FX market round up: EBS floored but gets up fighting
The combination of network and trading infrastructure issues that resulted in Icap’s EBS platform crashing twice in early March inevitably got tongues wagging. Icap responded quickly and took EBS down mid-week for maintenance. Its decision looks well founded. Just a week later, a record level of activity took place in dollar/Swiss franc trading following the Swiss National Bank’s dramatic change in its monetary policy. And as Icap was also swift to point out, far from being "creaky", EBS has chugged along without any trading interruptions since August 2005.