EBS releases upgraded version of its platform

Karthik Subramanian

EBS, one of the leading electronic trading platform and technology services providers, has announced the release of its next-generation EBS Direct trading platform.

Michael Bourke now Managing Partner of Bannockburn Global Forex

The company says that this new version of the platform would help in faster execution of trades, with trades going through in less than 50 microseconds, and also provide quick access to rates for various instruments leading to better price discovery and giving stability and reliability to the operations and pricing which would be useful for its customers.

“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.”

There is a need for the trading platforms to keep upgrading and innovating to ensure quicker speeds as this is one of the prime considerations for larger traders who have a wide choice of trading platforms to choose from. The company has said that it had already started onboarding its API customers while the retail clients would begin to be onboarded during the second half of the year.

“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 counts some of the biggest institutions and banks among its customer base and for them, better pricing, faster execution, and pricing are key components of trading as the FX markets become less volatile every year and the opportunities also begin to dry up slowly and steadily. So, for banks, it is important to eke out every small advantage that they can lay their hands on and this places a lot of pressure on the trading platforms to keep upgrading their platform and their infrastructure to match the required standards. EBS Direct platform was launched in 2013 and supports both GUI and API trading.

Read this next

Digital Assets

Ankr successfully patches hack, will reimburse victims and take actions to prevent further attacks

DeFi protocol Ankr plans to reimburse its affected users after a hacker managed to exploit a bug in its code that allowed for unlimited minting of its liquid staking token.

Industry News

ASIC cancels/suspends AFS license of AFSL Group and Quantum Funds Management

ASIC canceled the AFS license of AFSL Group because it failed to lodge statements and audit reports and it did not maintain AFCA membership. The Australian regulator suspended Quantum because it does not have the required professional indemnity insurance coverage.

Executive Moves

BidX Markets hires Shaun French as Research Analyst – Multi Asset

“We believe with his background in the Financial Markets and being based in Dubai, he will be able to provide our clients with access to outstanding research, while also being in a great location to help support our international clients base which is growing at a rapid pace’’.

Institutional FX

Nasdaq migrates US options exchange to AWS with +10% performance in round-trip latency

Nasdaq has announced the successful migration of the core trading system of Nasdaq MRX – one of its six U.S. options exchanges – to Amazon Web Services (AWS).

Institutional FX

TraditionData launches oil swaps pricing data at a critical time in OTC oil traded markets

TraditionDATA has announced the release of a new proprietary Oil Swap Model (OSM) which brings further visibility into illiquid and opaque oil markets.

Technology

TNS connects to Tel Aviv Stock Exchange (TASE) as market data vendor

“This latest exchange connection allows TNS to provide access to approved recipients, including exchange members and market data vendors. This project includes market data for TASE’s equities and increases the number of market data feeds we now offer globally.”

Executive Moves

Cowen Digital taps ex-Blockchain.com Taylor S. Cable to lead Europe and Asia operation

“Cowen Digital is a pioneer in delivering institutional grade access to the digital asset ecosystem and I am very excited to join the team at this pivotal time to grow our presence in Europe and Asia.”

Industry News

ASIC sues American Express Australia for lack of TMD on credit cards

“ASIC has now taken multiple actions under the design and distribution regime, including issuing over 20 interim stop orders. This regime turned a new page in the regulation of financial products in Australia and is intended to deliver better outcomes for consumers. It is a priority for ASIC to maximize these increased protections and see the long-term benefits of the DDO regime realized.”

Institutional FX

Eurex reports mixed volumes for November 2022

Deutsche Börse’s derivatives-focused exchange, Eurex today said its total traded derivatives contracts grew by 10 percent in November, from 68.6 million to 75.3 million compared to the same month last year.

<