EBS Direct launches precious metals trading
04 February 2014
Commitment from more than 40 customers and initial trades completed with Société Générale Corporate & Investment Banking
London, 4 February, 2014 – EBS, ICAP’s market-leading electronic FX business, announces that it has launched trading of precious metals on EBS Direct.
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. EBS Direct is now live with 12 liquidity providers and more than 400 customers have committed to using the service.
In addition to spot FX, customers can now trade gold, silver, platinum and palladium against the US dollar and the euro on EBS Direct. More than 40 customers have committed to trading precious metals. Société Générale Corporate & Investment Banking (SG CIB) has completed initial trades on the platform as a liquidity provider.
Hugh Whelan, Director of Liquidity Management at EBS Direct, said: “Trading precious metals is a natural extension of our FX offering and I am delighted that SG CIB conducted the first trades. We are responding to significant demand from our customers, who look to EBS Direct to deliver robust and reliable liquidity, to all market participants.”
Azeem Malik, Head of E-business Metals Markets at SG CIB, said: “We are proud to be the first providers of liquidity for precious metals on EBS Direct, further cementing our partnership with EBS. Our initial trades have gone well and we look forward to increasing the volume of trades with EBS.”
|Serra Balls || Communications UK ||+44 (0)20 7050 7124|
|Guy Taylor || Communications US ||+1 212 341 9759|
ICAP’s award-winning EBS business is at the heart of electronic spot FX trading and remains the core source of genuine, executable spot FX liquidity and independent benchmark pricing for professional trading counterparties in all market conditions. EBS’s platforms deliver reliable, efficient and effective access to spot FX, precious metals and NDF traders globally, in both established and emerging markets, offering optimal price discovery and execution, and support a wide range of FX trading strategies, as well as API and manual trading. For more information, go to www.ebs.com
ICAP is a leading markets operator and provider of post trade risk mitigation and information services. Group companies provide services that match buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through our post trade risk and information services we help our customers manage and mitigate risks in their portfolios. For more information, please go to www.icap.com.