EBS, a provider of electronic trading platforms and technology services in foreign exchange markets, announced on Monday the launch of its ‘next-generation’ EBS Direct platform, which was first launched in 2013.
EBS Direct is a relationship-based quote-driven market and supports both disclosed and non-disclosed trading via a GUI and API.
According to the press release shared with Finance Magnates, the company has reduced processing time to below 50 microseconds and will provide faster market data to enhance the customer trading experience. The updated platform will also enhance price discovery, provide greater certainty of execution and significantly improve fill ratios for market participants.
“Providing our customers with unparalleled OTC FX liquidity and best-in-class technology that dramatically improves latency and the execution experience for our customers is of the utmost importance to EBS,” Jeff Ward, Global Head of EBS, said on the upgraded platform.
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“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.”
On-boarding Process Starts
EBS has already started taking new clients on the upgraded platform, but the onboarding process is only limited to API customers for now. It has plans to add additional features as the migration of manual Workstation users on the new platform will continue through the second half of 2021.
“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,” said Mohamed Braham, Global Head of FIC Trading, Societe Generale. “We are excited by the potential for further improvement in our OTC FX trading and the efficiencies that will stem as a result.”