Tag: EBS BrokerTec

EBS BrokerTec

Nex Completes e-Mid Acquisition

BrokerTec, Nex Group’s electronic fixed income trading platform, has announced it has recieved Bank of Italy approval to complete the transaction to acquire a majority stake in e-Mid, the first Italian electronic central limit order book (CLOB) platform for interbank deposits and Overnight Indexed Swaps (OIS).
Nex says the transaction offers BrokerTec Europe a strong footprint in the important Italian debt and money markets.
As a subsidiary of BrokerTec Europe, e-Mid will offer its Italian government bond repo and interbank deposit businesses to BrokerTec’s client base while BrokerTec will integrate the e-Mid technology, provided by List, into its technology architecture.

EBS BrokerTec Restructures: Cartledge to Head FX

Tim Cartledge has been appointed global head of FX and head of product at EBS BrokerTec, amid a broader shift in the companies’ internal structure for its FX business.

In his new role Cartledge, who was chief strategy officer at the firm prior to this announcement, will be responsible for EBS BrokerTec’s FX business strategy and overseeing the EBS Product group.

As part of the new structure Jim Iorio has been made global head of sales and head of FX Americas, and will be responsible for the EBS Sales group and overseeing regional business activity for EBS in the Americas.

Darryl Hooker has been appointed as global head of metals and spot and head of FX EMEA. In this role he will be tasked with running the trading execution and prime and credit management groups. Hooker will also oversee regional business activity for EBS in EMEA.

A New Age for FX Market Data

As FX execution becomes increasingly fragmented with more and more trading taking place in dark environments, price discovery is rapidly becoming one of the industry’s key challenges. But can the recent proliferation of new market data offerings from the leading ECNs really help tackle this problem as claimed? Nicola Tavendale writes.

The past year’s run of unprecedented market events has only served to highlight the growing demand for timely and reliable FX market data, yet innovation in this area has notably lagged behind the levels seen in other areas of the financial markets.

EBS BrokerTec Leverages New Yuniti Platform to Make a Play in Asia

Following a deal inked in mid-2016 with China’s CFETS for electronic execution services in mainland China, EBS BrokerTec has been actively expanding its footprint and relocating key staff to the region. P&L’s Julie Ros talks with Jeff Ward, global head of EBS Direct and head of EBS BrokerTec in Asia, about the moves.

Recognising the potential for growth across Asia Pacific, EBS BrokerTec embarked on a growth plan for the region nearly a year ago, as the company was working on a deal

EBS Announces New 5ms Data Feed

EBS BrokerTec will now be offering data via EBS Live Ultra at 5 millisecond intervals.

Last year, EBS BrokerTec launched EBS Live Ultra with two data publication intervals – 100ms and 20ms – with the intention that the faster service would be available to all market participants that meet certain trading criteria.

With the launch of the 5ms data feed in addition to these original two, the same participation criteria will apply for those wishing to access this, while the 20ms data feed will be available to all EBS Live Ultra customers.

FX Platforms: Optimism Abounds for 2017

Galen Stops looks back at how the OTC FX platforms fared in 2016 and talks to them about their strategic plans for 2017.

Speaking to platform providers at the end of 2015 about their prospects for the next year, they were all fairly bullish that a period of subdued volatility, and subsequently trading volumes, was about to come to an end.

And on the surface, the reasons they cited for this optimism were logical. The US Federal Reserve had just approved a quarter-point increase in its target funds rate, the first change in rates since 2009 and the first increase since 2006. Many hoped that further rate increases were coming and that interest rate differentials might start to produce trading opportunities and therefore lift FX volumes.

Integral’s Case Against EBS BrokerTec CTO to Continue

The US Ninth Circuit Court of Appeals has overturned some of the decisions made by the US District Court regarding claims that EBS BrokerTec CTO, Viral Tolat, misappropriated trade secrets from his former employer, Integral Development Corp.

To succeed in a claim for misappropriation of trade secrets under California law, Integral must show that it possessed a trade secret, that Tolat misappropriated that trade secret and that this misappropriation caused or threatened damage to Integral.

In its case against Tolat, Integral claims that there are three sets of information that Tolat misappropriated.

NEX Completes Sale of Voice Broking to Tullett Prebon

The sale of ICAP’s globally hybrid voice broking and information business to Tullett Prebon, now named TP ICAP (TP Icap), which includes the associated technology and broking platforms and certain joint ventures and associates, has completed today. The remaining business, which includes EBS BrokerTec, as well as Traiana, will remain under the newly named NEX Group (Nex). The board of NEX also announces that the Share Consolidation will become effective with effect from Admission today, at which point the total issued ordinary share capital of NEX will be 379,735,432 ordinary shares of 17.5 pence each.

EBS BrokerTec Hands Uberoi Sales Role

Natasha Uberoi joined EBS BrokerTec as US new business sales head.

Although a spokesperson for the platform declines to comment on the hire, Profit & Loss understands that Uberoi started in her new role, based in New York, this week.

Uberoi left Bats Global Markets in July, having been with the firm for just over a year. Prior to that she worked at Bank of America, where she was a vice president, FX sales. Before joining Bank of America in 2013