Exclusive FNG… FNG has learned through regulatory filings that ParFX, the wholesale electronic spot FX space owned by Compagnie Financière Tradition, posted a 13% drop in revenue and almost a halving in profitability in 2024, the company’s second consecutive annual decline in both the top and bottom lines.
After falling 14% in 2023, ParFX’s revenue was $4.1 million in 2024, down 13% from $4.7 million in 2023 (and $5.6 million in 2022), which the company said was mainly due to a shrinking customer base. This also includes providing electronic data to third parties (data sales) of $124,000 (2023: $130,000). Net earnings of $536,000 were down 43% from $934,000 in 2023 (and $1.7 million in 2022).
ParFX’s main business is to provide an electronic wholesale trading platform for spot FX products, supporting multiple currency pairs on a 24-hour basis. ParFX is led from London and New York by COO Roger Rutherford, COO Alex Lewis and Head of Business Development Rob Parr.
ParFX’s income statement and balance sheet for 2024 follow below.
