Foreign exchange traders are getting a new liquidity pool where they can execute trades.
Much like the equities markets with its myriad trading venues and pools, EBS, ICAP’s electronic FX business, announced EBS Select, an anonymous, segmented, bilateral liquidity pool to help grow and electronify the forex markets.
EBS Select facilitates trading in a non-disclosed environment and delivers prices in a segregated liquidity pool. According to 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.
“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,” said Jeff Ward, head of EBS Direct.
EBS Select joins the firm’s multi-asset offering which currently includes EBS Market, its anonymous central limit order book, and EBS Direct, its disclosed bilateral trading platform successfully introduced a year ago.
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 and 30 “liquidity consumers” and a number of “liquidity providers” have already agreed to participate in its Beta roll out.
