JPMorgan launches EBS Prime Brokerage

First Published: e-Forex Magazine 11 / News / July, 2003

JPMorgan, along with two other banks, will be the first prime brokers on a new inter-bank prime brokerage service from EBS. Historically prime brokerage had been limited to the Hedge Fund market. However, over the last couple of years it has become an increasingly diverse product because of the growth of FX e-commerce. It has now taken another big step by entering the inter-bank market with the launch of the EBS Prime Broker product.The credit-dependant nature of the EBS spot market means that many banks are unable to access the true depth of liquidity in the market. EBS prime broker has addressed this problem by allowing the top credit rated banks, such as JPMorgan, to act as a prime broker and let other banks trade on any price with any counterparty that the prime broker can....continued

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