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EBS, ICAP’s market-leading electronic FX business, announces that EBS Direct has launched its commercial service. Following a period of beta testing the service is now fully operational and available to all customers. Both liquidity providers and consumers contributed invaluable feedback during the beta programme and traded in a live environment during this testing phase.
EBS Direct has now signed up more than 325 customers and is seeing a steady growth in volumes.
EBS Direct aims to be as simple and cost effective as possible, with prices viewable on the same screen as EBS Market so that existing EBS Market users do not require any new hardware and have no additional set-up costs.
EBS Direct provides relationship-based disclosed liquidity alongside EBS Market, the company’s flagship anonymous matching platform for spot FX. Liquidity providers are able to stream tighter, tailored prices direct to liquidity consumers and offer greater inventory via a flexible, scalable and cost effective solution that integrates easily with existing trading systems.
Key features
- The platform delivers an aggregated price, displaying the best bid/offer and book of all selected liquidity providers for any given liquidity consumer, essentially serving as an aggregation solution for those who trade on the EBS platform.
- It has a number of features that make trading more efficient. For example, ‘One-click trading’ on the Best Dealable Bid/Offer prices enables faster execution.
- Depth of Book and Amount views show the inventory available in the order book, and the screen also displays Trader Deals, Deal Log and Net Position.
- CLS eligibility exists for all EBS Direct pairs that are enabled for CLS on EBS Market.
- All EBS Direct customers have access to 24-hour multilingual support.
Jeff Ward, Global Head of EBS Direct, said: "With the launch of EBS Direct we’re leveraging the EBS network and infrastructure, which has proven to be robust and resilient over time in all market conditions. We have every confidence that EBS Direct will add real value to the market by delivering additional liquidity and trading opportunities for customers to ensure we continue to deliver a differentiated offering that meets the market’s evolving needs."
Gil Mandelzis, CEO of EBS, said: "I am thrilled that throughout this whole launch process for EBS Direct the support and feedback from our customers has been overwhelmingly positive. EBS Direct has all the elements of a fair, orderly and transparent market for all platform participants and offers genuine, executable liquidity. It is built on the trusted relationships that everyone who has dealt with EBS has come to expect."
