EBS launches next-generation direct platform

The EBS Direct platform offers enhanced price discovery, provides greater certainty of execution and improves fill ratios for market participants.

CME Group’s foreign exchange platform EBS has launched a next-generation EBS Direct platform to improve latency and execution.

Users of the new EBS Direct platform will benefit from enhanced processing times below 50 microseconds and faster market data.

EBS said these improvements will enhance price discovery, provide greater certainty of execution and improve fill ratios for market participants.

The FX platform and technology provider said the creation of a deterministic trading environment would create efficiencies across operation, execution and total cost, enhancing trading performance for both liquidity consumers and liquidity providers.

“The next generation EBS Direct platform is 10x 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,” said Jeff Ward, global head of EBS.

Societe Generale has become one of the first users of the new platform, with other API customers currently being onboarded and with manual workstation users being migrated through the second half of this year as additional functionality is delivered.

“It has been a pleasure to work with the EBS team and establish Societe Generale as one of the first clients on the new EBS Direct platform. We are excited by the potential for further improvement in our OTC FX trading and the efficiencies that will stem as a result,” said Mohamed Braham, global head of FIC trading, Societe Generale.

Earlier this year, EBS collaborated with TORA to offer FX pricing to buy-side. Through the collaboration, buy-side traders using TORA’s multi-asset platform gained access to FX liquidity from CME Group’s EBS Market and EBS Direct.