BrokerTec offers trading technology for many US and European fixed income products including US Treasuries, European Government Bonds and European Repo. In 2014, EBS merged with BrokerTec-a service provider in the fixed income markets-to form EBS BrokerTec. ĮBS was acquired by ICAP, the world's largest inter-dealer broker, in June 2006. It has also increased the range of trading style to include RFQ and streaming in disclosed and non-disclosed environments. In addition to spot FX and Precious Metals, EBS has expanded trading products through its venues to include NDFs, forwards and FX options. By 2007 this accounted for 60% of all EBS flow. They were the first organisation to facilitate orderly black box or algorithmic trading in spot FX, through an application programming interface (API). ĮBS initiated e-trading in spot precious metals, spanning spot gold, silver, platinum and palladium, and remains the leading electronic broker in spot gold and silver through the Loco London Market. In practice, EBS is the primary trading venue for EUR/USD, USD/JPY, EUR/JPY, USD/CHF, EUR/CHF and USD/CNH, and Thomson Reuters Matching is the primary trading venue for commonwealth (AUD/USD, NZD/USD, USD/CAD) and emerging market currency pairs. The decision by an FX trader whether to use EBS or Thomson Reuters Matching is driven largely by currency pair. ĮBS's closest competitor is Reuters Dealing 3000 Spot Matching. By 2007, approximately US$164 billion in spot foreign exchange transactions were traded every day over EBS's central limit order book, EBS Market. History ĮBS was created by a partnership of large foreign exchange (FX) market making banks in 1990 to challenge Reuters' threatened monopoly in interbank spot foreign exchange and provide effective competition. It was originally created as a partnership by large banks and then became part of CME Group. JSTOR ( April 2008) ( Learn how and when to remove this template message)Įlectronic Broking Services ( EBS) is a wholesale electronic trading platform used to trade on the foreign exchange market (FX) with market-making banks.Unsourced material may be challenged and removed.įind sources: "Electronic Broking Services" – news Please help improve this article by adding citations to reliable sources. This article needs additional citations for verification.
The firms also pointed out that both Fidelity Investments and Standard Chartered have no investments in the platform.Īs Decrypt reported, Standard Chartered’s SC Ventures announced a partnership with Chinese investment holding company BC Technology Group earlier this month with an aim of launching a new cryptocurrency brokerage and trading platform. Liquidity will be provided by global market maker and proprietary trading firm Flow Traders.Ĭurrently, the new crypto trading platform is yet to be approved by U.K. This will reportedly help attract more big investors who currently view the existing systems-which usually combine both trading and custody services in one-as too risky. A network of crypto custodians will provide a post-trade infrastructure where execution and settlements will be separated, the companies explained in the announcement. Per the report, the new platform aims to bring crypto trading more in line with other traditional assets such as stocks and bonds. The partnership with Fidelity Digital Assets and Zodia Custody, an institutional-grade crypto custody platform launched by Standard Chartered’s venture capital arm SC Ventures and financial services company Northern Trust, will allow TP ICAP to offer its clients exposure to digital assets as well. Prior to this, TP ICAP was already the world’s largest interdealer broker operating in financial, energy, and commodities markets. “In most of our conversations with clients, they want a separation of custodial roles from execution capabilities which is opposite to the models that exist currently.” “Investor interest in this new asset class has exploded dramatically in the last six to eight months,” Duncan Trenholme, co-head of digital assets at TP ICAP, told the outlet.
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