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Screenshot of a breaking news alert e-mail from Q2 2017
First major (planned) competitor to FXall, EBS, Hotspot FX et al to actually launch.
France’s Tradition S.A. today announced the formal launch of ParFX, its new spot FX ECN. The launch follows a period of testing with many global banks and independent software vendors. The platform is now open to all banks able to settle via CLS.
We recently reported that two leading Japanese banking groups, Mitsubishi UFJ and Nomura, are joining nine other banks (Barclays, BNP Paribas, Deutsche Bank, Morgan Stanley, Royal Bank of Canada, SEB, Standard Chartered, State Street and UBS) in backing ParFX. Note that Tradition had previously named the venture TraFXpure.