FNG Exclusive… FNG has learned via regulatory filings that ParFX, the wholesale electronic spot FX institutional trading venue owned by Compagnie Financière Tradition, saw a 14% decline in Revenues and an even larger drop in profitability in 2023.
Revenues at ParFX came in at USD $4.8 million in 2023, down by 14% from $5.6 million in 2022, which the Company said was mainly due to a decrease in customer base. This also includes the provision of electronic data to third parties (data sales) of $130K (2022: $118K). Net Profit of $934K was off by 46% versus $1.7 million the previous year.
The principal activity of the Company is the provision of a wholesale electronic trading platform for spot FX products, supporting multiple currency pairs on a 24-hour basis. ParFX is run from both London and New York by COO Roger Rutherford, Director of Operations Alex Lewis, and Head of Business Development Rob Parr.
ParFX’s 2023 income statement and balance sheet follow below.
