Foreign exchange E-trading market operator EBS has launched its next-generation EBS Direct platform.
Customers trading on EBS Direct should see faster processing times – reportedly below 50 microseconds – and faster market data on the new platform. This is intended to enhance price discovery, provide greater certainty of execution and improve fill ratios for market participants, while the creation of a more deterministic trading environment is expected to create operational, execution and total cost efficiencies, improving overall trading performance for both liquidity consumers and liquidity providers.
Jeff Ward, global head of EBS said, “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.”
Mohamed Braham, global head of FIC trading at Societe Generale said, “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. 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 customers trading via application programming interface (API) onto 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 graphical user interface (GUI) and API.
©Markets Media Europe 2021