Trading Technologies (TT) has integrated with EBS Market’s central limit order book (CLOB), as part of the firm’s drive to expand its FX liquidity offering.
Tomo Tokuyama
The new offering allows market participants to connect directly to EBS Market through TT’s execution management system (EMS), to gain access to primary liquidity pools, view prices and trade spot FX, precious metals and non-deliverable forwards.
The firm is also expanding the offering further and is expected to provide clients access to relationship based disclosed platform, EBS Direct, as well as CME Group’s new FX Spot+ platform.
This will make TT the first provider to offer CME Group’s full futures, options and cash over the counter (OTC) markets offering.
“This integration is an important part of our TT FX build-out and gives our clients access to another Tier 1 venue with the ability to trade seamlessly across asset classes. EBS Market has long been the go-to venue for market-making banks to hedge their FX risk, and for other large FX market participants to access firm liquidity in an all-to-all CLOB,” said Tomo Tokuyama, TT’s EVP and managing director, FX.
“TT will give market participants the ability to trade CME Group FX futures and options, EBS Market, EBS Direct, FX Link and the recently launched FX Spot+, all side by side in one EMS.”
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The expansion follows demand from buy- and sell-side clients to provide a solution that can streamline trading and trade cycle processes through consolidating platforms, as well as recent market volatility and challenges.
Paul Houston, global head of FX products at CME Group said: “Recent market conditions have reinforced the importance of EBS’ firm, no last look pricing, which provides foundational liquidity for spot FX and metals, as well as NDFs.
“We are pleased that TT clients will now be able to access new trading opportunities across the full suite of CME Group FX cash, futures and options – all on a single platform.”