EBS Goes Live with Next Generation EBS Direct Platform
EBS has launched its next-generation EBS Direct platform, enhancing electronic trading in the foreign exchange market. This platform boasts processing times of under 50 microseconds, which is ten times faster than its predecessor, thus improving price discovery and fill ratios. With operational efficiencies for both liquidity consumers and providers, the platform aims to revolutionize OTC FX trading. The onboarding of API customers is underway, with manual users to be migrated throughout H2 2021. EBS Direct supports disclosed and non-disclosed trading, enhancing technological capabilities for clients.
- EBS Direct platform processing times are now below 50 microseconds, improving trading efficiency.
- The platform is 10x faster than the previous version, enhancing user experience.
- Operational efficiencies created for both Liquidity Consumers and Providers.
- Onboarding API customers is progressing, indicating positive adoption of the platform.
- None.
LONDON and CHICAGO, July 12, 2021 /PRNewswire/ -- EBS, a leading provider of electronic trading platforms and technology services in foreign exchange markets, has launched its next-generation EBS Direct platform.
Customers trading on EBS Direct will benefit from enhanced processing times – below 50 microseconds – and faster market data on the new platform. This will enhance price discovery, provide greater certainty of execution and significantly improve fill ratios for market participants, while the creation of a more deterministic trading environment will create operational, execution and total cost efficiencies, improving overall trading performance for both Liquidity Consumers and Liquidity Providers.
"Providing our customers with unparalleled OTC FX liquidity and best-in class technology that dramatically improves latency and the execution experience for our customers is of the utmost importance to EBS," said Jeff Ward, Global Head of EBS. "The next generation EBS Direct platform is 10x faster than our legacy platform, and the underlying technology will enable us to further innovate by rolling out new products, order types and execution logics in the future."
"It has been a pleasure to work with the EBS team and establish Societe Generale as one of the first clients on the new EBS Direct platform," said Mohamed Braham, Global Head of FIC Trading, Societe Generale. "We are excited by the potential for further improvement in our OTC FX trading and the efficiencies that will stem as a result."
EBS is currently onboarding API customers to the new platform, with manual Workstation users being migrated iteratively through H2 2021 as additional functionality is delivered.
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.
For more information on EBS Direct and the latest developments see here: https://www.cmegroup.com/trading/market-tech-and-data-services/ebs/platforms.html#direct
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.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and, E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec, EBS, TriOptima, and Traiana are trademarks of BrokerTec Europe LTD, EBS Group LTD, TriOptima AB, and Traiana, Inc., respectively. Dow Jones, Dow Jones Industrial Average, S&P 500 and S&P are service and/or trademarks of Dow Jones Trademark Holdings LLC, Standard & Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as the case may be, and have been licensed for use by Chicago Mercantile Exchange Inc. All other trademarks are the property of their respective owners.
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SOURCE CME Group
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