ParFX takes first step for moving into NDFs
Trading platform snapped up MIC code as it ponders whether the growing market segment needs a ParFX model
ParFX is exploring an expansion into non-deliverable forwards, eyeing the opportunity to bring the principles behind its wholesale electronic spot foreign exchange platform to a growing segment of the market.
It has already applied for a market identifier code, or MIC, for a venue that will trade NDFs and derivatives products, according to information gleaned from the International Organization for Standardization. The ISO issues MICs to identify exchanges and trading platforms to allow the
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