|Key People||Gil Mandelzis, CEO;|
|Products||Interbank foreign exchange trading platform|
Note: In 2014, EBS combined with BrokerTec, ICAP's electronic platform fixed income products. For more information, visit the MarketsWIki entry for the combined business unit, EBS BrokerTec Markets. EBS BrokerTec was then acquired by the CME Group in 2018.
Electronic Broking Service (EBS) is an electronic currency trading platform for the interbank community, owned by ICAP. It was founded in 1990 by a 13-member bank consortium that included currency dealers UBS, Citigroup, HSBC and JP Morgan Chase. It was sold to ICAP in 2006, in a deal valued as high as $825 million.
In September 2019, EBS launched its next generation system called EBS Direct Platform. The new technology is faster, with processing times under 50 microseconds, improved execution certainty and fill ratios. EBS customers will be migrated onto the new platform over an 18 month period and should be completed by the first half of 2021, replacing the prior platform.
Products and Services
- EBS Market, a platform for anonymous trading of spot FX, non-deliverable forwards, and precious metals.
- EBS Direct, a platform for liquidity providers to stream tailored prices directly to customers with which they have pre-established relationships.
- Jeff Ward, Global Head of EBS
- ICAP Agrees to Buy Electronic Currency Broker EBS. Bloomberg.
- EBS Launches Next Generation EBS Direct Platform. CME Group.