Jack Jeffery CEO of EBS tells us how EBS has achieved this success.
Jack Jeffery CEO of EBS tells us how EBS has achieved this success.

FX – 10 years of overcoming resistance to change

Jack Jeffrey looks back over the last 10 years to see how reactions to electronic FX have changed.

First Published: e-Forex Magazine 13 / Leader / January, 2004

It is now 10 years since a group of visionary market-making financial institutions established EBS to offer a real choice for traders in the FX market place. Those 10 years have seen EBS grow to become the largest interbank spot broker in the world, with a primary focus on creating choice and improving trading efficiency for professional FX traders. From a starting point of zero, an average of USD100 billion is now traded over the EBS Spot system every day.The success of the EBS model has been, in large measure, because we facilitate an orderly market with common dealing rules for all that preserves banks' relationships with each other. Although owned by specific banks, EBS' high market share means our customer trading volume reflects the trading activity of the banks, while ownership of EBS does not generally influence banks' volume on our system.It has been fascinating to take a moment to look back over the past decade and see how the landscape and reactions to electronic FX trading have changed and how EBS...continued

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