EBS Direct volumes hit $18 billion ADV as it provides connectivity via FIX 4.4 API

EBS BrokerTec, the electronic foreign exchange and fixed income business of interdealer broker ICAP plc (LON:IAP), has announced that the volumes traded on its EBS Direct fully disclosed, relationship based FX platform have more than tripled over the past 18 months, hitting $18 billion (average daily volumes) in October 2015, up from about $5 billion in April 2014.

Overall EBS trading volumes have been suffering lately, with its November FX volumes hitting their lowest level since mid 2014.

EBS also disclosed that customers can now connect to EBS Direct via the FIX 4.4 API protocol.

This industry standard protocol ensures improved performance with accurate and timely information flows as well as the establishment of full quote attribution. The introduction of attribution transforms the insight customers now have when it comes to trading activity over EBS Direct.

Commenting on the change, Jeff Ward, Global Head of EBS Direct said,

Introducing a FIX 4.4 API is a big milestone for EBS Direct. It will not only improve the trading experience for existing customers, but it will also open us up to new customer segments as we alleviate some of the work previously required to onboard. This is particularly important as EBS Direct continues to grow in terms of both liquidity providers and consumers on the platform.

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