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Icap Officially Unveils NZD on EBS

Icap has announced a major drive to provide electronic FX trading in the New Zealand dollar around the globe, with the introduction of the NZD to EBS. The news, which was revealed in Squawkbox earlier this month (see Squawkbox March 5), sees EBS try to grab a piece of the expanding Kiwi market which has been boosted by the NZD’s high yield and subsequent part in the carry trade frenzy which over took the market over the past 12 months.

 

“We’ve been working closely with kiwi dollar traders in Wellington to help meet their needs for additional trading opportunities,” says Darryl Hooker, emerging markets and precious metals manager, Icap Electronic Broking. “They told us they need access to the electronic global book on one dealing screen and to price, depth and liquidity and trading in the G7 currencies. Our position as the global provider for the major traded currencies, particularly the US dollar, euro and yen pairs, make us an obvious choice for these traders.”

John Body, Head of Markets, ANZ Wellington, adds: “The inclusion of the New Zealand dollar into the EBS trading platform further recognises the maturity of the New Zealand capital markets and the increased focus of the global investor community on the New Zealand dollar. This platform will further enhance liquidity, benefiting both local importers and exporters and broadening the pool of global investors active in the New Zealand dollar.”

 

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