Banque AIG, a member of the AIG Financial Products group of companies, is the latest to join as an EBS Prime Bank, and is one of the first banks to do so that will focus solely on the professional trading community.
Banque AIG is participating extensively in the forthcoming research and development project for extending the EBS Prime model to the non-interbank professional trading community, including hedge funds, CTAs and FCMs.
John Wareham, managing director, Banque AIG, says, “We believe the EBS Prime Professional research and development effort will result in a valuable addition to the product suite we offer to our customer base.
“Our unique credit rating in this industry sector means we can offer an exceptional liquidity pool enabling our clients to directly access better prices. We are particularly pleased to be the first bank to bring a European client to work with us on this process with EBS.”
EBS Prime enables banks to provide a service to customers wishing to join the professional FX trading community on EBS Spot, the screen-based anonymous dealing system used by more than 2,000 FX traders globally.
The original three EBS Prime pilot banks are Royal Bank of Scotland, Deutsche Bank and JP Morgan. Additional Prime banks include: ABN Amro, Bank of America, Barclays Capital, Bear Stearns, Calyon Corporate and Investment Bank, Citibank, Credit Suisse First Boston, HSBC, Lehman Brothers, SEB, Societe Generale and UBS. Calyon became a Prime bank in October and Barclays Capital in July, while the others are now either live or signed up and in the process of going live.