EBS, a subsidiary of ICAP, describes itself as a provider of access to unparalleled liquidity and depth, supporting a wide range of FX trading strategies. Other services they provide are API, manual trading for banks, buy-side and sell-side trading institutions. The company announced the addition of the Royal Bank of Canada (RBC) today, making RBC the first Canadian liquidity provider on the EBS Direct platform, putting the total liquidity providers on EBS at 19.
The inclusion on RBC as a liquidity provider gives clients access to a wider range of market depth, creating access to an additional top-notch liquidity provider in both major and emerging market currencies.
The move will certainly be of mutual benefit to both RBC and EBS, as EBS direct adds Royal Bank of Canada as liquidity provider, with executives from both firms commented thus;
Jeff Ward, global head of EBS Direct: “As the first Canadian Bank to become a liquidity provider, RBC brings tremendous value to the platform, increasing footprint in major and emerging market currencies and supporting EBS growth. We are excited to begin this partnership with them and to leverage their valuable liquidity to enhance and diversify pricing provider options for our customers.”
Mark Burroughs, director at RBC: “Working with EBS Direct will facilitate enhanced liquidity for our clients. The EBS Direct global distribution network allows us to support a wide client base with customized liquidity.”
The firm continues to grow strong, as this latest stride is expected to fortify its reach in the British Commonwealth region, as Commonwealth currencies have been determined to be among the most actively traded currency pairs on EBS Direct and the number of active traders of Commonwealth currencies has more than doubled from last year.