CME Group’s EBS, a provider of electronic trading platforms and technology services in the foreign exchange (forex) markets, announced on Sunday that it would launch a new API streaming service on the EBS Quant Analytics platform, the first streaming service for the FX market.
The API streaming service, which is expected to launch in the second quarter of this year, will stream trade information, market impact and alpha calculations on a trade-by-trade basis to its customers, the statement said.
The Quant Analytics platform, previously known as NEX Quant Analytics, is a community-based analytics tool which gives clients access to real-time, historical and end-of-day analysis of FX data.
The platform also provides insights which allow users to analyze trade flows, optimize execution efficiency as well as benchmark their performance against the whole community.
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EBS to Launch First API Streaming Service for FX Market
Commenting on the new feature, Seth Johnson, the CEO of Cash Markets at CME Group said: “There’s currently nothing like this in the marketplace, and that’s exciting not only for us, but for the entire EBS community.
“The new API streaming service means that EBS clients can analyze their individual and relative performance more efficiently than ever before by consuming the data in real-time and in their own environments, ultimately helping them grow volumes and revenues.”
Available to all clients who trade via EBS Direct and EBS Market, the API streaming will initially only cover outbound analytics of trades. However, the functionality’s capabilities will extend later this year, to also include an inbound service where customers can upload external trades to the Quant Analytics platform.
“As trades occur, the real-time analysis of spreads, market share, hold times and post-trade mark-outs across the EBS community will be invaluable in improving our trade execution performance on a day-to-day basis,” added Giovanni Pillitteri, Head of eFX Market Making, HC Technologies.