EBS Links To TORA’s Multi-Asset Platform03.16.2021
EBS, the leading global provider of electronic trading platforms and technology services in foreign exchange markets, today announced a collaboration with TORA, provider of the industry’s most advanced cloud-based, multi-asset order and execution management system (OEMS), to link EBS Market and EBS Direct’s FX liquidity with TORA’s multi-asset platform.
Market participants will be able to connect directly to EBS via TORA, enabling them to view prices for all spot FX, forwards, swaps and NDFs traded on EBS Market and EBS Direct side-by-side, along with prices for CME Group FX futures and other asset classes on one platform.
“We are delighted to collaborate with TORA to provide our FX liquidity to new parts of the market, all on one system,” said Jeff Ward, Global Head of EBS. “This will allow TORA clients access to our FX market without having to switch between multiple platforms to execute trades.”
“Gone are the days when traders need to switch between different systems, FX applications and providers,” said Robert Dykes, CEO at TORA. “Through our alliance with EBS, TORA’s clients will receive an enhanced FX offering and access to a true global multi-asset trading platform. We are already seeing strong demand from our existing clients and leading global funds for the TORA/EBS FX offering. This collaboration will help traders to significantly improve efficiency and realize hard dollar savings on their multi-asset execution.”
TORA OEMS has straightforward configuration functionality and on-the-ground support for fund trading activities. It is a global multi-asset, multi-region, order execution management system and portfolio management system that is compliant with MiFID II. The platform also provides advanced total cost analysis, reports, compliance management and has a broker-neutral pairs application.
EBS Direct is a relationship-based, quote-driven FX market. EBS Market is a matching engine with a central limit order book, pairing FX buy and sell orders.
Additional volatility due to unforeseen macro events, particularly the conflict in Ukraine, were contribers.
Turnover rose across all instruments except for currency swaps.
There is a growing trend to combine on- and off-exchange business.
Richard Turner of Insight Investment sees more automation and more transparency around cost and outcomes.
Nearly all cleared activity is in non-deliverable forwards (NDFs).