EBS Launches EBS Direct, Relationship Based Liquidity Platform

0 Comments

ICAP Is having a busy day today after previously announcing news in its TriOptima unit. Following on the earlier release, the interdealer has announced the launch of EBS Direct. EBS Direct is a relationship based FX trading platform which will run alongside the ECN’s legacy anonymous network. Users of EBS Direct will be able to access pricing from participating firms that they have a personal connection with. In contrast of the legacy ECN, EBS Direct offers trading in 100,000 unit minimum sizes and 1/10th pip pricing increments.

The launch of EBS Direct occurs as ICAP has seen its FX trading market share decline against Thomson Reuters, FXall, and exchange traded FX products. The space is also expected to become increasingly more competitive as Bloomberg’s FXGO has added FX option trading on their platform to attract users, while rival interdealer Tradition is expecting to launch its TraFXpure product early next year. The new offering from EBS will allow them to compete with both anonymous and public networks. After making changes to its dealing rules and widening trading to ½ pip increments, ICAP has reported that users are seeing increased levels of market depth liquidity. However, the cost has been wider average spreads, which has made the ECN less appealing to buy side firms. The ability for traders to be able to integrate better pricing that they may have from banks that they have personal relationships with should be positive selling point for EBS in the future.

EBS to offer relationship-based, disclosed liquidity with the launch of EBS Direct, With more than 100 customers globally already signed up to the programme

London and New York, 27 November 2012 – EBS, ICAP’s market-leading electronic FX platform, announces the launch of a new service, EBS Direct, providing relationship-based disclosed liquidity, in addition to its traditional anonymous spot FX offering.

EBS Direct will be available alongside EBS’s flagship anonymous matching platform and will deliver increased trading opportunities by enabling liquidity providers to stream tailored prices direct to liquidity consumers.
EBS Direct has the following features:

• EBS Direct prices will be separate from the anonymous prices but integrated within the same screen so users can hit either a disclosed or anonymous price, as they wish
• Price granularity will be in one pip and tenth pip increments
• Minimum size and increments of 100K
• Available through the EBS Workstation, EBS Global Access (browser-based trading solution) and EBS Spot Ai (API-based trading)

EBS Direct leverages EBS’s unparalleled extensive and reliable network, robust infrastructure, unique global footprint and extensive trading floor presence, including thousands of workstations and API connections in over 50 countries. These features, in addition to EBS’s strong brand, reputation and surveillance capabilities, will provide the FX market with a trusted, cost-efficient solution that requires limited technical implementation.

By entering this market, EBS is delivering on its strategic vision to provide the FX industry with innovative and value-added liquidity enhancing tools and services across a range of FX products, focusing on reducing costs, improving trading efficiencies and ensuring a robust and fair market for all participants.
EBS has been working with leading liquidity providers, including: ANZ, Bank of Tokyo-Mitsubishi UFJ, Barclays, BNP Paribas, BofA Merrill Lynch, Citibank, Commerzbank, Credit Suisse, Goldman Sachs, HSBC, Jefferies, JP Morgan, Morgan Stanley, Nomura, Nordea, RBS, Société Générale, Standard Chartered and UBS

More than 100 customers have already signed up to the programme, which is due to launch in December 2012.
Jeff Ward has been appointed as the Global Head of EBS Direct. Jeff, an EBS veteran, is a member of the EBS Executive Management team and in his most recent role was running the EBS Global Sales team.

Jeff Ward, Global Head of EBS Direct, said:
“By leveraging EBS’s unique network, extensive desktop presence and our position as the market’s trusted partner, we are providing our customers with solutions that will enhance their trading experience. This is the first step in a number of long-term strategic initiatives to provide a complete suite of products and services that benefit both liquidity providers and liquidity consumers.”

Paul Scott, Global Head of eFX Trading at Commerzbank, said:
“We are delighted to see EBS launching into this segment of the market. It will allow Commerzbank greater market reach immediately thanks to EBS’s exceptional network and desktop presence. EBS Direct is an excellent solution for our clients and us, as well as for the FX market as a whole.”

Giovanni Pillitteri, Global Head of FXEM Electronic Trading at Morgan Stanley, said:
“We are excited to expand our long-standing connection with EBS through EBS Direct. EBS Direct will provide a valuable channel for liquidity-based relationship trading.”

Mark Johnson, Global Head of FX Cash Trading, HSBC, said:
“In entering this segment of the market EBS continues to demonstrate its commitment to improving the trading environment and providing an orderly and fair market for all participants.”

Joseph Ziccarelli, Managing Director and COO of Global Foreign Exchange at Jefferies Bache Financial Services, Inc., said:
“EBS is providing us with access to new and improved liquidity through a simple and cost-effective distribution channel. It requires limited technical involvement and yet provides access to new relationship-driven liquidity.”

Alan Clarke, Global FX Product Manager, BBVA, said:
“EBS Direct is a great initiative as it gives us easy access to more sources of liquidity via a leading trading platform that has a proven track record in delivering a resilient and robust network. As we are already connected to EBS, integrating EBS Direct into our systems will be simple and straightforward.”

Eddie Listorti, Global Head FX and Commodities, ANZ, said:
“EBS Direct gives us access to both disclosed and anonymous prices in one place and is a positive step in helping us to optimise our trading, which in turn will allow us to better service our customers.”

Brian Chan, Senior VP, Head of FX Trading at Chinatrust, said:
“The launch of EBS Direct is very timely in providing us with a cost-effective, all-in-one aggregation solution on our existing EBS infrastructure and the ability to trade on ‘direct’ liquidity or through the anonymous market on one platform.”

Gil Mandelzis, Chief Executive Officer, EBS, said:
“This is a very exciting development for EBS and the FX market. EBS is committed to working closely with our customers to provide them with unparalleled distribution across all types of liquidity, as well as exceptional value-add at low cost.

“Jeff Ward brings tremendous leadership, expertise and passion to the programme. We have been able to sign up more than 100 customers within a few weeks by leveraging our unique brand, global presence and exceptional team. EBS Direct opens up a wide range of new opportunities for innovation, value creation and growth for EBS’s existing customers, as well as new customer segments. I would like to thank our customers for their tremendous support as EBS expands its role and partnership with the market.”







TAGS: , , , , , ,
 

Related posts:

More information on this subject is found in the latest Forex Magnates Quarterly Report


Comments are closed.

We do not store your information and we do not disclose our sources.


Leave your name/email (not required) if you'd like to be contacted about this story (will not be disclosed):



Digital Currencies

Executive Moves

Startups & New products

antony

“Meet The Experts” Announces Its Newest Contributor And Bitcoin Specialist, Antony Lewis

Forex Magnates’ “Meet the Experts” platform is pleased to announce its newest contributing expert, Antony Lewis, head of Business Development at Bitcoin exchange itBit, specializing...

PPC/USD Technical Analysis – 17th April 2014

Peercoin is displaying a classic sine wave motion, as consolidation takes hold. The bulls and the bears are fighting for supremacy, and I can tell...

“Cointalks Dubai” – First Major Bitcoin Conference to be Held in Middle East

On Monday, 21st of April 2014, a seminar meet expo meet conference will take place in the United Arab Emiates, Dubai at the Impact Business...

More Digital Currencies

Lloyds’ Global Head Of Spot Forex, Darren Coote Resigns

Darren Coote, the Global Head of Spot Foreign Exchange at Lloyds Banking Group Plc. has resigned from his position for personal reasons, leaving a notable...

Max Hayden

BCS Appoints Ex-BofA Merrill Lynch MD Max Hayden as Head of Business Development

The latest person to head BCS Financial Group's new business development efforts brings a nearly 30 year career holding senior roles in financial services including...

tomgav

Pete Sinisgalli Appointed New CEO at Eze Software Group, Succeeding Tom Gavin

Eze Software Group, a global provider of investment technology across all asset-classes, has announced the appointment of Pete Sinisgalli as its new CEO, succeeding Tom...

More Executive Moves

New Product Spotlight

OANDA Launches Retail FX Tools Marketplace, Forex Magnates Reviews

OANDA opens a Marketplace featuring apps, training, and MT4 plugins developed by the broker and its partners to provide its clients with vetted tools and services. Forex Magnates reviewed the new offering.
Read more

BT Prime Extends Emerging Markets Push, Adds Thai Baht Liquidity

EM offerings are taking the stage this year, as after increased offerings of Chinese Yuan trading, we are now getting an announcement that one of the leading FX liquidity providers adds the Thai Baht.
Read more

More Startups & New Products

Forex Research

Recent Comments

Note: Copyright © 2014 Forex Magnates. All rights reserved.

All materials contained on this site are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of Forex Magnates. You may not alter or remove any trademark, copyright or other notice from copies of the content. All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you.Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at Forex Magnates are those of the individual authors and do not necessarily represent the opinion of Forex Magnates or its management. Forex Magnates has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur. Any opinions, news, research, analyses, prices or other information contained on this website, by Forex Magnates, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. Forex Magnates will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2014 "Forex Magnates Inc. - Home of the Forex Elite" All Rights Reserved.