ICAP Reports EURCHF Decimalization to End on the EBS Platform
London based ICAP has just announced that it has changed pricing of the EURCHF cross on its EBS Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term. Under the new dealing rules, the EURCHF will be priced in ½ pips rather than in tenths. The change aligns the EURCHF with other major currency pairs where pricing had move to half pips earlier in year following EBS’s overhaul to its dealing rules in September. The EURCHF change will take effect on November 26th.
The EURCHF has been a target of intervention by the Swiss National Bank for over a year with the cross currently being supported by a 1.2000 price floor. As a result, according to a spokesperson at ICAP, the move away from decimalization in the EURCHF was delayed as EBS monitored trading activity in the cross and analyzed whether a change to ½ pips would have any negative effects to Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term and pricing.
In addition to the EURCHF changes, ICAP stated that it has received positive feedback from users of the EBS trading platform as they reported seeing greater liquidity at the top of book and larger orders are being filled more cost efficiently.
London based ICAP has just announced that it has changed pricing of the EURCHF cross on its EBS Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term. Under the new dealing rules, the EURCHF will be priced in ½ pips rather than in tenths. The change aligns the EURCHF with other major currency pairs where pricing had move to half pips earlier in year following EBS’s overhaul to its dealing rules in September. The EURCHF change will take effect on November 26th.
The EURCHF has been a target of intervention by the Swiss National Bank for over a year with the cross currently being supported by a 1.2000 price floor. As a result, according to a spokesperson at ICAP, the move away from decimalization in the EURCHF was delayed as EBS monitored trading activity in the cross and analyzed whether a change to ½ pips would have any negative effects to Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term and pricing.
In addition to the EURCHF changes, ICAP stated that it has received positive feedback from users of the EBS trading platform as they reported seeing greater liquidity at the top of book and larger orders are being filled more cost efficiently.