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EBS, a leading provider of electronic trading platforms and technology services in foreign exchange markets, today announced it is launching a next-generation EBS Direct platform with enhanced capacity and speed, which will deliver round trip processing times below 50 microseconds.
The new platform, which is now live in beta-testing with clients, will feature faster market data and will provide greater certainty of execution and improved fill ratios. EBS will transition clients to the new EBS Direct platform in four phases over the next 18 months, adding new functionality and reducing latency at each stage. The rollout is expected to be completed by the first half of 2021, after which time the current EBS Direct architecture will be decommissioned.
"We continue to invest in our technology to create a best-in-class platform and demonstrate our commitment to improving market transparency and liquidity for clients," said Jeff Ward, Global Head of EBS. "The re-architecture of EBS Direct will significantly improve latency and allows us to support more products and a wider suite of order types and execution logics to provide clients with a more deterministic trading environment."
EBS launched EBS Direct, the relationship-based quote driven market, in 2013. EBS Direct supports both disclosed and non-disclosed trading via a GUI and API.
EBS is a part of CME Group. As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. With a range of pre- and post-trade products and services underpinning the entire lifecycle of a trade, CME Group also offers optimization and reconciliation services through TriOptima, and trade processing services through Traiana.
