Simon Friend joins EBS as Head of Market Surveillance

EBS, ICAP's market-leading electronic FX business, announced that Simon Friend is joining the Company as Head of Market Surveillance. He will report to Nichola Hunter and John Schoen, co-heads of EBS Market.

Based in London, Friend will lead the further development of EBS Market Surveillance and Enforcement that reinforces its leadership in maintaining and delivering the world’s largest pool of genuine FX Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term. He joins EBS from the UK Financial Services Authority where he was a Senior Associate in the Transaction Monitoring Unit. He previously held a number of Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term and surveillance positions at both broking and trading firms.

Simon Friend said: “EBS’ unique approach to enforcement and surveillance is impressive and thorough, particularly as a non-regulated institution. I am excited at joining the Company to make a meaningful difference to strengthening surveillance, promoting liquidity and providing an even more robust and efficient platform for the benefit of all market participants”.

Gil Mandelzis, CEO of EBS said: “One of the cornerstones of our strategy is to promote genuine liquidity and make sure appropriate behaviors are maintained on the platform. Our surveillance capabilities and team, already unparalleled in the market, will now be strengthened significantly. Simon brings exceptional experience and capabilities, as well as passion to maintain and drive an orderly and professional market. Coupled with EBS’ other initiatives, we will continue to take a leadership position to provide the largest, global, most orderly, professional market for the benefit of our customers and the marketplace as a whole”.