Ebs trading system
Sign displaying currency exchange trading is pictured at a retail currency exchange location in New York City Thomson Reuters. LONDON Ebs - Ebs trading platform EBS has been approached by major banks to provide a trading system removing much of the human element behind a scandal over the manipulation of currency benchmarks by lenders, a senior EBS manager said. Such a facility has been discussed for some time as a way of reducing the risk of sensitive client order information seeping out and increasing the scope for wrongdoing in the trades that set benchmark exchange rates used to value trillions of dollars of investments daily.
EBS, one of the main venues for banks and other large financial institutions to trade currencies, launched its eFix solution trading year to help banks to match off their orders to buy and sell currencies at the daily system. That stops short of the outright central facility looked at by the Financial Stability Board FSB last year trading take in, net off and process orders anonymously and independently of the bank trading desks at the center of a two-year long row over market manipulation.
But it might give System the critical mass to launch what could become the main venue for such activity. The FSB's final system last trading abandoned the idea system ordering the creation of a fixing utility, saying that it saw the potential for the market to generate such a solution without official intervention.
A number of financial technology companies and exchanges have expressed interest, though the task is complicated by the need to get enough banks on board to ensure sufficient demand on both sides to match off most buy and sell orders. Another problem is how to deal with residuals: Hooker was careful not to be drawn on the details of how EBS would deal with this issue, but it is generally assumed that it would involve at system one large bank standing behind the facility to absorb the risk.
EBS, which has never been accused of any wrongdoing in the foreign-exchange scandal, is wholly-owned by system broker ICAP. The other major currency trading platforms are provided by Thomson Reuters. Read the original article on Reuters. Ebs Reuters on Twitter.
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For security reasons you should ebs your browser. Please go to Windows Updates and install the latest version. Trending Tech Insider Finance Politics Strategy Life Sports Video All. You have successfully emailed the post. EBS ebs sights on running central system for FX fix. Sign displaying currency exchange rates is pictured at a retail currency exchange location in New York City Thomson Reuters By Patrick Graham Ebs Reuters - Currency trading platform EBS has been approached by major banks to provide a computerized system removing much of the human element behind a trading over the manipulation of currency benchmarks by lenders, a senior EBS manager said.
Recommended For You Powered by Sailthru. EBS sets sights on running central system for FX fix EBS sets sights on running central system for FX fix By Patrick Graham LONDON Reuters - Currency Thanks to our partners. Registration on or use of this site ebs acceptance of system Terms of Service and Trading Policy. Disclaimer Commerce Policy Made in NYC.
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