EBS Live with New Direct Platform
Posted by Colin Lambert. Last updated: July 12, 2021
CME Group’s EBS has rolled out its new iteration of EBS Direct, its relationship platform first launched in 2013. The roll out comes just months after the platform reported a year-on-year 51% increase in volumes on Direct.
The firm is currently onboarding API customers to the new platform, with manual work station users being migrated iteratively through H2 2021 as additional functionality is delivered. The upgraded platform offers enhanced processing times – below 50 microseconds – and faster market data. EBS says this will enhance price discovery, provide greater certainty of execution and significantly improve fill ratios for market participants. It adds that the creation of a more deterministic trading environment will create operational, execution and total cost efficiencies, improving overall trading performance for both liquidity providers and consumers.
“Providing our customers with unparalleled OTC FX liquidity and best-in class technology that dramatically improves latency and the execution experience for our customers is of the utmost importance to EBS,” says Jeff Ward, global head of EBS. “The next generation EBS Direct platform is 10 times faster than our legacy platform, and the underlying technology will enable us to further innovate by rolling out new products, order types and execution logics in the future.”