFT) in FX's interbank market. Tradition was selected to develop the platform in 2011.

"The idea behind it is to remove any technological advantage, and create, at a pure trading level, a totally level playing field," said Dan Marcus, managing director of strategy and business development at Tradition, while talking to Waters for a related article last year. "So whoever you are, however many connections you have, wherever you're located and whatever technology you have, by the time you can actually trade on the platform, you have as much chance as anybody else. It doesn't remove the capability of your algorithm; that still applies in terms of hedging capabilities and other areas, but it does remove speed."

No further details are currently available on the launch of the platform, which was originally scheduled for January 2013.

"Nomura is committed to providing our FX clients with best execution, liquidity and transparency," says Jai Rajpal, global head of foreign exchange at Nomura. "We are delighted to be part of the ParFX initiative, which will help improve access and reduce trading costs for all market participants."

  • Send
  • Comment
  • Send to Kindle

More from Sell Side Technology

Sign-up for WatersTechnology email newsletters

Register for regular alerts to receive up-to-date news directly into your inbox

Related Articles

Latest Media


Visitor comments Add your comment


Add your comment

We won't publish your address

By submitting a comment you agree to abide by our Terms & Conditions Your comment will be moderated before publication

Submit your comment

Winner's Announced: Sell-Side Technology Awards 2014

View the winners...

The winners of the 2nd annual Sell-Side Technology Awards 2014 were announced in New York on April 15. These awards recognize the leading technologies and third-party vendors in their area of expertise, through an auditable and transparent methodology. To view the winners across the 24 categories click here.



event logo

Market Data & Trading Technology

27 Apr 2015


Latest Whitepapers


Tackling Teething Troubles: Examining the Current State of the OTC Derivatives Market

The over-the-counter (OTC) derivatives market is in the midst of a global regulatory restructure. Authorities in Europe, Asia and the US are currently...


A data-centric approach to portfolio management

A fast, flexible and reliable investment decision-making process must be based on access to accurate and consistent information throughout an organization....