Thomson Reuters FX and ICAP EBS cooperating?

The competitors in the Forex ECN business will jointly provide FX rate fixings in major currencies.

In what seems like a move meant to fend off upstart bank-backed competitors such as ParFX and FastMatch, Thomson Reuters and ICAP’s EBS unit have announced that they will jointly release 30-minute FX rate fixings. Currently, Thomson Reuters and EBS each separately report FX fixed rates, every 30 minutes.

Thomson Reuters and EBS claim that the new blended 30-minute fixing, which brings together liquidity from both platforms, will provide the most accurate picture of live-traded prices, increasing transparency in the FX market.

For the complete press release on this Thomson Reuters and EBS cooperation click here.

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

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