EBS BrokerTec adds two liquidity providers

EBS BrokerTec adds two liquidity providers

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EBS BrokerTec, ICAP's electronic foreign exchange (FX) and fixed income business, has added two new liquidity providers to its platform.

Metallinvestbank has become the first Russian liquidity provider and Standard Bank as the first South African liquidity provider on the EBS Direct platform, bringing the total number of banks with access to EBS Direct's liquidity pool to 24.

“As the first local Russian liquidity provider for EBS Direct we will be able to offer our counterparties enhanced liquidity in the ruble and other key currencies. Access to EBS Direct’s global distribution network will allow us to support our customers with customised liquidity at a time when reliable pricing and execution is more important than ever," said Sergey Romanchuk, head of FX&MM at Metallinvestbank.

“As a leading market maker in the South African rand, it is vital for us to be present where our customers choose to transact, and EBS Direct is a significant avenue which is continuing to grow in popularity," said Tim Hutchinson, head of eFX, global markets at Standard Bank.

EBS Direct has seen average daily volume increase from $5bn in April 2014 to $17bn in May 2015. The platform has over 350 liquidity customers using the service with an additional 200 new customers in the pipeline, according to the firm.

As liquidity providers Metallinvestbank and Standard Bank can provider customers access to a liquidity pool in both major and emerging market currencies, including the Russian ruble and South African rand. The platform offers 86 currency pairs including spot FX, NDFs and precious metals. 

This, said EBS will increase liquidity and improve pricing and certainty of execution in these instruments.

“The addition of Metallinvestbank and Standard Bank help to expand and reinforce EBS Direct’s position in emerging market currencies and we look forward to working with them to provide greater pricing options for our customers,” said Jeff Ward, global head of EBS Direct.


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