New ParFX global foreign exchange platform gains access to Equinix’s financial ecosystem
REDWOOD CITY, Calif. and LONDON – August 13, 2013 – Equinix, Inc. (NASDAQ:EQIX, news, filings), the global interconnection and data center company, today announced that ParFX, the new Tradition-owned wholesale electronic spot FX trading platform, has launched from Equinix’s London Slough International Business Exchange™ (IBX®) data center campus.
Designed to bring renewed transparency, efficiency and equality to the global spot FX market, ParFX is open to all professional institutions able to settle via Continuous Linked Settlement (CLS) and provides Equinix’s customers in the London Slough data center campus with easy access to FX liquidity.
Highlights / Key Facts
- The ParFX trading platform provides market participants with a low-cost, easy-to-access, transparent and equitable venue for sourcing FX liquidity. The platform’s unique matching mechanism applies a randomized pause to all order elements, creating a level playing field for participants, regardless of location, technological sophistication or financial strength.
- ParFX selected Equinix because of its market leadership position, broad range of trading customers and unrivalled global reach. The London Slough campus provides access to over 50 network providers and more than 170 trading participants, reducing time-to-market, and lowering barriers to entry while providing high levels of resilience.
- In choosing Equinix, ParFX positions its platform directly alongside many other leading trading venues and connects with hundreds of FX institutional traders, trading platforms and ECNs globally to enable ‘follow the sun’ FX trading.
- Through Equinix’s global IBX footprint, an ecosystem of nearly 800 global financial services institutions will be able to connect to ParFX.
Quotes
- Roger Rutherford, chief operating officer, ParFX:
“The ParFX founder banks came to us because they believed there was a need for change in the FX market ecology and for the creation of a truly level playing field. That need is at the heart of the ParFX philosophy. Equinix’s London Slough data center campus offers world-class support with global reach, congregating players and service providers across FX, providing the opportunity to adapt and scale our business according to market need.” - Dick Theunissen, chief marketing officer, EMEA at Equinix:
“ParFX is a valuable addition to the Equinix financial ecosystem, extending the range of venues we host across Asset classes. Its pioneering low cost and transparent trading services will provide FX market participants located on Platform Equinix with a popular and equitable venue for sourcing FX liquidity.”
Additional Resources
About Tradition/ParFX
Tradition is one of the world’s largest interdealer brokers in over-the-counter financial and commodity-related products. Represented in 28 countries, Tradition employs 2,400 people globally. Tradition is the trading name of Compagnie Financière Tradition (CFT), which is listed on the Swiss stock exchange. Tradition’s activities are overseen by global regulators including the FCA, SEC and CFTC. For more information, please visit www.tradition.com. Tradition and ParFX are registered trademarks of Compagnie Financière Tradition S.A. www.ParFX.com
About Equinix
Equinix, Inc. (NASDAQ: EQIX), connects more than 4,000 companies directly to their customers and partners inside the world’s most networked data centers. Today, businesses leverage the Equinix interconnection platform in 31 strategic markets across the Americas, EMEA and Asia-Pacific. www.equinix.com.
Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, the challenges of acquiring, operating and constructing IBX centers and developing, deploying and delivering Equinix services; unanticipated costs or difficulties relating to the integration of companies we have acquired or will acquire into Equinix; a failure to receive significant revenue from customers in recently built out or acquired data centers; failure to complete any financing arrangements contemplated from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; and other risks described from time to time in Equinix’s filings with the Securities and Exchange Commission. In particular, see Equinix’s recent quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.
Equinix and IBX are registered trademarks of Equinix, Inc.
International Business Exchange is a trademark of Equinix, Inc.
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