MEMX Is a Cautionary Tale for Market Operators: Ignore Customers at Your Peril*†
The launch of new member-owned stock exchange MEMX is a concrete example of the collective power market participants can wield in the face of opaque pricing and a lack of transparency – and a cautionary tale to incumbents that refuse to listen to their customers.
MEMX Is a Cautionary Tale for Market Operators: Ignore Customers at Your Peril *
The launch of new member-owned stock exchange, MEMX, is a concrete example of the collective power market participants can wield in the face of opaque pricing and a lack of transparency – and a cautionary tale to incumbents that refuse to listen to their customers.
MEMX: a wake-up call for other markets – ParFX*†
According to Roger Rutherford, chief operating officer at spot FX platform ParFX, the newly formed Members Exchange (Memx) is a prime example that institutions which are disillusioned with existing services can take matters into their own hands.
FX turnover in UK slips from previous record high*†
“The report is an accurate reflection of the bouts of higher volatility in both major and emerging market currencies, with the 17% rise in Chinese yuan turnover testament to this,” says ParFX’s Rutherford.
The FX Global Code - An overview of progress to date – E-Forex*
We asked Roger Rutherford, COO of ParFX and a member of the ACI FX Committee who has been involved in the establishment of the Code from the outset, to tell us more about this initiative and to provide an update on the working groups the GFXC has created to focus on four priority areas: “cover and deal” trading activity, disclosures, buy-side outreach, and integration of the Code in the FX market.
London’s renminbi trading eclipses pound-euro*†
“The report is an accurate reflection of the bouts of higher volatility in both major and emerging market currencies, with the 17 per cent rise in Chinese yuan turnover testament to this,” said Roger Rutherford, chief operating officer at trading platform, ParFX.
Turnover Of Chinese Yuan Grows in London*
Roger Rutherford, chief operating officer of ParFX, said in an email: “It’s no surprise to see an overall fall in FX turnover reported by the FXJSC, but the variations across different instruments make for interesting reading.”
FX Volumes Dip from April 2018 Highs*†
Commenting on the survey, Roger Rutherford, COO of ParFX, says, “It’s no surprise to see an overall fall in FX turnover reported by the FXJSC, but the variations across different instruments make for interesting reading. For example, the rise in FX spot activity is at its highest since April 2015, with the survey revealing a significant year-on-year increase of 11%. This trend is also reflected in data released by the New York Federal Reserve.”
Financial market infrastructure services: ParFX*†
A well-functioning foreign exchange (forex) market is important to central banks in ensuring the effective transmission of monetary policy to the real economy and to support price stability. Guy Debelle, deputy governor of the Reserve Bank of Australia, referred to it as “one of the most vital parts of the financial plumbing” in his opening remarks at the FX Global Code of Conduct launch.
FX credit management: Keeping up with the bots*
Despite room for improvement, ParFX COO Roger Rutherford reckons FX credit and risk management processes have been transformed over the last decade and that adoption of electronic trading, growth of algorithms, proliferation of trading venues and greater number of counterparties have all had an impact on the way credit is allocated and managed.