EBS Licenses FX Bridge’s Options Software, Hires Firm’s Institutional CEO

The fixed income and foreign exchange subsidiary of ICAP plc (LON:IAP), EBS BrokerTec, has started a strategic partnership with FX Bridge Bridge The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service their clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Met The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service their clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Met Read this Term Technologies Corp. The broker has licensed a software solution which will permit it to delve into a new direction for those clients interested in FX options.

The solution will permit EBS BrokerTec to provide relationship based trading for FX options. Commenting on the announcement, Gil Mandelzis, CEO of EBS BrokerTec, said: “Adding FX Options to our portfolio completes our OTC FX product coverage. Three years ago we covered mostly three currency pairs in the FX Spot world, and now the company has grown to cover spot, NDFs, forwards and Swaps Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Read this Term, and FX options.”

As part of the licensing agreement, the broker dealer also receives a talented executive for its team. Joining the firm will be Stephen Best, who formerly served as CEO of FX Bridge Institutional Services. His new position at EBS BrokerTec will be as Head of Options, based in the New York office of the firm.

Mr Best commented on the announcement: “EBS BrokerTec has built a remarkably successful relationship-based business in EBS Direct over a very short period of time, leveraging its extensive network and strong reputation. The launch of FX options is an exciting and natural expansion of its offering.”

FX Bridge has started its business primarily by providing technology to more retail focused operators, making the deal with such big institutional player as EBS a key breakthrough with regards to delivering its services to professional clients.

The synergy between FX Bridge’s technology and EBS BrokerTec’s infrastructure will contribute to a more complete product offering. The firm has already expanded from spot and forwards into swaps and NDFs.