ParFX, the wholesale electronic trading platform owned by interdealer broker Compagnie Financiere Tradition SA (SWX:CFT), today announces a set of additions to its trading instruments lineup.
The first addition is the Hungarian forint (HUF), with traders to be able to trade EUR/HUF on the platform. The introduction of EUR/HUF to ParFX happens a couple of months after the addition of the forint to the CLS settlement system.
ParFX also announced the introduction of several CLS-eligible currency pairs, with AUD/JPY, NZD/JPY, USD/SEK, USD/NOK and USD/DKK being launched alongside EUR/HUF.
Dan Marcus, CEO of ParFX, comments:
“The addition of the Hungarian forint and other currency pairs is in line with our aim to increase ParFX’s global reach – both in terms of the range of participants and currencies traded. The HUF in particular has been identified as a currency with considerable growth potential, and there is strong interest from customers to trade it in the fair and transparent environment offered by ParFX.”
Gary Harcombe, Senior Spot Emerging Markets Trader at UBS, comments:
“The Hungarian forint has met a number of important milestones in recent years, becoming one of the world’s top 25 most traded currencies, and more recently, gaining eligibility for CLS settlement. Its inclusion reduces the risk and funding required to trade the forint and lays the foundations for further growth. There is strong appetite amongst foreign exchange investors to trade the HUF. ParFX has a number of features that differentiate its offering and we believe it offers an ideal environment for execution and stable liquidity, particularly for a fast-growing international currency.”
You can view the full announcement from ParFX by clicking here.