ICAP’s EBS hires Integral founder as its new CTO

Dr. Viral Tolat co-founded Integral 20 years ago and was with Integral since.

EBS management is taking some serious steps to try and keep up with rising rival FXall, and its parent company Thomson Reuters, in the Forex ECN business. ICAP’s EBS unit has announced that is has hired Dr. Viral Tolat as its new CTO.

Tolat is not exactly you run-of-the-mill tech geek. He co-founded FX trading technology provider Integral Software 20 years ago alongside current Integral CEO Harpal Sandhu, and had been with Integral ever since, acting as CTO.

EBS recently reported its lowest trading volumes since 2005, at a time when rival FXall reported its second highest ever volumes.

For the press release click here.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.



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