EBS Adds FX to MyTreasury for Corporate Treasurers to Trade On

EBS BrokerTec is adding an FX offering onto its Money Market Fund platform which will be available later this year.

EBS BrokerTec, ICAP’s fixed income business, announced today that it has combined MyTreasury into its product portfolio. MyTreasury is a Money Market Fund (MMF) platform for corporate treasury managers. Additionally, EBS BrokerTec is adding an FX offering onto MyTreasury which will be branded “EBS Treasury”.

The full FX offering for corporates will launch later this year, subject to regulatory approval, with the beta phase commencing later this summer. Eight banks and ten corporates have signed up to participate in the beta launch, according to the firm. EBS Treasury will support FX spot, forwards and swaps, leveraging FX pricing from EBS Direct, its disclosed bilateral FX trading platform. Trades will be executed via a streamed Request for Quote (RFQ) model, a new addition to EBS Direct’s execution functionality, allowing banks to stream tailored prices to corporates.

Justin Meadows, CEO, MyTreasury, said: “The merger of the MyTreasury platform with the EBS BrokerTec business will allow us to expand our offering by providing our large community of corporate treasurers with a unique set of intuitive trading and workflow tools across a multi-asset class offering. It allows us to bring together the existing strength of EBS BrokerTec’s robust infrastructure and MyTreasury’s footprint and expertise in the corporate space to provide the corporate community with integrated FX and MMF trading through a single screen. I am confident this newly integrated offering will prove to be a valuable and exciting platform for corporates wanting to access the FX markets.”

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Gil Mandelzis, CEO, EBS BrokerTec, added: “The MyTreasury team has done a fantastic job of building leading presence in the corporate space and they have a committed and satisfied corporate client base. The integration of the MyTreasury business with EBS BrokerTec is an exciting development as it supports our overall strategy to diversify our customer base and strengthen our multi-product offering, which will continue to expand further in 2015 and 2016. We are looking forward to growing our client base materially by offering existing and new corporate clients unparalleled, wide and integrated trading capabilities”.

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