UK light heavyweight Joshua Buatsi secured a victory yet disappointing debut to life under fresh promotional backing with a unanimous decision over Parker in the Manchester arena.
The Olympic medal winner's activity level appeared to earn him a split decision in a close ten-round contest at the Manchester venue.
But the challenger had his moments, delivering effective clean blows in a contest where the approaches failed to mesh, with excessive holding disrupting the action.
Two judges judged it 96-94 for to the winner, with the final judge a 95-95 draw.
"It wasn't my best performance but how do champions respond? They win," Buatsi commented in the arena as he was faced disapproval from the crowd.
The Londoner bounced back after his first professional defeat - an thrilling contest with his previous opponent in last winter - to earn a twentieth professional win.
Various analysts felt the challenger, thirty-one, should have been awarded the victory but the British boxer experienced the second loss of his 28-fight professional journey.
Buatsi Claims Triumph in Dull Affair
His career development has stalled in the past few years through promotional disputes and extended periods of lack of fights.
Previously predicted as the future of British boxing, he now is positioned trying to fulfil that early promise - possibly in what seems like a last chance - under fresh management.
He began cautiously, with both competitors willing to take risks in a calculated initial rounds.
Parker, whose single earlier setback came at the lower weight class against John Ryder in two years ago after damaging his hand in the contest, was participating in his second appearance at light-heavyweight.
By the middle rounds, Parker had kept it close, making life awkward for the favorite, who utilized a tight guard to narrowly win the more effective periods.
The audience's tolerance wore thin amid constant clinching, with the challenger falling to the floor multiple occasions during grappling.
Parker closed well, but several stanzas were difficult to score. However, former world champion Carl Frampton - working with the broadcast network - had it particularly wide for Parker, scoring for Buatsi just only one stanza.
Buatsi progresses, but with the presence of heavy hitter Benavidez, and Eastern European fighter Bivol leading the category, the journey to titles - based on this performance - still looks steep.
Hatton Tribute Motivates Manchester Derby Fight
In the supporting bout, Arthur defeated Rea by split-decision in a outstanding all-Manchester contest to win the continental championship.
The arena became quiet for a profoundly moving tribute prior to the bout as ten bells tolled in memory of local hero Hatton, who passed away aged 46 in last month.
It was the initial significant broadcast fight night in the urban center since the passing of Hatton. As the final chime disappeared, the stillness transitioned to a shout of "there's just one Hatton".
The action inside the ropes equaled the feeling. The eventual winner was knocked down by a left hook squarely on the jaw in the initial stage, standing uncertainly to his footing on the referee's count.
But the Manchester United-red shorts of the fighter soon advanced again. On the opposite side, Rea - in rival City blue - was damaged quickly, heavy swelling developing under his orbital area as the pair landed hard punches.
Rea, 27, delivered effective strikes but Arthur, 34, responded in kind with stinging uppercuts as the pace seldom decreased over 12 rounds.
Arthur narrowly won the decision with official scores of 114-114, narrow lead and wider gap, but the two athletes were relentless and full of heart, all the qualities their hero the legend embodied.
