ICAP’s EBS to offer outright forwards

0 Comments

ICAP the worlds largest inter dealer broker is expanding its FX product range on the popular EBS interbank trading platform. EBS is a leading cross asset FX trading platform covering major currencies including EUR USD.

EBS currently offers spot and NDF’s and is looking to diversify its offering away from the tradiional bid/offer mathcing service.

David Rutter, London-based chief executive of Icap’s electronic broking division, says the firm plans to make further announcements in the middle of 2012 about the launch of the new service, which will focus on short tenors of below one month. Rutter did not give details about which currency pairs the outright forwards would be offered on.

He says the launch is a result of increasing fragmentation in the foreign exchange market, a phenomenon that has led Icap to increase investment in EBS’s global infrastructure to provide additional services to its banking clients. The investment is significant: according to Icap’s 2011 annual report the group spent 12% of its revenue on technology, equal to about £200 million ($316 million).

According to Rutter, Icap may expand its offering further: “We are developing EBS so that it would not only just function as a pure forex exchange, but in addition offer streaming forex rates to specific clients of the banks… We want to offer additional services to banks so that they could pick and choose clients within our EBS framework,” he says.
In additon to EBS, ICAP operates UK based spread betting firm – City Index.

Forexmagnates team covered institutional trade volumes in the latest quarterly report – Q4 2011.







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

Expert Articles

Fintech, Startups & New Products

Bitcoin Picks: OpenBazaar To Launch Beta, Banco Santander to Devise Bitcoin Strategy

With Bitcoin prices stabilizing around $500 in the final week of August, news about the digital currency this week include Santander devising a Bitcoin Strategy...

Getting approved as a nonprofit will pay dividends for your Bitcoin cause- and for Bitcoin

The ease of sending bitcoins, in any amount, all over the globe, has made it a popular medium for charitable and other causes. Hundreds of...

Non-Government Backed Financial Commission Launches Crypto Regulation  

Aiming to provide financial and compliance oversight to the world of cryptocurrencies, the Financial Commission has announced a new ‘Crypto’ division. What is the Financial...

More Digital Currencies

Juan Colon, Darwinex

Advantages And Disadvantages Of Copy Trading

Traders can collaborate with peers with the same interests, exchanging mutually beneficial trading related information. One such approach is fx copy trading, whereby “Leaders” publish...

Coffee cup and coffee beans on old wooden background

Coffee Futures: Break or a Fake?

Coffee futures can be one of the more volatile commodities around, especially during different seasons where drought concerns or frost concerns in Brazil can really...

Bart Burggraaf

Are Analytics Sites Like Alexa A Viable Measure For Web Traffic?

There are quite a few services like Alexa, including Compete, Nielsen Online, Comscore, SimilarWeb and various google tools – all are useful in some way...

More Expert Articles

FxPro Launches New In-House Developed Web Trader for MT4 Customers

Expanding its list of in-house developed technologies, FxPro has launched a new webtrader to clients. The trading platform replaces their previous version which was licensed from a 3rd party provider.
Read more

AlipayTaobaoAlibaba logo

Chinese Internet Giant Alibaba Is Set for Biggest IPO in Tech History

Towards the $200 billion Wall Street IPO in September, Forex Magnates profiles the empire behind the Chinese versions of Amazon, Ebay and PayPal. Will Alibaba be disrupting finance next as it eyes westward expansion?
Read more

More Fintech, 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.