Treasury Management Internation Logo

EBS BrokerTec launches EBS Live Ultra

Published 
  • The new service is the company’s fastest FX data product to date
  • Real time data will improve market transparency and liquidly and reduce reliance on practices such as Last Look

London, New York – EBS BrokerTec, ICAP’s market-leading electronic foreign exchange (FX) and fixed income business, announces today that it has gone live with EBS Live Ultra, its fastest FX data product to date. EBS Live Ultra has two data interval rates: 100 milliseconds, the same as the current EBS Live service but with lower latency, and a 20 milliseconds service, five times faster than the EBS Live data product.

A direct response to EBS customers’ desire for ever-improving data provision, EBS Live Ultra delivers data to the spot FX market in real time. A low latency service, it will significantly improve price discovery, enhance the lit FX market and increase market transparency, efficiency and liquidity. EBS Live Ultra will support the maintenance of a continuous order book and is likely to reduce reliance on market practices such as Last Look, as there will be less need to review client execution.

EBS Live Ultra is available at no additional cost over the existing EBS Live service. However, to support positive market behaviour and encourage all market participants to contribute to improved data for the overall market, customers who wish to receive EBS Live Ultra will need to satisfy certain participation criteria to access EBS Live Ultra at its fastest publication interval*.

Tim Cartledge, Chief Strategy Officer for EBS BrokerTec, said: “EBS Live Ultra ensures transparent price discovery and increased liquidity which is essential to a healthy FX market ecosystem. We believe sophisticated consumers of data should have an obligation to help create that data and keep the market working. Our participation criteria ensures that access to market-leading data comes with market positive behaviour rather than as a result of deep pockets.”

EBS Live Ultra responds to customers’ desire for ever-improving data provision in order to improve market transparency and efficiency. Improved pricing through EBS Live Ultra is also likely to lead to less reliance on market practices such as Last Look.

EBS Live Ultra data is derived from EBS Market, EBS BrokerTec’s central limit order book. Customers wishing to use the service, and meeting the requirements, will have minimal additional technology requirements, helping to ensure fast roll out of the service.

Liam Hudson, Global Head of FX eCommerce, Bank of America Merrill Lynch, said: “We welcome efforts by the market to increase the availability of data. The EBS Live Ultra service will improve price discovery for its users, and in turn, the ability to price client trades.”

Alex Gerko, Co-CEO, XTX Markets, said: “Streaming market data increases transparency and benefits all market participants, even those who are not using it directly. EBS Live Ultra will have a positive impact on the overall market ecology both on the platform itself and in the broader spot FX market.’’

 

*Participation criteria for access to EBS Live Ultra at its fastest publication interval (currently 20ms):

EBS Market customers must:

1. Deal as a price maker at least $200 million per day
2. Deal as a price maker for at least 40% of their weekly traded volume

Most recent episodes

HSBC’s Sibos Spotlight: Investing in the Future – from Diversity to Green Deposits

In the final instalment of HSBC’s Sibos Spotlight, Eleanor Hill (TMI) invites Nadine Lagarmitte and Suraj Kalati (HSBC) to consider how corporates’ attitudes to...

25:12

HSBC’s Sibos Spotlight: The ESG Landscape – what every treasurer needs to know

In the third edition of HSBC’s Sibos Spotlight Podcast series, TMI’s Eleanor Hill invites Farnam Bidgoli (HSBC) to provide an in-depth overview of the current ESG...

16:24

The Path to Transformational Global Cash Visibility

Davina Bradley (CEVA Logistics) and Conor Deegan (CashAnalytics) join TMI’s Eleanor Hill to explore how treasurers can transform their cash visibility and forecasting within their business in a matter of weeks using a...

33:16

HSBC’s Sibos Spotlight: Embedding ESG in Trade and Supply Chains

In the second podcast from HSBC’s Sibos Spotlight series, TMI’s Eleanor Hill speaks to Surath Sengupta (HSBC) about embedding ESG into trade and supply chains....

20:58

Lost in Transaction: Overcoming Payments Pitfalls

From simple errors to duplicates, fraud and sanctions violations, there are a number of areas where payments can go wrong – especially in the real-time environment. In this podcast, TMI speaks to Andrew Ferrao...

34:25

HSBC's Sibos Spotlight: Central Bank Digital Currencies

The first edition of HSBC’s Sibos Spotlight series sees TMI’s Eleanor Hill joined by Mark Williamson and James Pomeroy (HSBC) to discuss the hot topic of Central Bank Digital Currencies (CBDCs). Our guests discuss...

25:48

Payments Vision 2025: The Inside Track

Wim Grosemans, Steven Lenaerts (BNP Paribas) and Wim Raymaekers (SWIFT) join TMI’s Eleanor Hill to outline their vision for the payments landscape in 2025. Our guests consider how recent developments such as instant...

28:21

Stepping Out from the Shadows

“Treasurers needs to step out of the shadows and into the sunshine in terms of their strategic contribution.” claims Zitah McMillan, Co-Founder and CEO, Predictive Black. In this podcast, hosted by TMI’s Eleanor Hill, our guest declares that the...

16:54

Why the ‘One Size Fits All’ Approach is Outdated - A Cash Segmentation Treasury Masterclass

With the ongoing low interest-rate environment and increasing regulatory change, it’s more important than ever for treasurers...

23:55

Instant Payments: Instant Rewards

TMI’s Eleanor Hill sits down in the virtual TreasuryCast studio with J.P. Morgan’s Global Head of Real-Time Payments, Cyrus Bhathawalla, to discuss how treasurers can capitalise on the evolving nature of real-time payments. Our guest contemplates the elements...

23:55