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EBS (Electronic Broking Services) was created by a partnership of the world's largest foreign exchange market making banks. Approximately USD 125 billion in spot foreign exchange transaction, 700,000 oz in gold and 7 million oz in silver is traded every day over the EBS Spot Dealing System. It was created in 1990 to challenge Reuters' threatened monopoly in interbank spot foreign exchange and provide effective competition. The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. ...
A market maker is a person or a firm which quotes a buy and sell price in a financial instrument or commodity hoping to make a profit on the turn or the spread (i. ...
Iain Banks is a Scottish-born writer of both mainstream and science fiction novels. ...
Spot can refer to: Look up spot in Wiktionary, the free dictionary. ...
General Name, Symbol, Number gold, Au, 79 Chemical series transition metals Group, Period, Block 11, 6, d Appearance metallic yellow Atomic mass 196. ...
General Name, Symbol, Number silver, Ag, 47 Chemical series transition metals Group, Period, Block 11, 5, d Appearance lustrous white metal Atomic mass 107. ...
This article is about the year. ...
Reuters Group plc LSE: RTR NASDAQ: RTRSY is best known as a news service that provides reports from around the world to newspapers and broadcasters. ...
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EBS's closest competitor is Reuters Dealing 3000 Spot Matching (aka D2), which was launched after EBS. The decision by an FX trader whether to use EBS or Reuters D2 is driven largely by currency pair. In practice, EBS is used mainly for EUR/USD, USD/JPY, EUR/JPY, USD/CHF and EUR/CHF, and Reuters D2 is used for all other interbank currency pairs. In June 2004, EBS announced that it was adding support for AUD/USD and USD/CAD. However, EBS had been supporting AUD/USD and USD/CAD for many years, since even before the launch of Reuters D2, so there was in fact no change. It was simply a marketing stunt by EBS to encourage traders to use EBS for these two currency pairs instead of Reuters D2. This had limited success in that liquidity in these two currency pairs in EBS has improved significantly, although not to the same level as Reuters D2.
Shareholders:
ICAP Plc, the world's largest broker of transactions between banks, agreed in 2006 to buy EBS.[1] ABN AMRO (Euronext: AAB, (NYSE: ABN)) is the largest bank in the Netherlands and has operations all over the world, its history going back to 1824. ...
J.P. Morgan Chase & Co. ...
Typical Bank of America consumer banking center Bank of America (BofA) NYSE: BAC TYO: 8648 , based in Charlotte, North Carolina, is the third largest commercial bank in the United States of America, measured in assets, and the fourth-largest company in the world by the 2005 Forbes Global 2000. ...
Lehman Brothers Holdings Inc. ...
Barclays Bank is the fourth largest bank in the United Kingdom. ...
SEB in Estonia SEB, or Skandinaviska Enskilda Banken AB (publ. ...
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Commerzbank AG (DAX: CBK) is the second-largest bank in Germany (after Deutsche Bank) and headquartered in Frankfurt am Main. ...
The Royal Bank of Scotland (LSE: RBS)is one of Scotlands four national clearing banks and one of the oldest in the UK, founded in Edinburgh in 1727 by Royal Charter. ...
Credit Suisse First Boston (CSFB) is a bulge bracket New York City based investment banking and financial services firm. ...
UBS can refer to: UBS AG, a banking group Unbundled Bitstream Services United Building Society - the name of several financial institutions in different countries around the world. ...
HSBC Holdings plc (LSE: HSBA, SEHK: 005, NYSE: HBC, Euronext: HSBC, BSX: 1077223879) is one of the largest banking groups in the world, ranked the fifth-largest company and third-largest banking company in the world in Forbes Global 2000. ...
External links
- Website
- List of supported currency pairs in EBS and Reuters D2
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