Provider of electronic trading platforms and technology services in Forex markets EBS today announced an update to its liquidity provider eligibility criteria for EBS Direct, its relationship-based quote-driven market, to help accelerate the industry shift towards full compliance with the FX Global Code.
Building on its long-term commitment to the Code, from April 1 EBS will disable liquidity providers from all EBS Direct liquidity pools by default unless they have signed up to the Code. As a relationship-based platform, clients will be able to maintain relationships with non-compliant liquidity providers if they choose to, but they must proactively opt to do so.
Also effective April 1, EBS Direct will update its dealing policy to reduce its “last look” thresholds from 200 to 30 milliseconds.
“As a market-leading…
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