ParFX Registers 20% Rise in Net Profit for 2022

ParFX, a wholesale electronic spot FX trading operator developed by Compagnie Financière Tradition, disclosed that it experienced a surge in operating and net profits in spite of a slight decline in turnover for the year of 2022.

Compagnie Financière Tradition (CFT) is one of the world's largest interdealer brokers in over-the-counter financial and commodity related products.

Specifically, ParFX produced $5.58 million turnover in 2022, compared to $5.84 million in 2021. Whereas, the firm managed to rein in administrative costs, contributing to 17 percent increase in an operating profit to $2.13 million.

The annual net profit stood at $1.72 million, an increase of 20 percent from the prior year's $1.47 million.

"The company continues to attract new prime clients and strengthen the platform's global distribution network. In addition, founder members have agreed to extend the minimum brokerage fee for another twelve months, stabilizing further the revenue run rate," the company commented in the official filing.

In February this year, Fazzaco reported that CFT's consolidated revenue​ in 2022 was at CHF 947.4 million, rising 10.5 percent in constant currencies compared with CHF 873.6m in 2021.

Looking ahead, ParFX is intended to further grow its global distribution network. In addition, the firm seeks to expand its FX electronic trading community as part of the CFT brand.