EBS BrokerTec redesigns EBS Live, moves to stream real-time FX market data

EBS BrokerTec, the electronic foreign exchange (FX) and fixed income business of ICAP plc (LON:IAP), announces today the redesign of its FX market data service, EBS Live, and a move to streaming real-time market data.

The ‘EBS Live Ultra’ feed will offer substantially improved price discovery and transparency. The feed will be delivered over multicast via a new binary protocol, to provide simultaneous efficient delivery, available late summer.

Thanks to providing continuous data, EBS BrokerTec anticipates that market practices such as Last Look will be less prevalent in the market.

Gil Mandelzis, CEO EBS BrokerTec says:

“This is a meaningful development for customers who will now be able to receive significantly more granular data and substantially further enhanced price discovery on the EBS Market platform. EBS is already the market’s reference point for the world’s most liquid currencies, but by delivering continuous data we will remove the need for low latency connectivity to respond to time sliced data, which tends to create race conditions amongst participants. This in turn will improve the overall ecology of the platform.”

Liam Hudson, Global Head of FX eCommerce, Bank of America Merrill Lynch, says:

“With EBS moving to streaming data, both transparency and price discovery will significantly improve on the platform. In general, streaming market data only stands to benefit the foreign exchange markets by improving transparency and in turn, the quality of data used to price client trades.”

You can view the full announcement from ICAP by clicking here.

Read Also: