Icap has confirmed that it will launch its web-based version of EBS (see Icap goes online Euromoney May 2008) in mid-July. Called EBS Global Access, the platform will provide a low-cost option to access liquidity at what is still effectively the foreign exchange market’s hub for euro/dollar and dollar/yen spot trading.
The company points out that users of the platform will be able to trade on the same prices and with the same counterparties that are on the existing EBS platform. The company has declined to divulge how much it will charge to use EBS Global Trader on top of its brokerage charges but early adopters are believed to have been offered a deal starting from $500 a month.