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Foreign Exchange

EBS responds to a new FX frontier

Launches trading tool to complement existing spot service

Rutherford:
Perfect time for EBS

Algorithmic trading and other definitions

Electronic trading generated by sophisticated algorithms is gaining significant traction in the FX market and providers are fast seeking out ways to accommodate this trend. Bank-backed foreign exchange network EBS has become the latest provider to launch a new trading tool, dubbed EBS Spot Ai.

This provides a direct electronic access between its financial customers' trading systems and the global FX community trading on EBS Spot, using automated programming interface [API] technology. The tool has been designed for a range of electronic FX functions and for traders that want to execute high-frequency trades automatically. It's available for both the interbank trading community and other professional traders, including hedge funds, fund managers and commodity trading advisers.

Historically, trading models have been used in other asset classes but have not been a significant factor in FX trading. "API has been around in the equities markets for quite some time, so many have questioned whether FX is too late into the game," says Roger Rutherford, EBS Spot Ai product manager at EBS.

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