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EBS BrokerTec, a unit of UK-based institutional brokerage and market operator ICAP, said on Monday it is moving its EBS Market trading platform to real-time streaming forex market data. The company is redesigning the platform’s market data service, EBS Live.
The new EBS Live Ultra feed will be delivered over multicast via a new binary protocol and will be launched in late summer 2016.
“This is a meaningful development for customers who will now be able to receive significantly more granular data and substantially further enhanced price discovery on the EBS Market platform,” said Gil Mandelzis, CEO of EBS BrokerTec. “EBS is already the market’s reference point for the world’s most liquid currencies, but by delivering continuous data we will remove the need for low latency connectivity to respond to time sliced data, which tends to create race conditions amongst participants. This in turn will improve the overall ecology of the platform.”
The real-time continuous market data will provide EBS Market users with better price discovery and transparency. The new feature is expected to have a positive effect on the market as a whole.
“With pricing more clearly and reliably available, in real time, there’s less likely to be the need, or justification to review client execution on last look venues. This will have a positive effect on the market’s ability to rely on firm venues for execution purposes,” according to Mandelzis.
EBS Live delivers directly to customers spot forex data from the liquidity and diversity of counterparties trading on the EBS Market platform.
ICAP is a leading markets operator and provider of information and risk mitigation services. It acts as a wholesale broker on the forex, commodities, credit, interest rates, and emerging markets.
Its unit EBS BrokerTec is an electronic wholesale trading platforms and solutions business in forex and fixed income. It provides two trading platforms – EBS and BrokerTec. The EBS Market connects buyers and sellers of currencies in over 50 countries across six continents.