EBS introduces EBS Select: an anonymous, segmented, bilateral liquidity pool
17 November 2014
New product represents a third liquidity pool in parallel toEBS Market and EBS Direct
London, New York, 17 November 2014 – EBS, ICAP’s market-leading electronic FX business, announces today that it will be launching EBS Select, an anonymous, segmented, bilateral liquidity pool which will further enhance EBS's multi-product offering.
EBS Select will facilitate trading in a non-disclosed environment and deliver prices in a segregated liquidity pool. EBS Select will be of value to all customers seeking to use the credit and services of an EBS Prime Bank. Customers of EBS Select will trade using a unique trade identifier and will be able to access the benefits of a bilateral relationship to achieve best execution while retaining anonymity.
Leveraging EBS’s extensive global network, established prime business and the robust, scalable and flexible technology and infrastructure of EBS Direct, EBS Select will meet the growing demand to trade anonymously while retaining the advantages of trading through segmented, permissioned liquidity.
EBS Select further enhances EBS’s multi-product offering which currently includes EBS Market, its flagship anonymous central limit order book, and EBS Direct, its disclosed bilateral trading platform successfully introduced a year ago. EBS Select will be available to customers over their existing EBS network and current access methods including the EBS Workstation, EBS Global Access and API infrastructure on EBS Ai, thus requiring no integration effort at all from existing EBS customers.
EBS Select will launch in early 2015. Over 30 Liquidity Consumers and a number of Liquidity Providers have already agreed to participate in its Beta roll out.
Gil Mandelzis, CEO of EBS said: “EBS is committed to developing innovative products for the FX community and leading the markets with high-value, low-cost solutions. Our existing and growing customer base require more ways to trade to remain competitive in their business. Customers globally are very excited by our growing multi-product offering - a mission to which we are firmly committed. EBS Select further demonstrates our drive to provide our customers with a full range of modular tools and services, delivering what is a truly compelling offering in the global trading arena.”
Andrew Cheesman, an industry veteran who joined EBS last April from RBS, is leading the delivery of EBS Select along with the management of EBS’s existing prime business.
Jeff Ward, Head of EBS Direct said: “EBS Select will provide customers with access to a bilateral environment on which they can trade with optimum liquidity and prices available, thanks to the unique infrastructure and eco-system of the EBS network. There has been great demand for EBS Select following the successful launch of EBS Direct a year ago. We are thrilled by the reception EBS Select has received so far and pleased to be able to extend our range of services to meet extensive and growing demand.”
|Bryony Scragg ||Communications UK ||+44 (0) 20 7050 7124 |
|Guy Taylor ||Communications US ||+1 212 341 9759 |
|Michelle Gathercole ||Argentus PR ||+44 (0) 20 7397 2949 |
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. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through its post trade risk mitigation and information services ICAP helps customers manage and mitigate risks in their portfolios. For more information, go to www.icap.com.